Hey guys,
I have a job offer for IB of 60,000 USD, with a bonus of somewhere around 50% at best, but it is possible to be lower. I don't believe that the hours are quite 100 a week, but they are still intense. Should I accept?
I can most likely climb the rankings rather quickly and get solid Wall St. experience. Thoughts?
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Are you sure this is Wall St. investment banking? What's size of the firm and deal flow? Need to do your due diligence because I personally don't know of any "Wall St. investment banking" role that pays $60k base. 50% bonus is a hit or miss due to current deal flow too.
Yes it is. This is just what I was told from another analyst. Kinda struggling finding another job like IB so I dont know what to do.
Ngl sounds a lil sketch I mean my bro got 75k base in 2017 as a new analyst so 60k in 2023 would be crazy. Pm me if you want and i can look up the firm to check it out
I will. I just have to wait per rules of WSO.
That’s outrageous. I made way more in early 2000s - on commercial banking as an analyst. Unheard of and super below market. Sounds like a super sketchy offer.
Small firm tho, not MM nor BB
Commercial banking in early 2000s? You were maxing at 45k buddy
If the year is 2003 then yes this is a great offer
Lol yeah
This is 2023 baby!
Only groups that pay that low are setter capital and Brant Street in Toronto. They pay analysts between 45-60k cad as base.
If this is a T1 city in US you’re getting straight up scammed
NYC
Just accept and renege when u get a better offer
No, if the investment bank is paying this little for analysts it does not sound like a credible firm. This is 50% below market. You'd be better in the long run in continuing to search or expand the breadth of jobs you're applying for.
I’m still an undergrad, about to get my SIE with upcoming on 1 year of intern experience at a bank in NYC. Idrk where to look, feel stuck.
60k in NYC is obscene. That said, is this your only offer? Are you a graduating senior from a random school (and not competitive for a better IB job) or currently in a role very far away from banking?
It's not all about the money at this level and you do sometimes have to just start lower and work your way up, but this is a red flag... be careful that this is a legitimate shop / the experience would be worth it. Has anyone from this shop ever gone on to a bigger bank?
More like the big players came here toward the latter half of their career
I went to a non target and got a tier 1 city small boutique that’s above street pay. I pondered some shitty offers for sub 100 base and smaller bonus but kept going. Sounds brutal, wouldn’t do it but if it’s your only option may be worth it.
Don’t take it
Pretty sure I know the firm, do they do healthcare deals?
Pretty sure I’m thinking of the same firm …
Is it Roth?
No they don’t
What healthcare shop pays 60k?
This isn’t healthcare, I dont know
Is this in UK?
No, NYC
Feel free to PM me the name of the firm and I can give you my thoughts, but my preliminary thought is to def take it. Do you go to a non-target and don’t have any other opps? Then you should definitely take it - relevant experience is relevant and getting that on your resume, getting experience, understanding processes etc is all things you can speak to in interviews and parlay to your next gig (you should be trying to recruit pretty quickly)
I am non target, only offer at the moment but haven’t given much effort since I wanted to get my SIE first. Would SIE help me get to a better firm?
Would the firm you’re going to not make you take it as an analyst as well as the 63 and 79? I suppose it wouldn’t hurt but that would not really be the difference maker IMO
This sounds shady. Something is wrong with this “Wall Street investment bank”. What’s the name of the bank
It isn’t, I want to keep the firm confidential because I don’t want it to possibly get back to them
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