I’m a later stage associate at an EB (ignore title on here; ~$250k base salary) and want to leave banking, but I haven’t been able to find a position that matches my base.
Is a base salary cut inevitable for IBD workers at this stage?
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Based on the most helpful WSO content, it seems that a base salary cut is often inevitable when transitioning out of investment banking, especially at the later associate or VP level. For example, as a later-stage associate at an EB with a $250k base salary, it's challenging to find roles outside of banking that match or exceed this base. While some corporate roles, private equity, or hedge funds may offer competitive compensation, they often rely more heavily on bonus structures or carry rather than high base salaries.
In corporate roles or other industries, base salaries tend to be lower, but the trade-off often comes in the form of better work-life balance or long-term incentives. If maintaining a high base salary is a priority, you may need to target specific high-paying sectors like private equity, hedge funds, or certain corporate development roles at top-tier firms. However, even in these cases, matching a $250k base salary might be rare unless you're moving into a senior-level position.
Sources: BB Associate Base Salary, Investment Banking MBA Associate Starting Salary - 2019, 2018 Investment Banking Report: 8 Trends in the Industry, https://www.wallstreetoasis.com/forum/investment-banking/elite-boutique-consensus-associate-compensation?customgpt=1, Investment Banking Post-MBA pay
PJT?
& Yes a pay cut is usually inevitable in most cases outside of the other high finance roles on the street.
Going from an EB to any other role will result in a pay cut, but few people regret it
Well said
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