Am I being underpaid?
Alright, so let me give you guys the rundown (FYI this is my first post).
I interned (unpaid) at a middle marketfor 3 months (Sep-Dec 2011) and was offered a job with the firm at the end of the year. The terms were $40k salary + a discretionary bonus of up to 100% of my base salary (so possible $40k bonus). I accepted the position and am still with the firm as of now. The hours here aren't too brutal, I average 12 hour days but during peak times I may have to pull 2-3 all nighters in a period of a couple weeks.
My bonus will be paid out at the end of the year, but I have absolutely no idea what it will be. As of right now the $40k salary I am making seems ridiculously low for 12 hour days plus having to pull all nighters and working on the weekends and pretty much no vacation. I compare this with friends working atmaking $50-60k working 9-5 and it makes me wonder why am I still where I am at.
So, my question to everyone is, should I work for the firm for another year? What percent of my bonus do I need to receive to continue to work for the firm? If my bonus is terribly low, how do I approach my MDs with the news that I am leaving based on compensation?
I am happy to provide more information if that helps.
I am located in Southern California
Deal sizes (primarily sell-side) have ranged between $10-50mm
Bonus is paid at the end of the year
Thanks in advance!