Counter offer
Do banks even counter offer to keep their junior employees or no? Do they just let them go and find a replacement and go on with their day? Like, you are an Analyst getting $95K base and there's an offer to join a same group as an Associate with $140K base. Assuming that you are on promotion track, is it likely that the bank will try to counter their offer?
I would like to note that turnover is not high at all in this group (Securitized products/ABL vs. Advisory etc.)
In securitized products in the US I've seen that most banks will just lean on new joiners/existing analysts/associates more.
Additionally, I've seen countless emp[loyees move from analyst to associate at a different bank, which tells me negotiating won't do anything for you.
Pay at the junior level (both analyst & associate is pretty standard) and same goes with promotions. So say you have an Associate offer somewhere else but aren't up for associate promotion for 6-12 months or something at you're current place, most places aren't going to negotiate. Either you wait to get promoted with the rest of your class or you leave. If anything you would probably just piss people off that you recruited for another job. I've also never really heard of a situation where someone got offered an associate spot somewhere else but was waiting for promotion at their current bank (if anything places will ding you a year and hold you back rather than promote early)
Like everyone said doesn’t really happen..
Like everyone said doesnt really happen..
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