Coming up on 1 year at my LMM shop where I am currently 150 base, 75 target bonus. What is the typical increase from ASO 1 to ASO 2, if any? I'm in uncharted waters as I am the only associate, so no other internal data points to go off of.
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Based on the most helpful WSO content, typical pay increases from ASO1 to ASO2 in finance roles, including LMM shops, can vary. However, a common progression is a $25K increase in base salary. For example, many firms move from $150K (ASO1) to $175K (ASO2). Bonuses may also increase, but this depends on firm performance and individual contributions.
Since you're the only associate, it might be worth benchmarking against industry standards or discussing expectations with your manager.
Sources: Q&A: From Sellside Research to Strategy & Finance at Rapid Growth Start-up, Salary progression for F500, Questions about Analyst to Associate promotions, Benchmarking BB/EB Base Increases, Salary Progression in Asset Management
bump
I do co-investing / secondaries at a small shop at the same comp. I just got a 5% cost of living adjustment for ASO2 that’s it
Huh - seems lower than I expected.
I also work 9-6 and no weekends tho
That’s insanely low comp lmao. Would’ve stayed in banking making 300+ brother
I log off around 7, don't work weekends, and have good upward mobility to VP. I think I'm fine. Thanks for the suggestion though.
this sounds fire.
How was your performance, and how replaceable are you?
If you’re now a 2nd Year Associate, I wouldn’t push them over more than an inflation adjustment and try to recalibrate at Senior Associate.
More than that, you should assess if your current shop is really the best place for you long term. Might be better looking to lateral over the next year to a better shop.
Thanks. I do think its a good spot for the long-term. I have good upward visibility and work with decent personalities / people, and am somewhat of an important cog in the machine - although still a cog.
Disregard my title. I have a very similar situation to you, just a few years further in my career. I think between ASO 1 to 2 I got a. $10k base raise and $10k increase in target bonus. I got a bigger bump at the Aso to Sr ASO jump.
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