Guys,
I was negoitating salary recently. The employer got back to me with a higher number. I was not still happy. I gave them the number i wanted and it was like 10% higher. I really like the firm and bonuses are going to be good and its a boutique.
After submitting my numbers that i wanted to them via email...
I get a call from one of the Big shots Senior MD and very well known in the industry...
he said that i was told u wanted a higher pacakge.. and o think we have been quite generous. i really want u on the team and lets start working. we pay everything via bonuses he said. he also said that i would apprecaite if u take this job on the offer we gave u (10-15% what i wanted)
I got lil neverous cuz he far up in the rank and i said yes.. .. verbally but will sign th contract in the coming days..
DAMN.. now im getting greed again.. should i negotiate more to my numbers..? i have already bumbed them up 40%.. cuz they were low balling me..
Should I negoitate once more.. before i sign.. or would i be risking it?
i really like the firm...
please help
Sounds like you've squeezed a good bit out of it already. Quit being greedy and earn yourself a great bonus through stellar work.
Having said that, it would also depend on what position this is for and what leverage you have left.
So give us some more info ;D
1st negoitation i pulled 40% of u them ( the propsed the number and i played the slient game)
2nd negotiation i wanted 10-15 % more ( i came up with the number)
Senior MD calls and gave me a speech he wants me an bonus will be good!
got neverous said yes... now regretting it ... it was the HR i was negoitating first.
Would it be a bad to ask once more... if i do ask whats approach ? Please help
how much is the offer in total now as it is on the table? what bonus can you expect?
100-200% bonus but i doubt that their annual reports have some truth to it.. but again its difficult to tell.. division wise from it
What level is this for? Do 1st year analysts have any room to negotiate?
Are you actually serious? Honestly, what is another 10% in the long run? I mean, you are talking about what, maybe $500 or $600 bucks a month? Is getting an extra few hundred dollars a month worth risking not getting a job?
People are getting laid off left and right and you are asking for more money? You are definitely getting greedy. The whole concept to bonus based compensation is to motivate people to great work so if you are confident with your skills then rest assured that you will more then make up for that 10%.
If I was the MD and I somehow found out that you tried to renegotiate after I spoke to and you agreed to what we offered...I would be pissed. I don't know if there would ever be any sort of repercussions but I would think that negative consequences would occur far before any positive, as I just don't see how getting the extra money would prove anything. To me it just says you are greedy and somehow think you are special.
Ultimately, you know what you are worth, if you are worth more then hold out, but be prepared to start looking elsewhere because if you aren't the cat's pajamas and you are asking for more, its real easy for the firm to just forget about you and look to the next guy that will probably accept less money then your original offer. If you like the firm just suck it up and take what they offered.
Yeah, didn't JPMorgan just lay off 1/3 of its analysts? If I were you, I'd be thanking God to even have a job offer. You are definitely pushing your luck. In fact, if I were the hiring manager, I'd have already withdrawn my original offer and hired the next guy.
You've already pushed up 40%. You think that you're a strong enough recruit to negotiate...
If you're such a quality player, you should have a very strong grasp of networking and compensation systems in finance. Firstly, bonuses are everything, especially on a powerful MD's word. If you're willing to sacrifice your integrity, a powerful contact, and possibly even a job for another 10% increase in first-year base compensation, be our guest. You're simply helping the chances of others by bumping yourself down a few notches in capitalistic Darwinism.
I have to totally agree with Virginia Tech 4ever!
You are in the fortunate position to be offered a job, you have already negotiated a slightly higher salary than the initial offer - Thank God, Accept and sign!!!!
If you were to renegotiate then I believe that the MD would 1) find out, 2) be pissed, 2) think that you are a cock for verbally accepting to the contract on the phone 4) then tell you to hit the road and stop wasting their time.
I hope you make the sensible decision.
Plussy
A promise doesn't mean shit. People always get promised great bonuses and get fucked.
Seriously, learn the english language and how to spell check before you keep 'negotiating.' You're being low-balled? WTF do you know, you're not even working yet. Keep pushing for more and see where it gets you.
I don't know where your sense of self-entitlement comes from but I suggest you lose it quick because you are going to be someone's bitch for the next 2-3 years.
asking another $1100 per months isnt right if i have already accepted over the phone.... and yes heis a BIG SHOT MD... and very well know around the world in the industry...
I think i just should shut up and take it... and prove myself in the coming months...
cuz hes definalty would think im greedy and forgetting the other benefits ( bounus, networking, prestige) i could be getting
the firm is small but cuz of the ppl they hired are reconized...
I think there is no upside at this point. Best case, they give you the extra 10% and take it ut (and then some, possibly) of your bonus. Of course, they won't tell you what your bonus would have been and why it's lower, but you will know and they will know.
Guys,
I like the firm and ur right over 10-15% .. is it worth it?
I still have no signed but will... they are calling me left and right and are eager to have me...
but if i am in lil demand y not push a lil so i sign... btw this is no BB ... small boutique and team of 8 ppl. will be doing avisory and research for them..
attention to detail, huh? i guess you included that as a weakness in your interviews
Ask them to double your salary.
with nystateofmind. Ask them to double your salary and tell them to give you a guarantee in writing for your bonus.
double or nothing! don't back down now or they'll think you're a pussy. you've earned it man!
I'm pretty sure you're full of shit. Do you really expect us to believe that a boutique with 8 people is giving you this much lead-way with starting salary negotiations?
Further, your writing abilities are at the same level as a 4th grader, making it difficult to trust your claims that you were able to persuade this bank to increase your starting salary by 40%.
