Im 23, working at a top 15 repe firm (based on capital raised) as an acquisition and am analyst fresh out of an MSF. Since the senior associate on my team left for greener pastures, I am currently running all Florida acquisitions and asset management (along with my director). My responsibilities have 5x in the past 4 months, and I’m stretched pretty thin. I am not complaining bc it’s great experience, awesome exposure to the C-suite, and I have big influence on our investment process, but I still feel underpaid.
I’m currently making 75k base, 20% bonus after an end of year raise. I realize this is way below market, but how bad? At what point should I negotiate more comp, and good strategies for this? Is negotiating a fools errand since I’ve been at the firm for less than a year? Should I just grind it out for another year, than plan an exit? I understand re is a marathon, and pay isn’t great starting out, but I feel like my responsibilities warrant more comp. Thoughts?
Renegotiate that salary asap before it's too late. You can make more than double that in NYC with the experience you've described.
If they don't accommodate leave. I would phrase the conversation as something like I'm not looking to leave, but as I'm sure you're aware there is a dearth of qualified analysts and I'm getting calls frequently from recruiters, I know I'm worth x to y in so and so city and we're not even in the range as it stands. Then just let them go from there will show you if your boss actually values you. If not time to head out.
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