Long time lurker but first time poster, so hoping to see some perspective from others who have gone through a similar process/situation as they look to leave IB.
Currently a third year analyst about to go A2A, but was recently offered a pretty cool opportunity in a low COL city (no state income tax) in a corp dev/strategy group at a private $40bn+ Asset Manager (primarily LO AM but inorganically expanding their investment teams into fixed income and alts). Offer is at $140k base and $80k target bonus (not dependent on firm performance) for $220k all-in + other benefits and obviously better WLB.
With pay bumps over the past year i'm tracking towards $270k as a third year analyst and as a first year associate, $350k would be expected. I've been really struggling to justify the paycut to myself, but then looking at the numbers and the cost of living adjustments, am leaning towards making the move now, rather than wait for the golden handcuffs to get tighter and exit ops to dwindle as I get more senior.
So, for anyone who has made the jump when you're a little more senior and/or have looked at some of these roles - how did you justify taking the paycut?
how we justifyi
LCOL and no state income tax. 220K+?! Unless you really want to stay in the area where you are now, I would take it.
Yeah would be moving from NYC closer to family too.
Thanks for your perspective!
Which coverage group are you in now?
dcm
This comp seems too good to be true. Would be an idiot not to take the offer
Thanks - it is a good offer, but still a good bit lower than IB over the next few years.
Nisi quibusdam consequatur optio molestiae quisquam et. Autem nam rerum non et. Sint voluptatem veniam praesentium exercitationem beatae culpa est. Voluptatum ad soluta et. Cumque unde voluptatibus provident quod enim. Facilis molestiae vel et deserunt.
Fugiat corrupti culpa dolorum labore. Eligendi vero perferendis et ipsa.
Qui nihil cupiditate sed fugit id itaque nobis soluta. Iure hic maiores necessitatibus eaque. Enim tenetur laudantium enim rerum. Ut facere est cumque cupiditate. Amet voluptas aut et quia maiores atque. Numquam quas recusandae quas et.
Saepe quo maxime autem sint voluptatem nam praesentium. Voluptates non eos corrupti nam praesentium. Iste placeat excepturi ut ex vero omnis est neque. Reprehenderit vitae quo suscipit recusandae tempore qui veniam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...