MBA Offer - Corp Fin - Need help negotiating offer - what is reasonable?
Hi all,
I am an MBA from a top 20 school with 8+ years of Finance experience. I spent the summer interning in the bay area at a tech company and was fortunate to receive a full time offer.
The offer is generous (see details below), but it seems a little low given my background/years of experience. For instance, at my last job (pre-MBA), I was making $100K in the midwest (which converts to $125K-130K in the bay).
If you were in my shoes - what would you ask for?
My initial thought is to ask for a 130K base salary, given that I offer much more years of experience than a typical MBA and that my last salary was 100K (bay area equivalent of 125K-130k)
Note: These numbers may seem low, but keep in mind that this is a 40 hour a week type place (not an amazon)
Below are the details of the offer:
Base: 120K Bonus: 15K/year Signing Bonus: 25K Stock Options: 15K over 3 years
No familiarity in CF field and pay range, but asking a question to allow others that are familiar to chime in - what is the title associated with your offer?
While you may bring a good number of years of experience, I wonder if it’s a matter of the title you’re being hired into, and the salary band of said title. Usually there’s a range for each title level, so you can negotiate for the upper or max of said band, assuming it’s not already the cap for that level.
Thanks for your reply. I think your thought process is actually right on the money as far as this being the standard title/grade/salary for fresh MBA's. The title for the job is Financial Analyst.
Side note: Honestly, not a great title considering I held a finance manager title, but I am willing to overlook that.
I am wondering how much wiggle room there is for this salary band - i.e. if asking for a bump from $120K to $130K is a non-starter. I do think I have a valid case though given my years of experience and prior background in finance.
If you were previously a Finance Manager, why would you be considered for a Finance Analyst position? Is this even an appropriate post-MBA title to be had? I mean, in IB, the starting point post-MBA is Associate, even if the person is coming in new to IB. So I would assume, post-MBA, you’d at the very least, maintain your title prior to bschool.
Negotiating your title might be the more appropriate discussion to have (given post-mba and prior relevant experience). If you can appropriately negotiate the right title coming in, the pay and salary band for that title would follow suit. The only thing is if this firm is dead set on hiring at this level (because that is what they need right now).
Recommend giving some thought to the local job market. If it’s candidate-driven, the employer may not be as price sensitive. Also, consider what they’re looking for in a candidate. Do they want a warm body or world-class talent?
In my experience, its best to pay people what they ask for... I’d rather spend the extra $10k and have you feel like a winner. It’s probably not a good sign if the hiring manager won’t (or can’t) pull strings for a strong candidate.
Seems a bit low for tech in the Bay Area, especially with only a 12.5% annual bonus. Best thing to do would be to recruit some more, get another offer and use that as leverage, even if you have no intention of taking the other offer. A lot of firms won't budge unless you force their hand.
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