Hello All,
I'm currently a financial analyst with a top tech firm.
Below are some details about my role:
Day-to-day: typical FP&A role with 50-70 hours a week (70 - during planning and close)
2nd Year analyst Comp: $78K with $5.5K bonus
Benefits: Typical F500 benefits
Note: I will be receiving a promotion in April, details have not been discussed as I have not received my formal review. I'm expecting a pay bump of anywhere between 7% - 15%, (the bonus will also increase)
Recently, I have been offered a position to work for PGIM-RELS as an Associate Analyst of Surveillance in their Asset Management division. This is on the loan servicing side, so IMO not the ideal opportunity. However, I do think this could be a great spot to break into CRE with a fantastic employer. I also think I could transition into another position in the future and apply my MSF degree for the long term here. Below are the details to my offer:
Comp: $75K
Sign-on bonus: $5K
Bonus: 0-18%
Overtime pay: Yes
Benefits: Typical F500 benefits
Day-to-day: not sure but from my research 40-50
Note: I was told that I will most likely promote into an asset management role within 1.5-3 years by the Directors, VP, and HR of the company. And can expect pay to be at low-mid 80's with a 25% bonus.
Any advice on which career path would be much appreciated. I find that both jobs are interesting, but I ultimately don't want to find myself pigeon-holed if I take this PGIM Role. My long-term goal is to be in CRE or in an investment setting, but I'm not opposed to a long-term career in corporate finance. Both of my degrees are from non-target state schools.
Thanks!
Where is the job located?
Do you foresee yourself staying in whatever city/state for the long term?
PGIM is a great company and RELS is the internal servicer for their giant book (they don't outsource like the majority of lenders).
A lot of people spend their whole careers in servicing. You can still make decent money and depending on the portfolio you work on, it can be interesting work.
But, if you are looking for an investments role, then your path from servicing is a little more cloudy. Is it possible, very much so (I've done it with several others I know), it just isn't the straight forward path.
The job is located in Dallas.
I do foresee myself staying in Dallas for at least 8-10 years.
When you say decent money: what do you mean? Could you share any numbers/ranges?
Do you think this is a better opportunity than my current position?
What would you recommend for someone to go from servicing to an investing role?
I appreciate your feedback!
As an analyst/associate I was all in between 95k (my first year) to 225k as a Senior Associate. I worked those years at life companies similar to PGIM, but in the Mid Atlantic and North East.
Now, I make over 500k, as a VP at a debt fund running asset management.
Not easy to get here because the jobs at this level are few and far between, but I know several people at CBRE, JLL or Situs making 200k-300k as VPs.
If you want to stay in Dallas, loan servicing is actually a pretty big thing there. Situs, PGIM, GS, and a smattering of smaller shops all have offices there.
.
I'm in my late 30s.
I would counter at 85k as that is where analyst start 10k sign on
I did counter and they did not nudge. Holding tight for now.
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