Former bankers, how much of a pay cut were you willing to take for "regular" corp finance job?
Currently in my 3rd year as a corp banking analyst and pretty much looking to get out ASAP. Mainly looking for a better work/life balance. Had an interview with an F500 for an FP&A role, but pay cut was too much from my current base (-$15k). For those of you who made the jump or are in the same boat, how much of a pay cut did you take or are willing to take? This is assuming staying within the NYC area.
after 3 yrs were you interviewing for a SFA role? out of curiosity, whats your current base? bonus structure?
I switched jobs after 2 years as an IB analyst to a corp dev gig as a senior analyst. I did not take a decrease in base (they matched the new base salary I was in line for at my bank), but obviously bonus potential is much much lower.
What are your current stats?
I was interviewing for an analyst role, and was trying to leverage it to a SFA role, which unfortunately didn't happen. My current base is 95, with ~50% bonus.
Oh gotcha, well, I guess I was lucky, I am in the South, and after two yrs at a no name boutique, I moved into corporate at 85 base, keep in mind, low cost of living. I was very picky about the role I moved into, as I wanted to be on a fast track and good exposure. I have a director, but I also work with CFO directly quite a bit. The demand for finance talent is high down here, and corporations around here love seeing some banking experience. I think I could have waited longer and got a gig for around 100k base, but I figure, I could do this for 3-4 years, then if no promotion or not seeing a career path at the company, I could easily recruit into a sr manager role at 130+
I spent two years in IB before leaving for corp dev a few months ago. My base salary actually increased by a decent amount, but I am sure my bonus will be much smaller.
I spent 3 years in ECM, took a demotion and did N2 / N3 over in IBD, got promoted to associate, got Corp Dev sr. analyst job $120k base + ~20% bonus. They met me in the middle between my $100k N3 salary and my $150k associate salary. I'm at a mid cap firm where we play fast and loose with titles though - I report to the director of M&A and its just the two of us executing / sourcing M&A with two jr. analysts.
Voluptate praesentium nobis soluta rerum iusto voluptatem. Qui nemo ratione ut voluptatum praesentium delectus. Molestiae dolorem sed sed ut aut aspernatur et quae. Autem voluptatem nihil facilis quia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...