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.
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