Salary comp for FI investment analyst position in an insurance company
I am currently negotiating the salary for a fixed income investment analyst role (Private debt mainly) for a large Life insurance company in London, UK.
The job description said that it was between 40k - 50k but I was told that mine would be around 45k and lower. This would be my first FT role in the industry so I have no experience on salary negotiation.
Do you think this is a good estimate of the average comp? Does anyone have any insights to share? Thank you for your response
Bump
in line with market rate right now
Thank you for the reply. I went through Glassdoor and found that the avg is around 47k - 50k. These were old estimates, hence I feel like being undercut.
Glassdoor is generally pretty poor in accuracy... but yes, 45k is still market but would feel low now that all the banks have raised from 50k to 70k for FO base... lots of other "high finance" firms have not. I interviewed w a bunch of REPE/RE private debt firms (including few at American insurers) and most of their base are still 45-55k in London
I wouldn't worry about the first yr comp too much, when it should quadruple in 5 yrs based on your career trajectory
Pick the role that has the best scaling / prestige (i.e. best exit opps)
This is what I have been thinking too because of the FO base. I am still waiting on the final decision. It is looking positive but the main worry about the role is the Solvency II regulation of being able to invest only in IG credit. Do you think that would be a problem if I would like to venture into HY/Distressed space? I did an internship in a Distressed credit HF and really liked the work. Thank you for the information.
If you’re comparing your pay to IB, everything is going to appear low, most jobs can’t match the pay schedule of IB and it’s pretty much outstripping PE pay right now. From what I know from talking to juniors, that pay is pretty much street so I would be happy with it, also bargaining at a junior level doesn’t really happen because every firm pretty much pays all juniors the same regardless of their “skills”. However, if you feel like you can get a better elsewhere then you could always re-recruit.
Understood. I was speaking with a friend who's going to start working in IB S&T and got confused for a second. After looking through Glassdoor, The estimate turned out to be correct. This is reassuring to hear. Thank you for the reply.
I have received an offer of an m&a team in a big insurance PE backed company (like athene) in London too.
what do you think about this role? what will be my exit opps? can I place into FIG in a BB/EB or will be difficult... or maybe even PE FIG focused.
Love to hear you thougths
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