Is this a fair comp?
I posted before about an offer I received for debt asset management but they countered:
So I would be going from MF debt production to debt AM. My base would go from $85k 20% bonus to $75k 15% bonus. Is this $75k plus 15% bonus a fair comp for someone with a 1 year experience? I can afford to take the hit but it definitely sucks but understandable as AM doesn’t pay as good as production.
Anyone is debt AM able to share their comp with 1 year experience?
What city?
I would say it’s a HCOL area
I'd say for a HCOL that is low 30th percentile salary to be honest, for 1 year exp. Have you tried to negotiate it and tell them what you're currently making?
I did and they don’t even want meet me at $80k base. What would be a fair base salary for debt AM with 1 YOE?
What kind of company / what is your raise/bonus cycle look like?
It's a REIT based in NY, I’m not sure the raise bonus cycle
Most REITs consider debt AM as an expense/operations function and not value add/part of the investments group. This is because of the nature of their assets being cash flowing and low deliquency.
These groups tend to pay less for analysts/associates because it isn't expected for people to stay in those spots for a really long time.
The groups that pay more for debt AM are generally funds because they target value-add/opportunistic type of deals which require actual management.
If you've already told them what your current salary is and they won't match, then unless debt AM is really where you want to be long term (and are willing to climb the ladder), I would pass.
No, in HCOL city 1 year exp analyst in this role should be around 100-115k all in, but depends on shop. If its some tiny fund then maybe that makes sense, but 80k all in is an insult in 2022.
The shop is a REIT
Regardless seems underpaid to me, especially for NY.
Definitely underpaid imo. I would pass if you can afford to stay at your current firm for now. Keep looking.
My first year in debt AM in the earlier part of last decade was 85k plus 20% bonus. I had experience before but not relevant so maybe close to a analyst level. 10 years later, your comp sounds low and you'd have to add up all the comp benefits of each role to see if its a net benefit. I think what might work against you is that you only have a year in a production role so it's not like you're this seasoned vet bringing a ton of deal experience with you. A signing bonus could help move the needle in your favor.
So maybe $75k + 15% bonus and a signing bonus? How much should I ask for
Did you not read what he said? He was paid better than what you were offered….a decade ago. Absolutely do not take this job. If a company is willing to pay you so poorly and refuse to negotiate then it’s not worth working there. Think about what that says about the firm and leadership.
Dude this is fucking awful comp, do not take this.
What should the comp be then?
Minimally $85k on base, bonus is more of a discussion point and what you’re willing to take.
So they wouldn’t budge and stood at $75k and 15% bonus. They initially did $70k and 10% so I feel like this comp is much better so I just took it. It’s a good opportunity too. I would be running the team and would be the right hand of the VP. A “one step back two steps forward” thing.
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