ahhhrn Wrote: ------------------------------------------------------- > Rydex Wrote: > -------------------------------------------------- > ----- > > I sure hope you dont only make $5,000 than when > > you were a client service person. You were > > getting $75k as client service including bonus? > > > Yes, $5k more now than when I was in client > service where I made $75k with bonus. I didn’t get > a chance to renogotiate my salary when I switched > roles as it started as a temporary role and > morphed into full time at the end of the year. My > chance to renegotiate is now. ahhrn, My guess is that 75% of forum participants have no clue what they are talking about. Given education background, years of experience, CFA (good job!), industry and location, I believe you are severely underpaid. You should be shooting for around 80-100K base salary, closer to higher end. Given this year, don’t expect much of a bonus, but that’s understandable. You should make a summary of all of your roles. Mention all the significant projects where you created value (preferably measurable as in people-hours cost reduction). Collect industry statistics and bring it to your management attention. When I was joining my current firm, I was able to get nice 15% raise in base salary, just by pointing out current industry norms. Fairly certain, they were just not aware of them. It might be that your direct boss is unaware of you salary level. Or he might be a jerk. Both are possible. Don’t be afraid to explain the situation, but be prepared that given current industry problems they might be budget strained. Good luck!
ahhrn I agree wih Trogdor. You should be at or very close to the 100K mark in NY. The salary question comes up way too many times on the forum (second to CFA vs MBA posts) and you will always get some funny posts when you talk about $$$s.
stylemog Wrote: ------------------------------------------------------- > its quite amazing how much less mutual funds/asset > mgmt firms pay compared to investment banks and > HFs. of course that’s going to change completely. Agreed. Are you in NYC? Just curious why you didn’t choose to go into banking with your Columbia background. You’d be well into the six figures as a BB ibanking analyst or research associate by now.
Trogdor, Bursting on the AF scene in highly informative and articulate fashion. Keep up the excellent posts, man! (or woman)
55 min, max 95
This is an impossible question to answer because there are so many other - external - factors to consider. You don’t know what your boss’ budjet is for the department you don’t know that TOMORROW he might be fixing to sack half of your floor. Especially in times like this asking a question like this is very difficult. I recently [July 2008] took on a new PM role in which I have had to work/slave harder than I have ever had to. I got my CFA in 2005, I have nearly 10 years under my belt in terms of work experience and I generally think I know what I’m doing. So. When I asked the question to a Senior member of my firm about “Shouldn’t I be getting more money” I got the “Listen, times are tought, the LAST thing you want to do know is be bitter and start flashing dollar signs around to your boss”. “You should consider yourself luck that you have a job in this market, and 3 to 5 years down the road you’ll be richly rewarded if you stay put, shut your mouth and do your job”. That’s the world we live in gents. If you didn’t think CFA was long term it is now. So if you want to bail out, you can. But don’t be bitter when those who slugged through this are making a killing them next time the market goes bananas while you took a risk on entering a completely new profession. Willy
In this market, if you think you are underpaid, then you find another job to figure out your true worth