Hi, I am currently looking for a job in London and I’d like to know where I should aim in terms of salary. I have less than 3 years work experience, entirely in risk management, I am a Level III candidate, PRM, FRM, I hold a MSc Finance from a top European university and I am proficient in programming. I am now interviewing for some jobs with base salary ranging from 50k to 70k and I was wondering if you think that this is appropriate. I am also thinking of moving to a FO job (trading / structuring). Your hopinion is greatly appreciated.
50-70k sounds about right. I doubt you would get more. I would not worry about 5-10k in your base if you are aiming for trading or other FO roles. Your bonus will usually be a multiple anyway.
Aim for 65 thousand pounds base.
Neud Wrote: ------------------------------------------------------- > Aim for 65 thousand pounds base. In risk management? I would not hold my breath. Less than 3 years of experience… An associate in IB / S&T makes a base of £60k and that takes 3 years for about 90% of people. Risk management gets the same base without bonus upside. For me, I would have said £50-55k. I know someone at UBS in risk management. 3 years of experience and I’d be very surprised if he is on more than £50k.
Etienne Wrote: ------------------------------------------------------- > Neud Wrote: > -------------------------------------------------- > ----- > > Aim for 65 thousand pounds base. > > > In risk management? I would not hold my breath. > Less than 3 years of experience… > > An associate in IB / S&T makes a base of £60k and > that takes 3 years for about 90% of people. > > Risk management gets the same base without bonus > upside. For me, I would have said £50-55k. I > know someone at UBS in risk management. 3 years > of experience and I’d be very surprised if he is > on more than £50k. yep - but this person is looking to move so if your friend considered moving to a new firm he/she would expect a jump of around 20%min to even bother i.e 60k’ish… you can’t expect a huge jump from what you are currently on so it depends on what sailor brings in now…
65 k in risk management is fine. IB/ST associates’ 60k base is about 30% of their total income, and in risk management bonuses are nowhere near that, so be in line with at least a base sounds reasonable
Unfortunately, I can’t bring any hard numbers to the table yet, so this is speculation… However, I think until you are more senior, salaries (base salaries, that is) are pretty much set in stone. That, in my opinion, is the pay culture in the UK. I would also point out that, although I don’t think it matters, the subject of our thoughts is looking for a job in London as opposed to being headhunted. I appreciate that what Neud writes sounds fair, I just don’t think it works like that. Bottom line I guess, is that I am quite sure £55k+ will be a reasonable offer. This also affords a pretty comfortable lifestyle in London, provided your own personal savings rate is not a chinese-style 40%.