What am I worth/Job offer???

Hi Guys, I currently work at a Registered Investment Advisor w/ a little over $1 Billion in AUM. I trade our client’s accounts along w/ 1 other guy. After the market closes I do a lot of research, portfolio comparisons for prospects, giving advice to advisors & etc. I’ve reduce trade errors dramatically; the 2 years before I took the position we paid about $40k/year in trade errors, in the year & a half I’ve had the position we’ve paid under $10K(I’ve personally cost the firm about $500). I use my discretion in trading, I don’t just take orders but at the same time we use model portfolios, so I kinda do. I’ve only been out of college for 2 years; BA in Business w/ a concentration in Finance. Series 65 & Level 2 candidate (all of which dont mean much). The best thing i have is that I’m a great problem solver, make those that I work with better, and have improved every department I’ve been in. I only make $50k and we dont see substantial bonuses. I’ve been offer another job at a much smaller company, which means less job security. I dont even have to trade at the new place and the offered about $55k + a raise in 90 days (“probably another 10%”) Any advice? I’d rather not take the new offer, if I ask my Boss to match and he doesn’t want to am I f*cked? Should I keep looking, negotiating, take the offer, try to get my boss to match the offer? I feel like because Im 2 years out of school/25 yrs old I’ll have a hard time doing any better.

so there must have been some reason you went on the interview, something you didn’t love about your current job? if you do want to stay, when I was in the same situation, I was able to negotiate a raise by letting them know that I had another offer, but I really wanted to stay, and what could WE do so I could stay? It’s really a sales pitch but if you approach it as though you are partners solving a problem, that should get you somewhere. I did this at a place which initially said they would never negotiate as they used to in the past and the people left anyways, so I first painted the rosy picture of all the plans we had for the future, then … “what can we do to make these come true?” etc. No you are not screwed, negotiating is part of work life. This new firm is showing you what they think you are worth, which is about 20% more than your current firm thinks ($5k on $50k now plus another 10% later), that’s a nice bump. ask yourself why you want to stay? what can you get where you are that you can’t get at the new job? do you just feel guilty? if so, get over it. you don’t owe them, you gave them 2 good years.

Systematic Wrote: ------------------------------------------------------- > Hi Guys, > > I currently work at a Registered Investment > Advisor w/ a little over $1 Billion in AUM. I > trade our client’s accounts along w/ 1 other guy. > After the market closes I do a lot of research, > portfolio comparisons for prospects, giving advice > to advisors & etc. I’ve reduce trade errors > dramatically; the 2 years before I took the > position we paid about $40k/year in trade errors, > in the year & a half I’ve had the position we’ve > paid under $10K(I’ve personally cost the firm > about $500). I use my discretion in trading, I > don’t just take orders but at the same time we use > model portfolios, so I kinda do. > > I’ve only been out of college for 2 years; BA in > Business w/ a concentration in Finance. Series 65 > & Level 2 candidate (all of which dont mean much). > The best thing i have is that I’m a great problem > solver, make those that I work with better, and > have improved every department I’ve been in. > > I only make $50k and we dont see substantial > bonuses. I’ve been offer another job at a much > smaller company, which means less job security. I > dont even have to trade at the new place and the > offered about $55k + a raise in 90 days (“probably > another 10%”) > > Any advice? I’d rather not take the new offer, if > I ask my Boss to match and he doesn’t want to am I > f*cked? Should I keep looking, negotiating, take > the offer, try to get my boss to match the offer? > I feel like because Im 2 years out of school/25 > yrs old I’ll have a hard time doing any better. Wow, we pretty much have the exact same job. I’m a L2 candidate, 65 & 7, and 2 years out as well. I probably do somewhat less trading than you. I’ve also been given an interesting basket of orphaned clients over the year that have made my job “fun”. It’s kind of hard to see clients when you are the only trader in the entire firm. Our trading process was terrible before I showed up too. While the RIA route is nice I think I would enjoy seeing the environment at a much much larger firm. At some point in one’s career, it definitely helps to have that F500 company on the resume to serve as a reference point for future employers. What do you want to do? Is the job at the other firm that much different? Don’t ever sell yourself short. Right now, $55K + Small Bonus is not bad 2 years out, especially now. I’m sure there are kids that would take $25K to have your job.

i would do it for $20k and live in a box round the corner

Ski2Much Wrote: ------------------------------------------------------- > i would do it for 20k and live in a box round the \> corner OH YEAH!? Well I would do it for a box of pop rocks and a nice firm smack on the as

ASSet_MANagement Wrote: ------------------------------------------------------- > Ski2Much Wrote: > -------------------------------------------------- > ----- > > i would do it for 20k and live in a box round \> the \> \> corner \> \> \> OH YEAH!? Well I would do it for a box of pop \> rocks and a nice firm smack on the as i’d do it and your sister - like whoa

mar350 Wrote: ------------------------------------------------------- > ASSet_MANagement Wrote: > -------------------------------------------------- > ----- > > Ski2Much Wrote: > > > -------------------------------------------------- > > > ----- > > > i would do it for 20k and live in a box \> round \> \> the \> \> \> corner \> \> \> \> \> \> OH YEAH!? Well I would do it for a box of pop \> \> rocks and a nice firm smack on the as > > > i’d do it and your sister - like whoa OH SNAP!

