Hey guys, could use some guidance here:
I currently work in wealth management and have been loosely applying for jobs (basically only easy applies on linkedin). I got a call for an equity research job with what looks like some great people at a small-ish firm. They called me and asked me what my salary expectation is, I told them a number that was less than I make now because I thought it would improve my chances of getting the job and it’s not the easiest industry to break into.
I’ve gone through the interview process now: 4 interviews total. I’ve met all the partners and my would-be manager. Everyone seems to like me a lot and they’ve stated that in our many emails since my first interview. They’ve given me the offer with my asking salary (keep in mind I only told HR this salary, no one else, and I’ve been in contact with partners ever since). Problem is, my contract doesn’t specify any bonus ontop of this base salary and without a bonus I’m effectively making ~30% less than I would be at my current job.
My first line of defense is an email asking about the bonus structure/total compensation. I fear they’ll get back to me and say that my salary is reviewed annually and that there’s no bonuses (maybe since the firm is on the smaller side..) or that bonuses are up to their discretion and I could end up with just my base.
Second line of defense is to ask for a higher base. This is really my issue because I’ve already stated to HR the exact number that they gave me (meaning it was too low, lol). Can I go back on this or do I just look like an idiot?
Some guidance would be very helpful as I don’t have much experience in negotiating compensation/industry standards.
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