Hi,
I’m not getting paid enough…I should really be on at least 20% or so more than I am currently getting paid. The job market is however tough and i’m tyring to get into FoF or Prime Brokerage.
I’m in China for 3 weeks in July. I have 2 weeks off before my exam in June…
Do you think it’s worth applying for new jobs now or wait?
Tons of people are not getting paid enough. That’s how the world works these days. Totally an employers market
“…should really be on at least 20% or so more than I am currently getting paid…”
Think well before you really take the final decision just on the premises that you “should be getting 20% or so more”. Getting 20% more is not same as 'should begetting 20% more" in the current job market that too when you are just in Level 2 stage (which you may clear at first attempt or not is a different matter altogether) and need to focus for completing CFA and get the Charter (which, I am sure is your priority).
Remember, there is generally no basis of expecting more and more and then be unhappy due to the resulting feeling of getting ‘less than deserved’ as most of the time the parameters of comparison (e.g. qualification, experience and designation or job responsibilities even in the same organisation) with others are neither exhaustive and explicit , nor equally valid for all cases.
The crucial questions for taking such decision should be (i) are you really learning anything in this role (from your mail it is evident that at least you are getting an international exposure!); (ii) do you like or at least satisfied with your role in the job (many are not as is evident from plethora of posts in AF!); (iii) whether it is 20% less or not, are your current needs being taken care of comfortably, may be with some savings too?
If answers to all is ‘yes’ then thismay not be the right time to think of changing the job.
But if the answers are negative and since you have preference of the areas where you wish to be so you need to finally consider , firstly, will it be easy to get a job paying 20% more with your current exposure and credentials and secondly, will it be easy to get similar job in your preferred location(s)? It is very easy to leave someplace but often difficult to ‘get in’ and get the same ‘happiness’ elsewhere, even with a big difference in salary only.
In any case, don’t leave it unless you have a solid offer in hand and is sure that 20% or extra extra monetary payment will not be negatively reimbursed in the form of some other loss, including extent of learning, exposure, growth prospects and satisfaction from the oother job (often grass seems greener on the other side). Best of luck
I’m just going to ask… why should you be getting 20%+ more? Over inflated ego? Company short changing you on the raises? What is your current job vs. what you want/ feel you should have? Help us out here.
If you want a new job, then start applying for jobs…
Nice posts. I’m in counterparty credit risk, and structure large sydnicated and bilaterel debt deals for private equity funds. Essentially when a fund wants to bridge equity investments and capital calls from investors then they’ll draw a short term loan from a corporate bank…anything up to £200m or so…I structure those deals.
I could probably move into hedge fund credit risk, a different credit role, maybe a transaction managment role…and in some cases front offce. I had a few opportunites last year to interview as an FO NBFI Associate for some Canadian banks here in the London.
I have no doubt I could be on money £s…I’m looking at a £10-20k payrise. If I get a new job in that bracket…i’ll be able to start saving some more money…enjoy myself a little bit more…pay off some more of my mortgage.
I just wonder if it’s worth waiting until after my L2…and after I get back from holiday in China…I’m not sure if employers will look too adversly on 5 weeks off over late May and early July…
Seriously that’s what I did. Granted I applied for 1 job, got an offer, and accepted. Then jumped ship from my old one like a bat out of hell. Don’t let the old job hold you back.
I wouldn’t worry about applying for new jobs while employed unless you know of personal connections between new and old jobs. When I was interviewing, I assume my new employer knew of the sensitivities and didn’t ask for references or anything.
I wouldn’t worry about the CFA lvl 1 vs 2 playing much into it.