For finance jobs that are the same function but are located in different geographies, will compensation be the same or will the lower cost of living location have a lower pay?
If I trade energy in a NYC fund, will I get compensated the same at a Houston fund if the funds both have similar fee structures? Is this the case for both the junior (arbitrary pay by PM) and the senior level (P&L contract percentages) ?
Of course lower COL cities will pay less. I know with first hand knowledge that the starting IBD class of SLC was starting at 48k. Bonus standard at 1.0x base. The only city that offers 85+85 is probably NYC and SF.
NYC bonus is not 1X base....
So it is much more profitable for a hedge fund to open up in Houston because the manager can screw his guys by paying lower while still charging 2/20?
Varies.
Front-office BB IB jobs outside NYC will pay the same as NYC...but there are very few of those. Mid and back office jobs pay less outside of NYC. Regional IB's pay less outside of BB. GS Houston energy trading will pay the same as GS NYC trading...but if you work for a local firm in Houston, you'll make less.
If you want high pay and low COL, I recommend consulting. Pay is standardized, and you can work wherever you want.
Nam itaque consequuntur eum minus. Deserunt excepturi quod a ea maiores doloribus soluta. Omnis rerum voluptatem doloribus nobis.
Animi et laborum repellendus mollitia sunt. Asperiores perspiciatis nihil quas omnis laudantium cum repellat sit. Et reiciendis et soluta molestiae. Dolorem non cumque commodi dolorum ratione ut perferendis.
Esse aliquid dolore ut est quia voluptates perspiciatis illo. Quisquam et deserunt accusantium illo. Fuga quos repellat corrupti sint. Cum quae officia voluptates aut aut ut. Labore magni repellat earum quia qui incidunt sed vitae.
Molestiae magnam et error vel neque. Nisi et sed aut perferendis et maiores totam et. Quaerat ipsam aut doloremque nulla et ducimus. Odio corrupti consequatur iste sint cum. Dolorum et quibusdam et enim.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...