What should this job pay?

The location is Twin Cities for a money manager. Based on responsibilities, would this be a middle office role? That is my take on it. Thanks guys. Job Responsibilities Research and analysis of various securities for Investment Committee Investment policy monitoring Trading on multiple custodial platforms Portfolio Reporting/Performance evaluation Optimizing existing software (Portfolio Center, Zephyr, Morningstar, Tamarac) Advisor Plan preparation Educational Requirements Bachelor’s Degree in Finance or related field High level of integrity and a strong work ethic Desire to pursue a career in the advisory business Detail-oriented and self-motivated with excellent organizational and analytical skills Ability to work independently and as part of a team Strong written and verbal communication skills Comfortable working in a challenging and dynamic environment Excellent computer skills

$38-42K per year.

$40K or less?

Numi, how do you figure? 40k seems very low for a position like this.

People throw out the craziest comp figures on this forum… location and company cause comp figures to be drastically different accross the industry.

I figure a similar position pays about $50K in New York, and, given my lack of familiarity with the Minneapolis market, I only assumed it would be at a modest discount because of the lower cost of living. But that’s my opinion…how is my opinion materially different from pimp’s $38-42K? Do you think a position like this should warrant a materially higher base?

I was thinking near mid 40s. Lower than $40k just seems awful. I agree that living is lower out here but still. Had I been more sure of an appropriate wage I would not need to ask. When they ask salary range, I’ll suggest near mid 40s and hope for the best.

You’re never at an advantage putting out the number first. Just let them know that you’re looking for something at least in-line with market…but just make sure you know what that market is. Don’t be the first to put out a salary figure. Hypothetically, if you know that the average market is $45K, and you are really pressed for a number, then say $48-50K. But there are a number of ways to avoid the question of putting out a specific number. Just make sure you know what market comp is…otherwise you’ll be shortchanging yourself. It’d be like bringing a knife to a gunfight when you should actually be carrying a nuclear warhead.

I don’t think it could be less than $40K. I would assume mid- to high-40s. There is certainly a comp discount when you live in MN vs. NYC, but it’s pretty narrow at the lower levels. People make in the $30-40K range with technical degrees or in fund accounting. This would have to be better.

i can always count on cfa2grunt to come out of nowhere and shoot me down…j/k


drop me a line at porcupines AT gmail, thx. not sure how much i can help since you know i’m in a different field, but i’ll try my best

Aw, I didn’t mean it that way, numi! By the way, have you started your new gig yet? If so, how’s it going?

cfa2grunt Wrote: ------------------------------------------------------- > Aw, I didn’t mean it that way, numi! > > By the way, have you started your new gig yet? If > so, how’s it going? haha, i was just kidding :slight_smile: i started my new gig last week and things have been OK so far. it’s been pretty chill lately as evidenced by the fact that i still have time to post here, as the flow of attractive deals has slowed down quite a bit due to the credit crunch. however, we’re still looking at buyout opportunities and there are definitely a good number of them in the middle-market still…but it’s definitely hard to find good companies at good valuations at the moment. however, one good thing that’s come out of this downtime is that i actually have time to get up to speed on things. since i didn’t come from the banking side, a lot of stuff like tax considerations and deal structuring is pretty new to me, but at least i can take some time to learn this stuff without a million things flying at me all at once. overall, i’m much happier being on the private equity side - there’s definitely less bureaucracy, more pleasant work environment, and more interesting work compared to the sell-side. i’ve only been doing this for a couple weeks, but from what i’ve seen, i don’t think i’ll ever go back to the sell-side. how’s everything going on your end?

Today is my interview for this job Portfolio Management Group-Assistant. I’m a bit nervous. Does anyone have any last minute tips or have suggestions of things to be sure I mention?