I have a former student (just graduated in December) who is about to receive an offer for a performance analyst position. It’s in the Fixed Income area - a pretty good sized shop (>$10B AUM) on the east coast. He’s an undergrad, with no prior experience but has passed L1. He was asking me what kind of salary range he might get offered. Since I’ve never had a student looking at this position, I wasn’t sure, and thought I’d throw it out to all you AF folks. Any insights?
I’d say in the $50k - $60k range with a bonus around 5% of base.
Yeah, 65K (ie. double the average US household income) is pretty reasonable for an undergrad with no experience.
ask not what we can pay you, ask what YOU CAN PAY US!!!
Minimum wage then?
40K
One last piece of info (I forgot tp mention before) - it’s in what I’d call a 2nd-tier city (i.e. not Boston, NYC, or Philly). So, cost of living will be lower.
Philly is a Tier 1 city?
30K.
$17,500
If he is a Perf Analyst with no prior experience not in NYC then 35-40k at most, its entry level. In NYC that would go up to maybe 50-60k due to higher taxes and such.
I don’t see why they’d offer more than $35k in this climate. I mean, if they offered him $30k would he turn it down? The company can assess how he performs and the economic climate at year end. If he’s done well or the job market has picked up and it looks like he could actually move to a better paying job, then they can always bump him up to $40k next January. As an undergrad with no experience, I’d say beggars can’t be choosers here. Anything more than $30k is a bonus.
The new bonus is having a job!
In Boston, 1-3 years of experience in fund accounting and passing level 1 gets you a job as a performance analyst @ a custodian. From what I heard its 45k + 5-10% bonus. In a smaller city the job should pay mid to high 30k.
bigwilly Wrote: ------------------------------------------------------- > If he is a Perf Analyst with no prior experience > not in NYC then 35-40k at most, its entry level. > In NYC that would go up to maybe 50-60k due to > higher taxes and such. NYC is the magic fairy land. Everyone gets paid 50-60K with no experience here just because it’s NYC. No one’s getting laid off and Wall Street’s not in trouble. I heard the cashier at Burger King was getting 75% matching on her 401k. But only because she works in NYC.
bigwilly Wrote: ------------------------------------------------------- > The new bonus is having a job! haha
BiPolarBoyBoston Wrote: ------------------------------------------------------- > In Boston, 1-3 years of experience in fund > accounting and passing level 1 gets you a job as a > performance analyst @ a custodian. From what I > heard its 45k + 5-10% bonus. In a smaller city the > job should pay mid to high 30k. good gracious that is WEAK!! especially when you factor in the cost of living for Beantown…
SkipE99 Wrote: ------------------------------------------------------- > BiPolarBoyBoston Wrote: > -------------------------------------------------- > ----- > > In Boston, 1-3 years of experience in fund > > accounting and passing level 1 gets you a job as > a > > performance analyst @ a custodian. From what I > > heard its 45k + 5-10% bonus. In a smaller city > the > > job should pay mid to high 30k. > > > good gracious that is WEAK!! especially when you > factor in the cost of living for Beantown… Living on 40-50k is very definally do-able in Boston. I started out in fund accounting and moved on to performance measurement later and lived on these salaries for a few years. I had food, shelter, heat, never late on any debt payments, granted I never owned a car so that made things easier. With 3-5 years of performance experience and CFA you can probably bring in 60-80k + 10-20% but a fresh grad with no experience and passing level 1 really aint that special.
In this economy, I would think all-in of around $50-55K would be appropriate. Never hurts to ask for $60-65K all-in – if you don’t ask, you don’t get. “ALL YOUR BASE SALARY ARE BELONG TO US”
Thanks for all the input. I’ll pass it along.