Work fewer hours for less $$? First-year analyst at BB
Why doesn't anyone who works too much ask to have their comp lowered in exchange for fewer hours?
I started work as a first-year analyst at an NYC BB (GS/MS/JPM) in 2020. I knew what I was signing up for, but I am not a fan of the hours and work/life balance.
I am interested in asking my manager if I could work fewer hours in exchange for less pay. I am thinking of either asking for all weekends off or capping hours at something like 60 hours/week in return for a pro-rated all-in compensation.
For example:
- Current hours/week: ~85
- Current all-in comp: ~140k
- Future hours/week ~60 (~30% reduction)
- Future all-in comp: ~98k (~30% reduction)
(Hours and comp is made up for the sake of the example - I haven't received my bonus yet)
Is this a crazy idea? Has anyone heard of any precedent for this type of negotiation?
My friends in S&T this year received anywhere from 45 to 65k for their 1.5 year bonuses by working 55 hours/week so if I'm proposing 60 hours/week for 98k all-in I should probably just move...
Should hours and comp be reduced 1:1 or at a different ratio?
I am at a bank that did not increase base salary after the heroism of the GS13.
I haven't been able to find a discussion about this kind of negotiation and am curious about reactions.
Thank you!
I dont think I that conversation will go well especially since you said “I know what I was signing up for”. I would avoid. If you want less hours and less pay, many roles in finance that would take you with your IB experience
The bank doesn't give a shit about the difference in pay...they just want people who produce. If you want to make less money and work less, then simply push back on new staffings and lighten your workload. You'll probably get middle to bottom bucket. So there's your pay cut.
I see 0% chance of this conversation going well
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