Insurance Company AM entry-level compensation
Hey guys,
Does anyone here know the typical 1st year compensation for the AM branch of a major insurance company (+300 bn AUM). It's in Boston.
I know that companies like Fidelity, Putnam, Wellington, give a base of $60-70k, a potential signing bonus and cash bonus, but I know that those are some of the best compensations as far as entry-level AM in my area.
Any help would be greatly appreciated.
Thanks
When I graduated a had an offer from Prudential Capital Group for 55k base + 15k signing + 30k bonus potential first year, which was slight higher than my offer from a long only shop. This was 5-10 years ago so the numbers may have changed a little since then. For various reasons I decided to go with the long only shop though.
FWIW, my impression is that the pay caps out earlier for senior people at an insurer than it would at a traditional AM firm. At the junior level, there should be no difference.
Thanks for the advice, that makes a lot of sense.
There's a group similar to Prudential Capital at where I'm going to interview, but it's far more difficult to get into that group. I'd be in a long-only shop as well, so I wouldn't make as much as that. Hoping for more than 60-65k total compensation
Focus on getting an offer first. Assuming you get that, slways start your negotiations high and let them counteroffer. 60-65k total comp sounds a little low to me but not entirely unreasonable.
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