So, I was recently offered an associate position in London for a major American BB. I am trying to gauge how strong the offer is, and would really appreciate some up-to-date advice.
I am currently in the US, and have a competing offer from a major strategy consulting firm, but I know the compensation is quite different between geographies, and would love to get some legitimate data on what front office staff make as 1st year associates in London.
I am not hiring into an associate program, but am instead being hired to fill a particular role (for which I have the ideal background). The role is within S&T as a desk strategist, though I would also deal with debt and equity capital markets.
What do you think a reasonable base in GBP is? What about sign-on? And relocation? I was thinking 65k/25k/8k, but don't know exactly where the market is right now, so I would appreciate any inputs from people who know the data points RIGHT NOW in the market.
between 60-65k pounds is reasonable for base, seeing that analysts are now making 42-46k. relocation and signing bonus will be comparable to US, adjusted for exchange rates.
Is base pay in London usually a bit less than in NYC? 65k GBP is a bit lower than the 100k USD that associates are getting here, but 60k GBP seems decently off the mark. Especially when everyone makes London sound to be the more expensive city.
I'm looking at trying to get to London to sit on an EM desk. NYC isn't a real fit for it. I'm not a LatAm guy. I'm a German speaker (non-native) with a regional specialization in Central and Eastern Europe. Everyone says London's the place to go for that.
I'd say you're looking at 60k/15k/5k-70k/30k/10k (in GBP). It may seem like a wide spread, but it's really going to depend heavily on how badly they actually need someone for the role. If you're the perfect fit, and they are in desperate need of help, you're going to be pushing the top end of that scale. If you are a weak fit, and they need to train you a lot, you're going to be nearer the bottom.
Also, I'm not sure how sign-ons work for juniors coming in as lateral hires. I assume they exist, but don't know if they match the ones given to MBAs.
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