MomentaLaugh:
so whats going to happen to those in the incoming FT class (Summer 2013)

very curious as well

I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG
 

Doubt the $70k would change. It is already written in the contract and it is way to late for incoming first years to bolt. Second years have more wriggle room in their contracts + more options to leave.

 

If an extra $5k of pretax base impacts your decision at all, you're fucking retarded. Finance is like a poker tournament - all the money is at the final table, the trick is getting there.

If you've only got the one offer, it doesn't much fucking matter does it? If you're choosing between an $80k gig and an $85k gig, ignore the $5k and go with the team that will be better mentors to you. If you were considering the other job but that extra $5k (which will be like, $3k of pocket change after taxes) has your panties in such a twist that you're going to make a decision over it, call your interviewer at the other place and say "yeah, I liked you guys but I have another opportunity offering me a little more money" maybe they'll offer you more money, maybe they'll explain to you why their opportunity is worth eating the $5k, or maybe they'll tell you to walk. It doesn't much matter, you have nothing to lose by being open with the other team. Worst case scenario they say "well, we're not prepared to give you that, take the other job and best of luck in life."

 
Best Response
NYCbandar:
If an extra $5k of pretax base impacts your decision at all, you're fucking retarded. Finance is like a poker tournament - all the money is at the final table, the trick is getting there.

If you've only got the one offer, it doesn't much fucking matter does it? If you're choosing between an $80k gig and an $85k gig, ignore the $5k and go with the team that will be better mentors to you. If you were considering the other job but that extra $5k (which will be like, $3k of pocket change after taxes) has your panties in such a twist that you're going to make a decision over it, call your interviewer at the other place and say "yeah, I liked you guys but I have another opportunity offering me a little more money" maybe they'll offer you more money, maybe they'll explain to you why their opportunity is worth eating the $5k, or maybe they'll tell you to walk. It doesn't much matter, you have nothing to lose by being open with the other team. Worst case scenario they say "well, we're not prepared to give you that, take the other job and best of luck in life."

Those are good points, but it's often not very clear cut what someone's first choice might be. I agree that it shouldn't be the primary factor affecting your decision, but I disagree that it shouldn't be weighed at all.

 
CHItizen:
NYCbandar:
If an extra $5k of pretax base impacts your decision at all, you're fucking retarded. Finance is like a poker tournament - all the money is at the final table, the trick is getting there.

If you've only got the one offer, it doesn't much fucking matter does it? If you're choosing between an $80k gig and an $85k gig, ignore the $5k and go with the team that will be better mentors to you. If you were considering the other job but that extra $5k (which will be like, $3k of pocket change after taxes) has your panties in such a twist that you're going to make a decision over it, call your interviewer at the other place and say "yeah, I liked you guys but I have another opportunity offering me a little more money" maybe they'll offer you more money, maybe they'll explain to you why their opportunity is worth eating the $5k, or maybe they'll tell you to walk. It doesn't much matter, you have nothing to lose by being open with the other team. Worst case scenario they say "well, we're not prepared to give you that, take the other job and best of luck in life."

Those are good points, but it's often not very clear cut what someone's first choice might be. I agree that it shouldn't be the primary factor affecting your decision, but I disagree that it shouldn't be weighed at all.

At the end of the day it's a fairly de minimis difference. I doubt most people will notice the extra $120 in their biweekly paycheck.

 

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