WFH / Hybrid comp?
Hi all, I have a bit of a nonstandard working arrangement and would greatly appreciate honest opinions if my comp is fair.
WFH arrangement: WFH 3 weeks out of month, then train to office 1 week a month (4 hour one way)
Position: 3YOE, associate REIB for bout 1 yr. Living in HCOL
Base: 130k
Bonus:~70K
Equity vest: 25k per annum
Travel expenses when I'm in office: reimbursed for within reason. Likely 20-30k per annum for hotel and other
Hours: 60 hour/week with 75 during busy season which is bout 75% of year
Any thoughts on if this arrangement is fair? Considering the hybrid nature of my work, would you ask for more?
Thank you in advance!
Based on the most helpful WSO content, your compensation seems competitive for your role and experience, especially considering the hybrid nature of your work. Here's a breakdown of your situation:
Base Salary: $130K is reasonable for a 3YOE associate in REIB, particularly in a high-cost-of-living (HCOL) area. While some firms may offer slightly higher bases, your total comp is what matters most.
Bonus: A $70K bonus is solid, especially when combined with your base. This aligns with what many associates in similar roles report, though bonuses can vary depending on firm performance and individual contributions.
Equity Vesting: $25K per annum in equity is a nice addition, especially if the equity has strong growth potential. This is a perk not all associates receive.
Travel Reimbursement: Having $20-30K in travel expenses covered is a significant benefit, especially given your hybrid arrangement. This ensures your out-of-pocket costs for commuting and accommodations are minimal.
Hours: Working 60-75 hours per week is standard for REIB, particularly during busy seasons. While demanding, this workload is typical for the industry.
Should You Ask for More?
Overall, your arrangement appears fair and competitive, but if you have data suggesting peers in similar roles are earning more, it could be worth exploring a conversation with your manager.
Sources: Let us WFH, https://www.wallstreetoasis.com/forum/investment-banking/william-blair-wfh-experience?customgpt=1, Why We Should All Return to the Office, WFH Should be the Default in IB, WFH Should be the Default in IB
Seems like a great gig and comp honestly, its even better that they reimburse you for commuting. Feel like half of WSO would take this in heartbeat.
Setting the comp aside, it's a little absurd that they are paying for your travel expenses to allow you can work remotely.
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