Don't have an offer yet, but I am a recent graduate and will be interviewing with a family office investment advisory firm that deals with UHNW multi generational families, endowments, and non profits. Don't have any other offers as of now, and the recruitment process initially started with a head hunter/recruiting firm representing the company. The guy who is simply a recruiter asked me what my salary requirements were, and well I shat myself, so over the phone I gave a humble amount and said "market rate or about $60,000." The position would be some analysis on investments but nothing too complex. When I said 60k the guy lit up and said that "Oh yeah that won't be a problem at all. That could easily be accomodated." Then I thought to myself.. "well fuck me, should've asked for more."
The guy I spoke with doesnt work for the firm, he is simply a recruiter that represents them. When I come in to actually speak with people that work for the company, assuming I get an offer or salary comes up again, how can I try to up this number. I'm thinking that a $70k base salary wouldn't be too much to ask for, and then hoping for a $10k year end bonus or something that would put me at a respectable $80,000 all in for my first year.
Associated resource: Family Office Database
Is this in NYC?
Wanna keep anonanimity but a major US city/financial hub and high cost of living.
You may have lowballed yourself a bit with the HH, but you can and should reset the compensation convo if you get an offer.
My firm has a multifamily office business. The new hires for that business are recent accounting grads from nontarget schools. They do accounting/bill pay and other BO work. I'm not sure but I think they get $60-$70 all-in to start. (Not NYC.)
The investment team handles other businesses as well as the family office work. New hires usually attended a target, have an advanced degree and/or CFA/FRM, and have significant work experience. All-in comp is > $80K salary + bonus heavily dependent on firm performance & AUM growth.
Just keep in mind: when your comp is salary + bonus, and it's a small firm, you may think you're a great negotiator to get that extra $10-$25K on salary, but they can make that up just by taking it out of your bonus. As time goes on, what matters is how much they think they have to pay to keep you from going somewhere else.
Delectus enim sit consequuntur consequatur ullam sunt omnis. Nisi quibusdam veritatis voluptas voluptatum. Itaque culpa eius recusandae ipsa amet fuga. Et perferendis ut aperiam provident debitis distinctio.
Voluptas aut iste iure iste perferendis. At quasi illo quo harum et magni corporis omnis.
Animi quia nostrum perferendis qui. Esse occaecati blanditiis doloribus soluta omnis officiis. Sequi consequatur molestiae consequuntur quia molestiae. Vero explicabo doloribus dolor ut dolores odio occaecati.
Modi deleniti id ea magnam. Earum quis natus sed harum reiciendis non repudiandae. Pariatur harum ut in repudiandae non. Ullam molestias ea sint et sunt vel sunt.
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...