I took the role and plan to tough it out. I reserached the past employees in the position, they all left for better companies after a couple years. It seems like the company expects people to only stay in the role for a couple of years.
You guys are right the titile doesn’t mean anything. The job post was for analyst, but the title on paper is financial manager. The job reports to the controller. The job entails bugeting, accounting, and some analysis. So, it seems like i can learn a thing or two.
If there’s quick promotion possiblities then I’ll definitely push for it. But, during the interivew my co-workers were stated to have been in the business or position for awhile. That is why i got the notion the position was expected to have a high turnover rate. Like raw raw said, if I do well and learn the trade, if need be, I can try to get more pay elsewhere.
Question though, I’m getting paid hourly instead of a salary. If I’m working full time then it does come out to around $50k a year. I s it not too uncommon for a analyst to be paid hourly instead of a salary?
I can’t decide if this is real. $50k (paid HOURLY) with an MBA and any work experience just sounds nutty. Especially in Los Angeles.
I don’t know what went wrong with your job search but I’m sorry it ended up with this result. Good luck though. I would immediately be working with recruiters to find a new job if one pops up. There has to be better opportunities out there.
I’m sure if you work hard and do a good job you’ll be rewarded. Good luck.
According to glassdoor the salary for financial analyst in LA is $62k and the national average is around $64k. But again financial analyst can mean anything and salary depends on many factors including your firm’s size. Considering the fact that you have an MBA I would assume $65k-$75k is a reasonable range for you to expect.
To put it in perspective for you, I was offered a corp finance role right out of undergrad (in the armit of the central valley of CA) and the offer was $48k with some OT sprinkled in… 3-years later we hired a douche with an MBA and an MS who didnt know an office chair from a stapler and i’m pretty sure the offer was around 55k. For the job, and his non-existence experience, he was paid fairly.
How would you qualify the 5-years of experience that you have?
One of my favorite topics, let’s rip on newbie MBAs!
We hired some douche with an MBA and CFA, her only real world experience was working at some credit card company (who cares), we paid her $150K range as a financial analyst. I asked her once about investments and she said “oh CFA, I forgot all about that the minute after the test”. She truly knew nothing about anything, and did nothing, but had a HUGE ego because her education. Always raising her hand and offering her opinion. Personally I see real world experience as being more valuable. MBAs with 20yrs experience are great, but these MBA-noobs are a horrible drag on the company.
That’s interesting. Even that douche with MBA and CFA who do nothing get paid that high. Why other people with same creditial still struggling with 55k a year…
I guess it’s all about perception. Someone who went to Harvard might not be smarter than the guy who went to a state school but people tend to perceive them that way.
I made $14/hr as an analyst at a commercial bank right out of undergrad. I didn’t gripe, I took the job, worked hard, and now rank inside the top 10% of earners of my company (yes, I’ve seen my firms headcount compensation spreadsheet).
Who cares where you start, it only matters where you finish.
This. The level of entitlement some people have is unbelievable. I’ve interviewed people to report to me who have salary expectation of earning far more than I do. The nerve/ignorance/both.
So we hire this Harvard chick, and put her in charge of some global ops. She seriously does nothing for years, actually she not only does nothing, but she creates some huge political meltdown at one of our foreign offices. For years I’m pushing this person to do their job, and she fights me every step of the way. After paying her what, maybe $1-2M for nothing but trouble, we finally fired her ass. Guessing she just went and found a new target using Harvard as bait.
Like CFAvsMBA I worked my way up from nothing, so maybe I’m biased.