HY Associate -> HY Analyst Internal Promote Comp
Based in NYC at a $1T+ shop where fixed income represents around half of the total AUM. Coming out of a HY associate role (around 3yr experience) into an analyst role where I'll be expected to cover around 30-40 names. I'm being offered around $225k all-in, including bonus. Are they trying to squeeze me given the current job market and fill the seat cheap? Or is this the comp that should be expected commensurate with experience and the role? Should I accept the promotion with coverage and leave down the road (1-2yr or sooner) once the job market improves?
This seems low, especially for such a major player. I’d honestly be insulted if this was the offer I got, I was under the impression analyst positions were coveted and TC started at 300k. This feels like a spit in the face, especially living in NYC. (For reference I’m a 2nd FI-Assoc at a major LO based out of Boston).
That said, the job market is tough and there’s probably a lot of room for that comp to grow so I’d stick it out and see how things progress after a year.
What's your advice on landing a LO position in HY/FI? I tried shooting for them during for my SA and it seemed like there were so few spots. Is there a chance to lateral after two years of banking? Incoming FT doing restructuring.
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