Portfolio Manager- need some comp advice PLEASE

Hey everyone. L3 candidate and PM here. 9 years of experience from broker to PM. The issue is, I’ve been grossly underpaid (from talking to peers)since I made the move from wire house to investment management on a larger team. It’s the main reason I’m making a love. No masters degree.

Now I received an offer earlier this week and have to counter by Monday. PM for an investment management company. Prolly $600 million total under my discretion. 315 accounts. Can someone DM me with advice and what I should counter?

The counter should probably come from your existing employer if they want to keep you. Obviously not going to get that counter offer by Monday so if the pays aligned to what you are expecting and you are happy with the other factors to consider then just accept.
If your existing employer comes back with a counter then you’ve the option to stay but with higher pay.


I mean the offer I received middle to last week wasn’t quite enough and I want to make sure I’m in my market.

Just ask for what you want and gauge their response to decide next steps if you need to.

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I read once inside my old office buildings elevators - the elevator had TV’s inside them - that you should never accept a counter offer to stay at your current firm, because you’ll ultimately end up unhappy again if you were (which how could you not be if you knew you weren’t being paid well enough).

Perhaps that bit of advice was meant for you and not me though.

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Did they not ask you what you were looking to make during the interview process. Usually this is handled early and saves everyone a ton of time.

Check Glassdoor and/or pay scale to see what the position typically pays. Gauge your counter based on your skills/experience vs what they’re looking for.