Two Summer Offers - Middle Office paying more...
Hi Monkeys,
I have two offers from NYC bulge bracket banks (think MS, GS, JPMorgan). One is in middle office while the other is in a non-IBD position (front office). Obviously I prefer the latter option, for its opportunities, learning experience, etc, but the middle office position is paying a lot more. The MO salary is more accurately reflective of what a FT analyst would get, while the FO offer feels like it's low balling me.
This difference is making it really hard to accept the FO offer, so how should I go about trying to negotiate a slight increase if not a match in compensation? Should I be making the point that one offer is "middle-office" yet it's paying me more?
Any help or experience doing this would be helpful. I could really use the extra money (school debt) but I don't want to come across sounding like an entitled snob.
Thanks!
It would help if you tell us what division the non-IBD FO job is in.
Asset Management
Asset Management
Which do you want to do FT? Take that offer. Do not worry about the money at this point
I know that's the smart answer, but I'm up to my neck in debt and I almost feel like I'm being "ripped off". I honestly don't mean to sound like a snob.
Understandable, and I would be doing the same back when I was in your position. Is your end goal IBD? If so follow the above advice
Honestly, neither is going to be significantly better for IBD than the other. Even though AM is a front office function, the skill set is so inherently different than IBD that it isn't viewed much differently than a Middle Office position like Risk.
I would take the higher paying gig and just leverage internal contacts to try to network throughout the duration of the summer.
First of all congrats on the offers.
If the end game is IBD for you, I would take a look at the firms and see if the firm is friendly with internal mobility.
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