Can investment banks lowball analyst's salary?
Hi,
I recently applied to one of non-BB investment banks (think of RBC, Macquarie, Nomura) for an analyst program for lateraling.
When I applied, I mistakenly put a low number in "minimum salary expectation" category. ( I thought this was really the minimum salary I was going to take)
However, I just realized that there is a possibility that the employer might lowball my salary.
So here is my question: Do you think it is possible that the employer will lowball my salary compared to other analysts? Given that there is standard salary among IB analysts, would it be possible for my employer to offer much lower salary for me in specific for initially providing a low minimum salary? (For example 85k for other analysts vs 70k for me)
I would greatly appreciate your inputs and insights...
I think if any BB/MM bank is offering $70k base then they are definitely lowballing.
BB/MM bank didn't offer 70k. I put 70k in the expected salary questionnarie that I had to fill out...
I am just afraid that they might just give 70k since this is definitely lower than the street average...
At the junior level you should be getting the same base salary as your peers at your bank - ex: A1 making $85k base. The differentiating factor will be your bonus. Don't think you need to worry about putting your salary expectations, it's just a formality.
For my first job, although it was not banking. I put in 60k, they gave me 75k. so don't worry about that
I think that question is mostly relevant for experienced hires, as most undergrads (outside of people at HYPSM) are expected to take whatever salary they can get if they land a FO finance job at a respected institution.
As a recent Lateral to one of those banks they gave me what was street.
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