Am I underpaid?
I live in a HCOL city (not nyc) and make 80k base with about 20k bonus.
I am a credit analyst for a firm that specializes in an alternative asset. But basically it’s a flavor of private credit. I’ve been at the firm since mid 2024, and prior to joining the firm I had about 1.5 years experience as a commercial credit analyst at a BB. Wanted to ask if I’m underpaid based off of my job duties below.
Portfolio management: analyzing quarterly statements, composing memos highlighting changes or red flags, cash flow modeling.
New underwritings: assisting the underwriting process through providing analysis, modeling, and composing the credit memo that is submitted to IC.
Business development: A recent addition to my role (as of the start of the year) is business development. I will be trying to source potential deals.
This was a pretty high level overview of what I do. I’d love to know if this is similar to the role of a credit analyst at a traditional private credit firm, or if I’m in some Mickey Mouse version of the role. Regardless, I feel like I’m underpaid. If so, what do I do? Should I try to lateral to another firm or bank? Should I apply for associate roles in LevFin or corporate banking? Or is my work experience nowhere near the caliber of experience it will take to compete for one of these roles? Does anyone have any suggestions on how I could possibly ask for a raise?
Sounds like you are underpaid; wasn't your commercial bank job about the same pay?
Would think ~150k all in for your level of experience probably more right. But if your shop is small then it is understandable. There is no standard in this industry all depends on AUM, growth, risk culture.
You tagged this as northeast - if you are in Boston you are definitely underpaid
I consider HCOL to be the following:
NY / BOS / LA / SF / DC
sounds like you have 3 YOE - you can definitely get 115k base +/- 10k in NYC / Boston / Chicago (where most credit / levfin roles are)
You wrote assisting so appropriately paid.
I make about the same in HCOL as 1st year commercial credit analyst at BB.
Would you mind expanding on your transition from into private credit? How does it compare to being a commercial credit analyst?
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