Is My Comp Low?
I work in the Bay Area as an associate / VP level in acquisitions / asset management.
I have 2 years of Big 4 advisory experience out of undergrad, been at my current firm for 5 years now; so total 7 years of finance related experience.
Right now I'm at a base salary of $130,000 with a ~$30,000 bonus target, so $160,000 all in.
I'm talking to my buddies in accounting / FP&A roles that started at the Big 4 with me and all of them seem to be pulling in about $200,000 all in at various tech shops doing accounting work.
Am I under market? Do firms just underpay people who stick around?
Definitely underpaid. Base isn’t horrible but the bonus should be way higher for your level.
Your comp is in line with someone that chose to stay at the same firm for five years so early in their career. You could expect a ~30% jump in total comp if you leave for a new VP role.
That's what I figured. I came in as an analyst and worked my way up and they seemed to string along inflation bumps or slightly more; but never really any "big jumps".
Is the only way to get the jump in comp to switch firms? How likely is it to get it from my current firm without fielding offers? I like where I'm at, hours are good, but the comp is lacking.
I am following your path - 2nd year analyst with the intention to stay on to your level and above.
The advice I have gotten is to just speak to recruiters (openly stating that you’re not actively looking to leave but would like to understand what the comp level would be like if you were to leave) and then simply tell them you want to be paid market level in your next performance review. If they aren’t willing to pay you market comp then that’s probably your cue to start actively looking at other firms, I imagine they won’t be reluctant though, especially as losing you means going through the hassle of hiring and training someone else
Underpaid but not outrageously so. $200K all-in should be the conservative end.
Was recently quoted 130K + 20% bonus for a 1st year associate role in the Bay Area for reference.
I'd say ~$225 for a first year VP is pretty standard for RE (REITs + Small-Mid PE). Bay Area may be a touch higher as most of my comps are SE US. MFs (BX, TPG, Etc.) are much higher.
Also worth noting, many of the smaller to mid size funds include some kinds of carry at the VP level in addition to the Base + Bonus.
Agreed. Have heard similar with Base at $150-175k and Bonus at $50-100k.
Same question - low cost of living area/lifeco lender. $81,000 base + 3-5% bonus. Been at the company 5 years, have MSRE and working on CFA.
Like Milwaukee / Des Moines?
similar, but southeast.
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