Fun Things I Discovered While Perusing the Compensation Database

So, I've taken some time to peruse through WSO's 2013 Compensation Database, and it's honestly awesome. I've been on WSO for a while, from my time as a bright-eyed undergrad trying to break into a summer analyst gig, to my time as a jaded banking analyst, seeking out the greener pastures of private equity. The site has always provided tremendous value.

With that said, I think the 2013 Compensation Database is among the most interesting and useful things I've ever seen on the site. The sheer amount of information is astounding, and the presentation and formatting would please even the most hardass of Managing Directors.

I highly recommend you do what you have to do to gain access to it. Whether that's adding info a review for the company you work for, insight into an interview you had, or detailing your comp last year, it's worth it. Plus it's anonymous, so there's no fear of anyone finding out who you are.

Now, I'm not here today to drone on about the benefits of the database, rather, I'm here to share a few of the fun things I found while I was digging through it. Read on to find out what I found...

1.) WSO has more senior folks than you might realize:

There are one or two fairly well known posters on here who hold pretty senior positions, but there are quite a few more that are quietly lurking amongst our ranks. Don't be surprised if you see the familiar white and blue background on your MD's monitor the next time you go into their office for a conference call.

2.) WSO has representation all over the country:

As someone who spent a decent chunk of his Analyst stint in a non-finance oriented city, I would have loved to have had this data back then. Sure, I wasn't in New York, but I sure as hell was pulling sweatshop hours. It would have been nice to see how I compared to my fellow banking peers back then with this level of detail.

3.) WSO users have a serious presence at every major consulting house under the sun. McKinsey, Bain, and BCG included:

Having never worked in consulting, I've always wanted a peek behind the curtain to see how my peers in the field were being paid. Sure, I knew about the perks. Work at BCG and you'll get to do plenty of traveling and have a ridiculous expense account. But, what about the cold hard cash?

Pretty damn good. The compensation report has a pretty strong sample size for consulting firms, from the Big Three on down. Whether you're a Consultant at Bain in NYC or a Business Analyst at Booz in Washington, DC, you'll be able to get a good view of where you stand.

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As several of my friends work in finance, the topic of compensation often comes up. Now, we don't necessarily talk specifics in terms of the numbers we get paid. Instead, the focus is always on how you're being paid relative to the market. Sure, you could have a solid year in a good group and get a nice bonus. But, if you find out that your peer at a similar bank made tens of thousands of dollars more than you in their bonus, you'll be justifiably peeved. Having an understanding of what your peers are making can provide you with good ammunition should you ever push for a raise or a promotion. If you're performing at or beyond a market level, you should be paid accordingly.

With that said, I highly recommend everyone checks it out when they have a chance. Even if you're confident that you're being paid a market rate, it's pretty awesome to have a glimpse into how compensation works in different organizations, ranks, geographies, and industries.