Looking for guidance around how to frame a response to the age old "what is your current all in" question, which has come up in final stages of a process
For context:
- 3 years sell side equities trading (ib)
- Took 1 year out over covid to start a business (profitable but lifestyle not for me)
- Now 1.5 yrs on an outsourced trading desk
My all in last year was about $150k which is, to me, low given a) experience, b) additional skills; Python, VBA, SQL. I attribute the pay to a) not trading for an ib any more, b) taking time out of industry, c) not many roles in my city at the time (the middle of covid).
The role in question is a hybrid between dealing and quant research, for a $15bn LO, where I'd be the 2nd dealer supporting ~8 PMs.
I'm pretty much 100% going to take it should it fall my way, but I don't want to get low balled again. Any tips on how to frame this request?
Thinking along the lines of providing a rough all in and following it with a remark about looking to get closer to market rate (which I have a sense of from research but won't stipulate pre offer).
Thanks in advance.
Where is the job located? There are fairly recently passed laws (2020 in NY) that do not allow employers to ask for your current comp (head hunters will try to get a sense, but employers cannot ask for salary history). That isn’t to say they can’t ask for your expectations, but I would keep things more generic (market rate, etc). It does seem like you are underpaid (especially if your job is going to be more quant researcher). With that experience I’d expect a healthy bump ($250k seems reasonable, for the quant researchers I know with that experience it is a bit higher, but more HF than LO so there is going to be a premium at the HF).
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