Is there room to negotiate salary as an analyst being promoted to associate?
Would appreciate any thoughts on this topic. I’ve never heard of any examples, but I feel like we’re pretty valuable
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Assuming you’re at a reputable MM/BB/EB shop, no. It’s largely standardized. Different ball game if you’re at some regional 5 person boutique or something.
No. But negotiate the thing you can (maybe) negotiate: some time off. 15+ years ago most (or at least many) BB banks gave A2A promotes a lengthy summer vacation. The logic behind that, which is still true, is that unlike the MBA hires, the analysts had just completed an exhausting two year sprint, it was in the individual banker's and the firm's best interests to have the A2A refreshed and ready to go in late summer/early fall, summer is a little quieter in terms of pitch/deal activity, and - these last two might be the most important - the bank had spent zero dollars recruiting the A2A, and the A2As as a category carry the lowest risk, among the new associates, of being duds.
In my group the analysts are able to negotiate a retention/guaranteed bonus plus some time off between the analyst and associate stints - the bonus part is pretty unique to the group tho as I haven’t seen other groups do it. This is a top industry group.
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