Negotiating Salary?
I applied for a 1st year analyst position at a non-NYC MM IB, and was almost immediately offered the job. Compensation is 50K.
I searched WSO and see that negotiating salary for an analyst is generally frowned upon. It's just that 50K seems a little low compared to the 70Ks I'm seeing thrown around. Not that I was expecting 70K, mind you, but I was hoping for closer to 60K.
Should I just shut my mouth and take the offer? I didn't apply to any other positions so I don't have any leverage. On the other hand, the bank does seem to really, really want me, as my credentials are good, stellar even.
Thanks!
That's like $12/hour. I think you deserve at least $14.
take it.
Things you want to consider is the cost of living in your area, the hours you will put in, bonuses, reputation
At the MM firm I used to work at bonuses were paid out after every deal close. but base is 50k and analysts are doing 40k, 50k, 60k in bonuses on avg every year (1st, 2nd, 3rd year) putting in 60-70 hours with weekends off 75% of the time. and you can rent a decent apartment here for less than $500/month.
Depends where it is, you have to factor in the price of living.
I dunno what youre experience is either (if any) but that usually has something to do with the salary offered.
Do it. Early in your career you are gaining experience which is invaluable. Granted I got paid when I was an analyst but I would have done it for free just for the experience and resume builder.
Don't be short sided.
I negotiated with Wells Fargo. I got 5k more than offered, and their initial offer was already above-street.
People should understand that whenever they get called with an offer, they should immediately ask what is and isn't negotiable after hearing the terms offered. That's what I did.
I asked for more paid time off, they said the package was standard. I asked for a larger relocation package, they said the package offered is standard. So, I finally said that I had 4 more superdays in the next 2 weeks that I wanted to sit-in for before I made a decision, and asked when the offer exploded. This worried them, and they asked what I needed to sign immediately. Boom, extra 5k base salary.
Best part is, I'm gonna be working in a place with a much lower cost of living.
Must be nice negotiating for a higher salary when you have 4 BB interviews approaching. This is anything but standard.
I didnt actually have 4 interviews coming up, lol
this is raw
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