fredfunk, i think how much you get in future salary has a lot to do with your current salary. i don’t think your not coming from ib makes you that much less qualified so don’t feel like you are disadvantaged from a technical perspective…it’s more about your current salary bc the more you make at your current job, the more they’d have to pay you
thx numi. that’s a good point. given my current salary i think it’s a very fair offer. i’m at a lower MM pe shop, i’m not making banker pay but my comp. is in line with the hours i work.
so from all accounts, you are going to take the PE job (i definitely would, too). my suggestions are regarding what to do with your current employer. Did you get any signing bonuses or special perks in the short time you’ve been there? If so, giving them back would probably help smooth things over somewhat. They have not yet seen any reward from hiring you since you’ve only been there a short while…its probably cost them quite a bit (both directly and indirectly) to have you come on board. I realize some people here would balk at such a suggestion, but it doesn’t appear to me that your current employer has done anything to warrant this, so taking a bonus/perk and running doesn’t seem right to me… Give them as much notice as you possibly can. Explain your situation to them and that you realize you are not helping them out by quiting so soon, but that you’d like to try and make it as easy as possible for them to find someone to replace you. If you do this right, you may not totally burn bridges with your current employer, but you need to be appologetic and forthright.
kkent, I think you are asking for it by job-hopping so much. Clearly if you take another job, you will just find something else wrong with it in another three months. You aren’t even 6 months out of undergrad, correct?
sub par grades, no internships, and a job hopper straight out of undergrad, Hmmm…
numi Wrote: ------------------------------------------------------- > generally $150-210K is that all in? either way its pretty good for just a few years of experience.
the $150-210K figure is for the transactions side – i.e. the role that fredfunk04 was describing, as opposed to kkent’s. that figure is definitely all-in. keep in mind that the vast majority of pre-MBA’s in PE did a two-year stint in investment banking, while the remainder generally came from big 3 consulting or bulge bracket research…so if you think about it that way, the payscale makes more sense.
I’m not taking the PE job. The guys at this company were really nice to me and are actually interested in me for a CMBS position as well, but there are a number of issues: 1.) I like my current job. I wear t-shirt, jeans, and sandals to work; my hours are whatever I want to make them, so long as I get my work done; my firm treats me well; I’m good at my job and I THINK I have the potential of being real good at the position as I get promoted and times goes on. I’ll eventually get to work from home 1 to 2 days per week. But my pay is pretty darn low right now. 2.) I’m not smart enough for these high-level types of finance jobs–I was a mediocre finance student in college, a mediocre IB analyst and I’d be a mediocre PE analyst or whatever the heck it is. 3.) I truly, honest to God think many people in the finance profession have lost track of reality. In my interview on Friday, I asked them about the hours, and they responded, “The hours aren’t bad. You only work about 80 hours per week 4 weeks per quarter. The rest of the time, you only wor about 60 hours.” Having a work/life balance is difficult enough working 45-50 hours and studying for the CPA and CFA exams. I’m staying at my current job. I’m independently wealthy enough (thanks, dad–God rest your soul) that I don’t need to work 60-80 hours per week in a role that I won’t excel in. Just isn’t worth it to me.