PE/GE Pay Raise vs Banking?
Quick explanation to my situation: I’m currently a second year at GS and signed a PE/GE offer back in September during On-Cycle. The expected all-in comp for the buyside role (summer 2022 start and offer range stated explicitly in the offer letter) is ~$240-$270k.
I was catching up with some of my close associates at GS who went A to A, and it turns out they made total all-in comp of ~$400K-$450k as a first year associate (non-stub year, so 1.5 years as associate).
As you can imagine, I’m not sure how I feel about taking a ~$150k paycut at my next job vs staying at GS… Do you think the buyside will raise comp soon for summer 2022 starts? Has anyone successfully had a convo with their headhunters to see if the firm you signed with is willing to renegotiate comp?
lol, predicting next year we'll see a thread posted by some asshole who reneged on their PE offer because Goldman raised comp, asking how they can get their PE offer back if Goldman normalizes their pay next year
You have to take a longer perspective on your career.. the ~100k difference during your associate years is meaningless in broader context of your career trajectory. GE / PE is fundamentally very different work than banking and you have to evaluate which one fits you better. Personally I think the senior investing roles are way more fun and autonomous than their sell-side counterparts. Furthermore while I can't promise it, I think it's likely that buyside lifetime earnings will outstrip banking.
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