Lateral Offer - Need advice

Was just made a lateral offer at Stifel with a 100k base and 15k signing bonus for the tech m&a nyc division. Having a ton of anxiety over taking this as I am an Analyst 1 right now at a regional bank with a great culture and legit dream wlb. My questions for all you monkeys, Is this a no brainer or am I just being an idiot? Other thoughts - should I negotiate for Analyst 2 as I am already at 1 years worth of experience? Not sure if 100 is low for nyc right now because it sounds like most an1 are paid 110k. Also - anyone have any idea about bonus there? I heard 20k bonuses were a thing there which sounds ridiculous. Edit: An1 current comp is 55k but I work 40-50 hours a week max with 30k bonus

Comments (10)

Jun 23, 2022 - 12:40pm
high hopes, what's your opinion? Comment below:

Wouldn't move to Stifel tech M&A in this market for below street comp. 
 

stay where you're at and enjoy the WLB if it's a recognizable regional / publicly traded one 

Jun 23, 2022 - 1:07pm
DipDevour, what's your opinion? Comment below:

At an amazing culture regional firm for m&a right now. Definitely paid below market but would need a pretty good offer to leave.

At the very least - try to get an2. You don't want to start over a 2-3 year stint unless P/E is your goal. Even then you're shooting for an mm-lmm at that firm

  • Associate 3 in IB-M&A
Jun 23, 2022 - 1:39pm

If your TC is only $85k including bonus and hours are that low I'd assume you're at a very small boutique

I'd try and negotiate for an2 since you already have banking experience. But you will be at the bottom of the A2 class (especially when you're coming from a tiny bank; everyone else knows the new bank's way of doing things + knows the team more) and would potentially be the top A1 with all of that experience, so keep that in mind. Also if you want to do PE, better off doing A1 for more recruiting time/reach.

Jun 23, 2022 - 1:39pm
BreadCo, what's your opinion? Comment below:

If you value your WLB a lot, the no brainer is to just stay the course at your current bank.

If you are trying to take the job purely for the pay increase, don't take it

If you think you have more interest in NYC/Tech/Stifel or are looking for a change in your life, then you have something to think about.

You are in a "bird in the hand or 2 in the bush" situation. This is just a personal risk that you have to take.

Me personally, I like to work because 1) I just do, 2) You get more repetitions in work. I would take the NYC job, and be ready to let go of WLB

Most Helpful
Jun 23, 2022 - 2:58pm
TimesNewMoney, what's your opinion? Comment below:

I actually have a buddy that just joined that group. It doesn't sound like the hours are that brutal. 

FWIW your base salary is ridiculously low, even for a regional boutique that works you 40-50 hours a week. I left a bank like that and Analyst salaries were still $80-$90K with bonuses of ~50%.

I would try to negotiate up to an Analyst 2 role, but would take the offer even if you did have to get set a year back. Your 20s are all about best positioning yourself to bring in the real dough once you hit your 30s or even 40s. Stifel Tech M&A positions you a lot better than your current role does, for that purpose. In 5-10 years when you're a VP at a namebrand bank / PE shop making >$500K a year, you aren't going to be sweating the extra 12 month period you spent as an Analyst 1 making $100K versus an Analyst 2 making $110K 

Jun 24, 2022 - 5:36pm
bzfracas, what's your opinion? Comment below:

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