Anyone asked for more money?
Seems like every UMM/MF except for mine is giving their Associates more money! Has anyone asked? This is insane! I should just go work in banking at this point!
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No and I’m not sure who you would even ask since associates are pretty replaceable. For what it is worth my MF has also not made any mention of comp increases (currently now making less base salary than third year banking analysts post the recent IB comp increases…)
Oh man, what MF pays their associates less than $110k in base salary (assuming this is the new normal for a 3rd year analyst) for a 2nd year associate? Feels bad...
And here I was pitying myself for only getting a $125k base (UMM)
We are at $120k, but have seen some of the banks now at $125k for third year analysts
Ah gotcha, though if I had to guess your bonus more than makes up for it right?
Would assume a ~150% base as bonus
Yes the bonus is a multiple of base, but still annoying from a cash flow perspective to manage throughout the year. Plus banking associate comp has come up as well
Very frustrating, but for a MF at the associate level you just don’t have that much leverage. I wouldn’t blame you for trying, but I also wouldn’t be surprised if it hurt you to do so. I know experienced LMM associates who have successfully negotiated comp, but it’s a little different when the fund only has one or two and can’t spare resources for hiring
i just started at a LMM but we got random 5k increases to both base and bonus this morning. would have preferred more but whatever: i'll take the reasonable hours, interesting work and fair comp and run with it.
if my 2nd year banking bonus comes in and turns out that total comp is more than what i would expect to make, then maybe i'll subly mention it to my bosses
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