Negotiating Base Salary Pay
I have a full-time M&A return offer from a bulge bracket (BB) where base is marginally below street. However, I am also in the advanced stages of the interview process with an elite boutique (EB) where I know base is at street level. Bonuses are purportedly better too.
I just want to set my expectations about using my full-time offer as leverage for base comp negotiation if I also get the return offer from the EB.
I am thinking about two scenarios in particular. Scenario 1, I get the full-time role at the EB and use this competing offer to ask the BB to raise my salary to street level. Scenario 2, I get the full-time offer from the EB and ask the EB to raise its base, using my offer from the BB as leverage.
I know I am likely being very naive in thinking either of these are possible, but please could I get some input on how realistic either of these scenarios are? i.e. Would an EB or a BB change base comp for one incoming Analyst?
Any experience with London banks would be particularly helpful. Thank you!
Neither will ever change base for one person. Base is fixed for everyone at every level
Lol at negotiating anything in your offer with an IB as a junior.
Stop talking to your friends doing corporate jobs about negotiating offers.
BB base is standard across all the US and all banks (IB)
If you’re in the UK almost all BBs pay 65, and some EBs could do 70 - so is it really worth it over 5k?😭
some EBs pay 80-100base for Analyst 1 in UK
PJT pays 80, that’s about it- but OP said the pay was market not above.
who the fuck is paying anything over 80k pounds in the UK? 100k???
I think you should get MDs from both firms on a conference call and make them have a bidding war over your services.
This is the way!
This hurts my head. Just take the BB offer and be grateful. You're nothing special at entry level - no one will bid for your services.
You should definitely negotiate. The BB would suffer a significant loss of competence if you decided to go with the EB. How much you can raise varies, but if they come back with anything below a 20% raise you should feel offended. Likewise, the EB will feel the fierce competition for top talent and will likely enter a bidding war with themselves once they hear about your BB offer. Just be quiet and let them continue bidding against themselves until you reach a satisfactory salary level. Congrats my man, amazing position to be in.
Lol you wont last long in this field
You won't last long in this field since you are stupid enough to not even understand obvious irony.
Your time in the industry will be short if you continue to think and speak like this, that I guarantee. This is coming from an intern as well.
Thanks for the great insight intern! Not sure how you can’t understand the sarcasm…
Thank god the intern chimed in with his sage advice, otherwise he wouldn’t have lasted in the industry. It’s not too late!!
I love how these interns and analyst are making sarcastic remarks left right and centre. Of course you should try and negotiate. There's nothing that stops you and it won't hurt you. Banks are big organisations with strict budgets and you are one of a large number of employees and this means they have a somewhat narrow spectrum of pay for this position and not the end of the world if you don't take the role - although it is a loss for them. Base isn't fixed - there's no single number and there is a 20% range from low to high so that's up for grabs if you can negotiate it.
In theory its a great idea but you may be doing a big mistake here.
If you want to come back to the company later, you'll be registered as someone who signed the contract and never showed up. You'll be in their registry logically.
Also recruiters are not NPC's they have emotions and may pass the message about you to other people in the field. you'll then have a bad reputation.
If you want to negotiate you might prefer to underlign skills you've acquired like professionalism through The Forage certificate, or a CFA, the fact that you're bilingual/trilingual, or that you're really independent at work if you have experience as a freelance..
The fact anyone at the analyst level in london has an EB offer vs a BB offer and vice versa is just pure luck. Banks haven't headhunted or poached you there's no room to negotiate and plenty of equally talented people ready to take your spot.
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