Is this A2A compensation offer fair?
Currently an analyst at one of the larger well recognized MM banks. I was recently offered direct promote to associate-1 after I finish my second year as an analyst. No third year required. Offer details below:
Salary: ~$125k
Option for promotion to Associate-2 within the first year based on performance.
Once promoted to Associate-2: $20k sign-on bonus, 4-week sabbatical.
Does this seem typical? I haven't heard of too many A2A offers from Analyst-2's so thought I would put this out there for some info and also for others in a similar position as it seems this route is becoming more and more common.
That's BS in my opinion. 20k is below street, and your sabbatical should occur at original associate promotion.
My initial reaction was that the bonus seemed very small. I know our Post-MBA Associates get a $50k bonus when they sign plus another $10k for early sign-on. Just wasn't sure if I should be comparing offers to Post-MBA (Associate-2).
I feel like those should really be equivalent - I’d be wary of a firm that is inclined to pay internal promotes significantly less than external hires. Sends a signal that they don’t value developing their own talent.
To be fair that’s pretty much every bank
This sounds fair. Signing is lower than usual though. I imagine once you pass the stub period and move to Associate-2, your base goes to $150K ish. Bonus would generally be 80% to 120% of that depending on performance, group, etc.
Yes, I believe salary jumps to $150k at the next promote.
I'd advise taking it as it is a promo and a bump in pay but seems odd to me.
This firm is hiring MBA's with no banking experience with a 50k sign-on + 150k base, but you have 2 years there, and you're being offered 20k sign-on (in a year) with a 125k base.
A more optimistic way to look at is viewing your "Associate 1" year as your Analyst 3 year, in which case you're getting paid above street, and in a year you'll be a "true" Associate. Would still try to negotiate up the amount of that $20k.
My advise - take it and lateral.
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