“ask yourself why you want to stay? what can you get where you are that you can’t get at the new job? do you just feel guilty? if so, get over it. you don’t owe them, you gave them 2 good years.” The Company I’m at now is 3 times bigger (in terms of AUM), I like my job, coworkers, it look better on my resume; I have a million reasons to stay and one really good one to leave; money. (well different work experience too, as far as investing style) The job at the other firm uses a lot of the same software, it’d be a relatively easy transition. The guys that interviewed me were great; very knowledgeable and genuinely nice. That was their first offer though, I plan on countering.

got it. a bigger firm definitely has advantages over a smaller one, that’s for sure. well if you stay, consider asking for more responsibility/expanded role.

I would say you are probably overpaid.

charlottekid Wrote: ------------------------------------------------------- > I would say you are probably overpaid. Thanks dude, I’ll ask my boss to reduce my pay by 50% tomorrow.

Systematic Wrote: ------------------------------------------------------- > Thanks dude, I’ll ask my boss to reduce my pay by 50% tomorrow. You think the company will go for it? Be sure you are well prepared to defend your arguments as to why you’re only worth 50% of what they think - remember to be confident and make eye contact. You can do it! Good luck!

Still would be overpaid. Systematic Wrote: ------------------------------------------------------- > charlottekid Wrote: > -------------------------------------------------- > ----- > > I would say you are probably overpaid. > > > Thanks dude, I’ll ask my boss to reduce my pay by > 50% tomorrow.

charlottekid Wrote: ------------------------------------------------------- > Still would be overpaid. > > Systematic Wrote: > -------------------------------------------------- > ----- > > charlottekid Wrote: > > > -------------------------------------------------- > > > ----- > > > I would say you are probably overpaid. > > > > > > Thanks dude, I’ll ask my boss to reduce my pay > by > > 50% tomorrow. I lol’ed.

I’m sure you earn every penny of you salary in the mailroom at Bank of America… Can you go back to trolling the Jonas Brothers message boards now? Thanks, sport. charlottekid Wrote: ------------------------------------------------------- > Still would be overpaid. > > Systematic Wrote: > -------------------------------------------------- > ----- > > charlottekid Wrote: > > > -------------------------------------------------- > > > ----- > > > I would say you are probably overpaid. > > > > > > Thanks dude, I’ll ask my boss to reduce my pay > by > > 50% tomorrow.

We have very similar job here. I’m a level 3 candidate, series 65, and 09 graduate and currently make slightly more than you make. At my job, I myself manage and execute trades for all of our clients ($500 million) with iRebal and Tamarac, spend a lot of time doing research, creating tools based on Excel to make advisors’ life easier (ips generator, portfolio comparison, etc,.), and developing presentations for advisors. I’m the only trader and do a lot of things that advisors don’t want to do. Even though I’ve only been here a little more than a year and enjoy working here, lately, I’m trying to get into investment banking or consulting…I just don’t see future being working at an investment management company (unless you work at wellington or pimco) as portfolio analyst, investment associate, or whatever they call it. I guess it all depends on what you want to pursue later, but as Chuckrox8 said, it will never hurt to have a big company on your resume, which I’m trying to do. Good luck.

Thank dhyun3, I turned down the preliminary offer. I think that if I’m going to leave the Co. I go to needs to be more prestigious than where I am now. If not, I’m increasing my pay but decreasing my future value when it comes to work experience. I’m familiar w/ Tamarac & iRebal. My employer opted not to use either because of their lack of flexibility for what we’re trying to do. (We actually put $30k in the trash can by purchasing Tamarac in the past). So I get no recommendations for trades to place and everything is manual entry. I’m currently working w/ a SQL programer to design a trading application.

Systematic, can you drop me an email at dhyun4@ gmail. com. I just have a few questions to ask. Thanks.

Excuse me for my ignorance, but is your position like a stock broker for instituational investors ? And I always thought trading was a high profile very-lucrative job, is it only for the big investment banks that trading is a very lucrative career ?

At least i am not overpaid. And I only like Joe Jonas. So there. Systematic Wrote: ------------------------------------------------------- > I’m sure you earn every penny of you salary in the > mailroom at Bank of America… > > Can you go back to trolling the Jonas Brothers > message boards now? Thanks, sport. > > > charlottekid Wrote: > -------------------------------------------------- > ----- > > Still would be overpaid. > > > > Systematic Wrote: > > > -------------------------------------------------- > > > ----- > > > charlottekid Wrote: > > > > > > -------------------------------------------------- > > > > > > ----- > > > > I would say you are probably overpaid. > > > > > > > > > Thanks dude, I’ll ask my boss to reduce my > pay > > by > > > 50% tomorrow.