Lowest acceptable pay for ER?
I worked in IB at a MM firm for about 9 months before being laid off (all but 1 analyst were let go). Been searching for a couple of months and just had an interview and was offered an ER associate position with a boutique. Seems like a good opportunity and I was offered the job but my jaw dropped when I heard the pay figure. $40k! And not only that but expected bonus is 0-50% so best case scenario is 60k. I can't imagine waking up before dawn and grinding out 60-70 hours a week for so little money. But...the job market is terrible. Should I take the job and try to trade up/switch jobs in 6 months or a year? Or is that pay figure a red flag for the firm. They seem to have good deal flow and exposure but I can't get over that number. Anybody know full time ER associates making that little or around that?
Wow, that's definitely on the LOW end... good luck man!
I'm assuming this is NY ? How do they expect you to survive on that amount in NY ? I think anything below $60K base is way too low for the city.
fuck that.
$40k in NYC in ER... damn...
If you can take the job but keep looking I'd do that...
mathematically, 40,000 > 0
But that sucks dude -- thats some low ball offer. I'd still take it though and look for something else within 6 months.
that is exploitation..best of luck!!
So take the job, and keep looking, a bird in the hand ......
A friend of mine - fresh graduate looking for visa sponsorship, very talented, but with super bad luck, just took his first full-time offer at the same salary. Its a legit shop and he is the only associate there. It is a buyer's market. As everyone said: take it and keep looking! Good luck.
Take it but get the hell out of there asap.
Just to give you perspective, summer interns -2nd year university students- at the main banks in London are making $70k pro-rata in ER. (Summer interns don't get bonuses, of course).
Though it is a buyer's market...in response to the OPs most critical question: YES, it sounds like a red flag. I would do some serious research about said firm before making a move.
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