Thanks for letting us in on the pay. I wish more people did this.
its really important that we all disclose pay because otherwise no one will know when they’re getting lowballed. At the associate level, i would say that 90% of every company can easily afford to up offers 10k to compettive levels of around 90 for an ER position. That is what the position is worth IMO. If Full analysts make well over 250, then 90 is fair for the person who gives them all the info.
Make sure you emphasize this point in interviews. Use it to segway into the introduction.
CPAbeatsCFA Wrote: ------------------------------------------------------- > its really important that we all disclose pay > because otherwise no one will know when they’re > getting lowballed. At the associate level, i > would say that 90% of every company can easily > afford to up offers 10k to compettive levels of > around 90 for an ER position. > > That is what the position is worth IMO. If Full > analysts make well over 250, then 90 is fair for > the person who gives them all the info. Actually, there is a huge difference between base and total comp. Coverage analysts at the VP level get $125-150K in base; the rest is in year-end bonuses. So, when you are comparing “$250K” vs. “$90K,” that’s not exactly apples-to-apples. There are certainly associates that are getting $90K base these days, as there were years ago, but most of them have 2-3 years of relevant experience (investment banking or equity research primarily, but occasionally big 4 accounting and consulting too), early promotes, or already have some advanced degree (like MD or MBA).
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$80K base sounds right for those with no direct experience. If you have an MBA, obviously higher. For those that think $80K is low, the way I see it is that if you have no direct experience, you’re pretty much useless for the first few months and you’re getting paid to learn. As for VP level, today’s market pay is more like +$175K base.
The pay structure has changed. Now associates can bag a base of $100K - $140K + bonus.
pimp Wrote: ------------------------------------------------------- > The pay structure has changed. Now associates can > bag a base of $100K - $140K + bonus. Is this due to bonuses being lower, vested stock compensation replacing cash, or neither?
This is due to bonuses being lower. Bonuses can now range from $20K and up. bpdulog Wrote: ------------------------------------------------------- > pimp Wrote: > -------------------------------------------------- > ----- > > The pay structure has changed. Now associates > can > > bag a base of $100K - $140K + bonus. > > Is this due to bonuses being lower, vested stock > compensation replacing cash, or neither?
^ pimp, where is this taking place? The only situations where I’ve heard that for are senior associate/associate VP roles, and they’re basically close promotes to VP’s. I don’t know any banks that *start* their associates off at significantly over $80-90K, which is what I thought this thread was about. *Investment banking* associates were comped at $100-120K base depending on seniority as the end of 2009/beginning of 2010, so I’m surprised that the numbers you reported are anywhere near (or even exceeded!) the figures for IBD. Anyway, I’d be curious to know more about those compensation numbers as I wasn’t of the impression that the comp structure has changed materially. My numbers are based off industry compensation reports for 2009/2010 and conversations with a number of friends/peers, as well as my own experience working in equity research.
What are the education and work experience requirements for these jobs? CFA is a must it looks like along with a top tier bachelors degree
Associates here don’t start at more than $80-$90k and I’d consider it to be a healthy market (Calgary). Bonuses depend on the shop but you could reasonably expect a 2-3 year associate with relevant experience to be compensated in the $135-$155k range.
I’ll throw out a reference point - this was for a ‘Capital Markets Associate’ (equity research for a superregional bank on the investment banking side) - the recruiter said pay range was 60-85 - bonus structure was up to 100% based on departmental performance. Haven’t heard back - that was on the screening interview.
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MY COWORKER IS INTERVIEWING FOR THE SAME EXACT JOB I WENT FOR!!! hopefully passing L1, the fact that I have ER experience, have more work experience, and that I went to a higher ranked school gives me the edge! fingers crossed!
^ just tell the prospective employer this: “Although he and I also go to the same barber, I have a *slightly* better haircut.” The offer should be yours after that.
CPAbeatsCFA Wrote: ------------------------------------------------------- > MY COWORKER IS INTERVIEWING FOR THE SAME EXACT JOB > I WENT FOR!!! > > hopefully passing L1, the fact that I have ER > experience, have more work experience, and that I > went to a higher ranked school gives me the edge! > > fingers crossed! tell them your AF name, would def be the dealbreaker there.
Glad the jobs are out there, even more incentive for me to pass these exams, thanks!
this was a very unique opportunity as i was sought out by the company that interviewed me because of my industry experience…
CPAbeatsCFA Wrote: ------------------------------------------------------- > this was a very unique opportunity as i was sought > out by the company that interviewed me because of > my industry experience… perhaps that’s what your colleague thought too, but good luck.