WSO - need your help. I’m interviewing a Sr analyst who works at a MM firm like Baird/Stifel/Truist. He’s been covering an industrial sector as a Sr for 3-4 years so still relatively junior and not well established.
He quoted comp expectations of $800k and that seems totally out of range. Wouldn’t $350k-$500k be more realistic? I know people exaggerate for negotiating purposes but his quote is suspicious. He was going to get the offer after a grueling interview process but not so sure now. This is for a buyside seat with $400k entry target, especially for someone without direct investing experience.
Based on the most helpful WSO content, your instincts seem correct. For a Senior Analyst at a middle-market (MM) sell-side firm like Baird, Stifel, or Truist, compensation expectations in the $800k range are highly inflated, especially for someone with only 3-4 years of experience and not being well-established.
A more realistic range for total compensation (base + bonus) would likely fall between $350k-$500k, depending on the firm, performance, and market conditions. This aligns with typical MM sell-side comp structures, where Senior Analysts generally don't command figures close to $800k unless they are exceptionally well-established or in a highly lucrative niche.
For a buyside seat with a $400k entry target, his expectations seem even more out of line, particularly given the lack of direct investing experience. It’s not uncommon for candidates to inflate their numbers during negotiations, but this discrepancy should raise some red flags.
Sources: Q&A: Equity Analyst at a Sovereign Wealth/Pension Fund, Breaking into buy-side equity research - my experience, Life in Acquisitions (Analyst/Associate), HF Distribution of outcomes - by mid-30s, Q&A: HY/Distressed Analyst at NYC based Mid-Sized Credit Hedge Fund
Buy side I have no idea. Im an MM associate so I dont really “know”, but my analyst has sort of hinted at $400-$500k and that its been stagnant for years now
This will depend on the sector. Some MM sr analysts in hot sectors, like biotech, or even on top-performing teams elsewhere in healthcare or tech, can make $800k/yr. However, if they’re on a more laid-back/low achieving team, $350-500k sounds more accurate.
Zero chance somebody at baird / Stifel / Truist is clearing $400k with 3-4 years of light coverage
$800k is comical and I would not offer this candidate based on them probably being a headcase.
Baird might pay better than Stifel / Truist for industrials - but they all pay poor for ER teams across the board.
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