So recently I got an offer for PGIM SA 2023 at the Newark office, which includes: $30/hr, 5k signing bonus, and hybrid work style.I guess what I want to ask is: since the pay seems pretty low, what is the base salary progression from first year analyst - associate? Or is salary range dependent on the team within PGIM?
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Recent thread on 1Y RA comp said market was like 120-160 all in, I’d imagine PGIM is somewhere near the middle of that, with standard step ups in-line with market.
Keep in mind (assuming that you live in Jersey) the income tax on your paycheck will be far less than if you were in NYC. Also you will save lots of money in general not having to buy food and go out in Manhattan, so it pretty much evens out with most NYC AM intern pay. The 5k sign on is super generous, I know of MSIM interns who got that same hourly wage without one and no living assistance.
Know someone at PGIM:
Base: 90k
Bonus: 10 - 30k based on performance
All in first year: Closer to ~105k
Please correct me if I’m wrong 👍🏻
Have a friend in RE there, closer to 115-125 all in for first years.
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