Hi guys long time reader, first time poster. I am after some advice in regards to a new contract I am being offered, but first some quick background.
Worked as an intern at a middle market firm in Equity Research for 9 months on $25/h while still at uni. Helped out all all sorts of low level ER stuff, helped on initiations, sector pieces, presentations, ect.
Graduated early this year but it was pretty tough business conditions and there was no room for another Associate. I was offered a job that was basically back office and if I wanted I could help out with research in my downtime. Decided to give it a go.
After about 4 months of doing this job, working hard and helping out with research along the way I have been offered a full time Associate Analyst position. The position is under two current senior analysts. My expectation is that I will have a heck of a lot of work to do, plus I will still have to do some of the back office things that I am currently doing!.
I like the firm, the people I work with and the position offered is very attractive but I am not quite sure as to what I should push for remuneration wise. The contract I have received in the mail has exactly the same pay rate (think 50k) as what I was on in my former role (bonus is likely to be 0). I am under the impression that due to the promotion, new responsibility and heap of new work I will be undertaking its only fair that I get some sort of pay bump. But then again its also a fantastic opportunity and maybe I should just work hard for a year and then renegotiate?
Any input would be very much appreciated!
is it in a high cost of living area? if so, then it would be tough. 50k in nyc is most likely underpaid. That being said, if you dont have leverage (other offers), then this position which is FO is your best bet. Stick it out for a year and actively look for similar roles in other firms. If you do receive another offer, ask them to match it.
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