Current 1st year analyst looking to exit soon after ~7-8 month of being on the job at a BB. What total comp should I expect from roles that would hire me with that limited experience? Have been applying to corp dev / strategy positions and they have asked what comp I am targeting, but frankly unsure where to start. Appreciate any thoughts.
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Intern title might disqualify any validity here but I spend quite a bit of time on this site. Seems that 100-115K all in is the consensus
I would say 75-95?
Not sure why the ms but I was indicating 75-95 base.
Think that is realistic but could be off base. I've been looking for startup corp dev and that is the voiceover I've heard.
I actually agree. I wouldn't EXPECT anything over 80k. Its crazy what a bunch of 22 yr old's can think they are worth right out of college. Especially in a highly competitive job market and rough economy.
You could probably negotiate but remember, as an Analyst 1 you still have minimal experience. But back to the job market you must have some strong leverage to negotiate otherwise why should they hire someone expensive with 2 yrs of experience?
It’s hard to say. I would be probably asking for something like 100+20, which is a discount to what you would get in IB, but likely towards the higher end of what is feasible depending on where you’re looking. I think it’s the safest bet. You can’t ask for what you make now really, but you still want to ask for a little more than what you actually want or else you’re anchoring them too low. You can also say what your current expected annual comp is (base+bonus) and say that you know these roles tend to pay less overall, but are looking to have less of your annual comp tied up in bonus. I try to avoid giving numbers as much as possible, so by doing this, you can essentially ask for a higher base than IB while accepting/understanding bonuses will be materially less. At the end of the day, not a big deal what you tell them unless you’re asking for way too much
I'm new to negotiation lol. Do you think if I already said $85,000 for base, I kinda set myself up where I can't go back and ask for higher?
Probably not. I don’t know anyone that left IB for start up or Corp dev that got a bump in base (unless it was after 2 year analyst program)
bump
How big is the salary range cor a corpo dev/strategy role from the hiring manager’s perspective? Like do they have rules of like an 80k minimum but no more than 95k? How does that work from the company’s side?
I think this depends on the company... would say at the analyst level probably 10-15k. For a Senior Financial Analyst (associate) level would be 30-60k. For a Manager / Director (VP) level would probably be 50-100k. That’s all in comp based on my experience in Corp Strat at a F250.
1st year in a similar position. Questions for OP, have you just been cold applying to roles via Linkedin and websites? How soon are these corp strategy roles that you are applying to getting back to you? How have you had time to prep with banking.
Currently a 1st yr at BB working 90-100 hr weeks on avg and literally just 1) don't have the time to network and prep for interviews and 2) whenever I have time off I can only think about getting sleep. Do you guys advise quitting with nothing lined up and just using that time off to properly network and prep for roles in corp strategy / ops?
Have been mostly searching and applying via linkedin. I have barely heard back except for a couple out of the many applications I have sent out. Actually don't even know how I am going to interview as I have literally no time to prep. Also wondering if it might be better to just quit and focus on recruiting / job search...
If you don’t mind me asking - unless you’ve have previous internship IB/PE experience what skill set would you have so early on in your analyst stint to even leverage? It’s not like most op roles have you sitting at valuation models all day. I know you said you could likely talk strategy with the CEO on an ad-hoc basis but not sure how you’d be useful in any senior type role so early on. Please provide color where my ignorance necessitates
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