If by some stretch of the imagination this is true - quit being an idiot and sign.
It is true... and is not my first job outta college.. i was not in finance before i was in consulting for 1 year( outta college)...
there are firms who are paying that well and even more... u should see the firms paying in London and HK and even INDIA ...
Searching: if you want legit advice and our opinions of your 'worth' and what you're being paid, you need to tell us the specific $$$ of your base salary. Then, as a forum and online community, we can offer you better advice.
While I agree that you should feel very lucky you have a job offer, you need to disclose a little more information to get the answers you are seeking.
Good luck.
This is a sad joke with miserable grammar. I'm displeased with the amount of brain strain I need to decipher wods witout cononants.
LOL
Not to nit-pick... IBDilo, the phrase is "leeway", not lead-way.
Funny enough, I was hesitant to use that word when writing my response - it's one of phrases that I've used in conversation, but never actually wrote out. Thanks for the comment though - I don't consider that nit-picking at all, it's a mistake plain and simple.
"asking another $1100 per months isnt right if i have already accepted over the phone" -OP
So you want your salary to be increased by 10% if 10% = $1100 they are ready to pay you $11000. You said they had "low balled" you at first, and you increased your salary by 40%; this means that they originally offered you $7857.
You claim that: "there are firms who are paying that well and even more... u should see the firms paying in London and HK and even INDIA ..." -OP
If I was paid around 3400 pounds in London I would have to live in a box and eat rubbish while waiting for my amazing bonus.
Your English is horrible, you are a joke. Go back to your high school books; and it would be nice if bull shit threads like those got deleted from the forum. THere is a certain level of English mistakes that are expected on a public forum, even from people whose English is perfect, but this shit makes me want to puke. For all the people in this thread giving him actual advices, grow a brain and realize that this is complete bull shit.
Haaaaaaaaaaaaaaaa, this rent felt good. I can go back to do some more bull shit studying now.
Remember, you will always be a salesman, no matter how fancy your title is. - My ex girlfriend
thanks for the advice... just signed it... and guess what i did get the 10%! I was honestly scared but had a face to face conversation... and thats it!
Hopefully english will improve once i start doing the work..
true i was taking a risk by pushing my luck.. but it worked out fine!
Thank u ...
PS. if any one is in IBANKING (2-3 year analyst) and PE associate. please PM me.. got some compensation questions for the FUND im in..
This guy can't spell and I am not talking about typos...i.e. definitely. just take the offer
Best, SoulSearching
where did you go for undergrad searching?
hopefully the interviews didn't require a typing test
how can a guy that types like this clown work on the sell-side?
and seriously, these are more than typing or spelling errors... you would probably be able to find these in speech.
unless this guy has some amazing language skills, i would call him a....
scam
Why are you so concerned about that 10% raise? You are too focused on a petty little thing...you will not be successful with this attitude
Best, SoulSearching
You are correct. My attitude was completely wrong for 10 percent. But at the end they pushed the 10% up. Next time I wont try my luck that hard. Thanks for the real advice ...
Guy,
Im a lil careless at the forum regarding typing... so please dont use this to estimate me. I can only log in the forum for a few seconds while im working. So i type real fast and bad.
Again, thanks for the input.
You know if you use spell check, Mr. Gate's magic fairy will fix most of those mistakes... if you intend on getting some of those bonuses I would get acquainted with spell check and maybe an English teacher.
Also, the reason the Senior MD called you was most likely because the HR person that you were trying to nickel and dime reached his salary limit that could be offered so he went to a senior manager for further approval. Plus if you got them up 40% you should be happy, I just took a job where I got low balled and they refuse to negotiate.
The fact that you are bitching about an extra 10% with the market the way it is, is pathetic. Furthermore, if you fail to learn to speak and type the English language, you can almost guarantee that bonus won't be as promised. Did your mom type your resume?
Can those of us on the board who have jobs (and I refer only to those with jobs that are not imaginary like the OP's) collectively agree that no i-bank, regardless of the size or prestige (or lack thereof) would agressively pursue a kid one year out of undergrad to such an extent. A 50% salary increase? This kid is a joke.
His last post before he 'had a face to face' and signed was at ~5PM Saturday, he met with them face to face, charmed his 2nd year analyst base upto 145k at noon Sunday on Memorial Day Weekend... he must be a real badass.
BTW... this post got like 40 responses, the real negotiating questions got 7... any advice for those who aren't getting phone calls and personal meetings on Memorial Day Weekend from Bruce Wasserstein to agree on an analyst base of 145k?
//www.wallstreetoasis.com/forums/interviewing-firm-asks-what-your-current…
You are also a fucking idiot for posting on the internet this shit. They could easily find out about this post and read it. Not to mention you are also an idiot for seeking advice from a forum with a bunch of college kids on it.
Guys, seriously i think some of u got lil carried away with the eng language thing... u know spelling and grammar is an issue.. and so many ppl have said that on the forum so y complain again.?
if u have a value added thing to say regarding the job offer say so... again thanks to the real bankers on the forum.. and yes market is bad. but there are gems out there too u know..
Searching - seriously just stop. You're an idiot and the fact that you refer to yourself as a "gem," only strengthens my belief that you're a pathological bullshitter who just enjoys the attention. If I could, I'd remove you from the site and save everyone else from having to read your nonsense. By the way, only those...with no grasp of the English language...think it's acceptable to use ellipses...to separate their thoughts.
just sign it and get a high bonus through working hard
Quit feeding the troll!
English: the OP is a master of it
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