Big 4 deals exit opps? career advice?
Im currently at a big 4 in the deals advisory practice getting $52k which I've grown increasingly dissatisfied with as I see all my friends in other industries (sales, marketing, tech etc.) make more than me, not just the bankers. I really like my team and the work we do, but the money Im getting paid in my HCOL city is making it impossible to save for a rainy day, pay off my student loans, or even do anything fun.
Does anyone have any advice on what my options might be to get paid more? Could I ask the partner of my practice for more money? Do I just wait it out? Are bonuses even a thing in deals? Im not in the corporate finance (internal IB) practice so I'm not holding my breath for that, but I'm just frustrated by this pay. And inflation isnt helping. Im not looking to be a millionaire or anything but I'd like to be able to build up some reserves and not constantly be worried about money, and maybe eventually afford rent in a 1 bedroom for myself whiel saving for a down payment for maybe a MCOL city. I currently live in a basement with 2 other guys, and found out they make wayyy more than me ($110k and $85k) and they're both younger than me. Frankly im happy for them, but I feel like I'm falling behind not only my peers from university but the new grads who are getting massive offers with no experience and I've already been toiling in the financial industry for 2 years in different roles from risk, to back office operations, to now this role which I was very happy to get but have quickly realized im trying very hard, for very little money. I should say I feel like Im getting squeezed by rents. I havent been able to save anything and I dont come from means so what I make is all I have, and my family maybe even hopes I'll have extra to support them someday.
Anyways, this post isnt about jealousy, or comparison being the thief of joy. Im happy. I just want to make more money so Im not so financially burdened as I am. Im the kid of immigrants and took out my student loans to go to university and did my best so its sad for me to feel like despite my best efforts Im very much in debt.
Any advice would be appreciated. I've thought about making a play for IB in Toronto or moving to NYC but I don't know if I have that kind of ambition or what it would take. As it stands I think getting to 70-80k/yr in the near term would make a big difference for me and is my goal. Ideally 6 figures down the road not including inflation. Perhaps I'm just being impatient and eventually things will get better? Any insights or considerations would be great. Thanks in advance.
How are you only making 52k in big 4 deal advisory? I know audit A1s starting this year in Toronto are making 60k.
Can you move to NYC with TN visa?
this cant be right, i startd in big4 audit in 2020 and made 54k in lcol
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