Experienced Assoc/Senior Associate Comp?
I know comps been all over the place in the last two years. I'm an associate about to get the senior associate bump and fielding some lateral opps as well, trying to figure out what to expect/if im currently paid fairly. Any idea what the market looks like now for experienced assoc (2/3 yrs)/new senior associate? Base and bonus would be extremely helpful.
In a hot sector if that matters
Salary
Bonus
Thanks Dick, you're the backbone of the ER community here. Your data didn't have specific mention of the senior associate bump (and I know some places will keep folks as an "associate" for a while so wasn't explicitly clear), have you seen any material comp changes associated with senior title bump?
I have. Like other professions that directly tie to revenue generation, the action is in the bonus. If someone is on track for VP promotion, what I have seen is their bonus starts to go from 30% to a much bigger % over the years before they hit VP title.
The other thing with front office professions within and outside finance, is firms like to create titles to create an illusion of career progression (consulting is most notorious: junior consultant, consultant, engagement manager, principal, senior principal, partner, but only Partner is where the real action is at.).
How much of a base bump I did not ask and my contacts did not care either because there is a ceiling as to how much base can go, especially at banks where HR keeps a pay band for rank titles (ie. Associates can get paid x at max, no matter how many YOE).
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