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There should be a signing/relocation bonus. Don't ask for anything else.
^^ Agreed...Don't get greedy bro. Take your early sign + standard bonus and enjoy the school year.
Salary negotiation - 1st year Analyst (Originally Posted: 07/30/2013)
A little background on me: - Graduating Engineering from a reputable university with high GPA (~3.5) - Around 1 year of relevant work experience, consisting of 4 internships
I'm negotiating a 1st year Analyst offer with a boutique consulting firm in Toronto. The firm is very small with only 7 people, including me, but has been around for quite some time. It specializes in sales strategy and sales outsourcing. I went through a 1-month trial with the firm and they've been loving my work so far. My work as an analyst will involve heavy lead generation, company research, cold-calling and some transformation strategy if I'm lucky.
What kind of salary and benefits should I expect? And how can I effectively negotiate with the partner? These guys are very seasoned sales people, with no-bullshit all-performance attitude.
Thank you!
Full medical and dental insurance for sure. I would also expect gym membership discounts/deals. Good 401k and retirement management.
So how much would the actual based salary be?
You are an intern in the US. You have no idea about what an analyst with 1 year work ex at a Canadian boutique should get or not get.
OP, sorry, I have no idea, but my post might at least bump your thread :)
This.
How the hell would an intern know anything about negotiating? WSO would be so much better if random college students would stop giving advice.
Agreed, and if you look at his posts it happens quite frequently.
Also, he must of forgot that healthcare in Canada is far different then the U.S.
+1
So true.
Does anyone actually have an answer to OP's question. I am getting curious as well.
Thanks everyone for the feedback, but does anyone have an answer to my situation?
I would use the WSO Company Database as your research tool. There is good infor on salary and benefits in there...you just need to come up with a range of companies that would be good comps and look them up.
Seriously?
Negotiating a Salary as an Incoming Analyst (Originally Posted: 03/24/2014)
I'm curious- have any of you attempted to negotiate your salary or signing bonus after you received an offer for FT IBD? If so, how successful were you?
I must admit that it never crossed my mind when I received my offer, but another user had a great post this week on negotiating salary and it piqued my interest.
Boutique, First Year Analyst Comp Rates? Need help negotiating (Originally Posted: 11/21/2010)
Hey guys,
I'm in the process of negotiating offers at 3 boutique, middle-market IB firms, and I'm looking for some insight into what others are receiving for similar placements. Two of the firms are in NYC and one is in Boston.
I don't want to push too hard, but I know I have leverage with two of the firms (wanting me to commit before January). I'm heading back for my final meetings with the partners at all three firms in early December, and It will definitely help knowing what others are receiving.
Anecdotally, I'm hearing a lot of numbers being thrown around the $60-65k range with limited bonuses for boutique, middle-market firms. Your input would be much appreciated.
Thanks ahead of time!
Negotiating Offer for First Year Analyst (Originally Posted: 11/05/2008)
Great! So I just got an offer at a top consultancy.
So how do you approach negotiating the offer? I've heard that the annual salary is non-negotiable, but the signing bonus is. Also, does this bonus include relocation? Is there a maximum amount? or a good range to negotiate in between?
So, how should I approach the negotiation? or should I flat out not even think about it?
Additionally, what should I think about/ask when reviewing the offer? For current consultants, is there something you recommend I ask or request?
some details: base = 65,000 bonus = 10,000 I will be working in the same city that my university is in.
Thanks to all!
Unless you have an ace up your sleeve (I'm not talking grades, SATs, or internships) and actually have something worthy of negotiating over I would graciously and humbly take what is pretty much an industry standard offer - and hope that it is not rescinded.
What if you have another offer that is more generous in some way (i.e. higher bonus, more money for relocation, etc)?
Supply and demand, you are easily replaceable in this market and I would tread carefully...
lol, you arent even relocating per se. if u think the 5% chance of getting 2500 more bucks after tax is worth coming off as a huge douche then, yes do it. i mean honestly, if u had a good reason then fine but there are people moving relocating across countries. what the hell are u gonna tell them?
Thanks for the comments. I'm definitely going to be careful with any negotiation, and likely will take the offer as it stands. I'm just looking for some advice since this is my first FT position.
Usually, is the relocation included with the signing bonus?
In addition, is there anything I should ask in reviewing my offer?
Thanks again!
usually the relocation is just bundled in with the sign-on bonus. it seems very industry standard, so i would not even dare negotiating this.
you have no need to negotiate. it is a good offer and you will look like a douche if you try it. you are easily replaceable...every first year analyst or AC is.
Some of MBB break out relocation separately from signing bonus and call them different things but as others have said it's really just a lump sum amount paid out before you start. My offer is 5k signing w/ 7k relocation so you getting 10k signing seems standard and within the range. Consider the time value of money and it's better to have it all up front as signing rather than >50% not disbursed for another 9 months.
You do see fluctuations in these lump sum pre-start payments geographically but you can rest assured that everyone else in your 1st year class at your office got the same offer you did, everyone has amazing credentials. If you have a solid, better offer that you want more than MBB then by all means try to play hardball with them and see what happens. Please report back, would be interesting to hear about their response.
Last year I had two offers, one at the consulting firm where I currently work and one doing investment management stuff. The IM place paid more and I asked the consulting firm if they would consider matching my other offer. They didn't but they did up the signing bonus. If something like that happens I would say that negotiating is worth it but as it stands it doesn't sound like you have too much power in this labor market.
new hire salary negotiation (Originally Posted: 08/05/2013)
Hello all,
I just completed an internship at a company and was offered a full time position. I received what I believe is a standard hire package ($75k + signing bonus) but I want to know if it is prudent to negotiate a higher salary.
Any advice would be appreciated.
--
Thank you all for your thoughts. Tl;dr - New college graduates should not try to negotiate a salary.
Take what they're giving you and appreciate the opportunity. Money is important but your first job out of college is all about the experience.
Bro, don't fuck around and take the offer that you DO have. You are in no position to negotiate, as you have done NOTHING for them yet. You will find out down the road, that often the only way to get an increase in compensation from your current employer is to have another offer in hand. So in the meantime, take what you can get & pat yourself on the back for having an offer.
As an entry level employee you have no chance to negotiate a higher salary. You think you are special? You are not. For every one of you there are tens if not hundreds of others who can do the job just as well for LESS money than they are already offering you.
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