Why is ER starting salary less than Private Banking, although it seems that ER gives better Exit Opps?
Hi guys,
Two of my friends accepted SA positions with Fidelity ER and JP Morgan PB , therefore they know now that they starting analyst salary would be 38.5k pounds for Fidelity and 50k for JP ( the salary just got increased from 45k to 50k).
So I am a bit confused, how can there be such a difference, although reading this forum I get the impression that ER gives better exit opps for MBA and hedge fund / IB Associate afterwards.
Thanks for your help !
Better exit opps don't necessarily translate into better pay. Often times the opposite is true, as the exit opps and brand name are "priced into" your total comp.
I know FMR in Boston pro-rates on basically minimum wage for interns (~40k USD), but the full-time salary is very different.
@nkhanlegend
This are 100% confirmed analyst salaries for the UK. 50k is equivalent to 75k in the US
@CorpFinHopeful
I understand, still I think its quite strange !
So if it were your choice you would choose Fidelity ER ?
PB and ER are two very different career paths. You need to look beyond pay and exit ops when deciding.
That's entry level buy side ER. Different comp structure and progression than doing sell side ER at a bulge bracket bank.
Typically sell side ER comp is higher than AM comp at entry levels.
This is terribly odd: JPM PB pays their 1st year analysts GBP. 50k, while Barclays Wealth pays them closer to GBP. 30k?
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