Entry level salary
I have an interview for the analyitcs group at a DC metro area consulting firm. I am a senior and was wondering (if the subject comes up) what strategy should I follow if they ask me my desired salary?
a) Review glassdoor and state my amount desired based on that? Or should I never be the first one to name a $ figure?
b) Should I ask for the "market competitive" amount?
c) Should I base it on my living expenses and add a certain %
d) another method...?
Also, how do I best negotiate my signing bonus?
Go to Glass door to see what other people in a similar position are making in the same geographical location.
The standard answer should be: market competitive. Unless you absolutely have to - don't be the first to say a number.
ragnar has good advice...do not tell them you don't know because that is a big mistake.
alright thanks for the advice. This is my first "real job" interview so i'm a little nervous ; don't want to low ball it but also don't want to price myself out of a job.
I agree with Ragnar's answer.
For your own curiosity, the range of base salaries is $65k at the lowest to around $80k at the highest (boutique/smaller firms). MBB and the other more competitive firms are all within $70-$75k.
EDIT: Unless this is a non-travelling, DC-specific role. If it is, then I wouldn't be surprised if it fell in at the lower end of the scale.
tell them you want to get paid what the CEO makes
what are your monthly living expense... dont know? what are your forecasted monthly living expenses? now add 160% to it... thats your negotiation start range (read, wishful thinking amount)... at least thats what i did
but i work for a government agency... i can afford to do stupidness like that lol
The post above is correct - analysts will make in the range of $60 to $80K.
One thing to keep in mind is the signing bonus. You should (hope?) to get offered $5 - $10K.
$60k at the lowest? ..i think its lower than that, especially for a senior coming straight out of undergrad. i think $50k is the lowest...i know first hand that PwC and The Advisory Board start at around $50-$53k. my 2cents
Lowest can reach $50k, however the best strategy is going to look up the company on glass door for similar positions at the firm. If you can't find that firm on glassdoor, look up other similar companies. Any northeast city is going to pay roughly the same.
Do not be the first to put down a number, do your research on glassdoor.
Legit firms don't ask this. And if they do, be concerned that they are trying to find your reservation price. What does it say about a firm that would like to get away with paying you as little as possible?
Agree with above, that discussion is usually left for after you've jumped through all the hoops and are about to make your way across the finish line...
If it's a smaller firm then you'll have some negotiating power. If the firm is large you're bargaining leverage is almost non-existent as you'll be offered the same amount as the person before you and the person after you. Most likely they're not going to ask you, but rather tell you what you'll make.
This is your first "real job" interview so I'd be worried about a lot of other things rather than how much you'll be making. If they ever bring up compensation it's probably a very good sign though.
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