2010 FT Salaries CHARLOTTE vs NY

Bretthollo's picture
Rank: Monkey | 33

So I got several offers from firms in NY and in CLT and had this as breakdown:
BAML: $70 + $10 (NY)
Wells: $70 + $10 (CLT or NY)
Boutique: $60 + $5 (CLT)

My question is, is the Wells # wierd or is the Boutique # weird? I definitely want to work at the Boutique, and will honestly probably work there either way, and $65k in CLT goes a real long way, but I'm just curious if I should attempt to negotiate a little or not

Region: 
United States - South
United States - Northeast

Comments (28)

Nov 4, 2009

if the boutique is a top notch well known one, then that number is quite low. Why are you declining BAML? I think you will have a better exit opp than the boutique.

Nov 4, 2009

Take either BoA or WF. I would do BoA if you get ML legacy group or a solid bank in general. I would do WF if you like their culture and the fact that they are rising FAST. I think BoA still is a bit better than WF but factors such as groups and culture matter, so pick on preferences.

Don't take a boutique over the previous two though. BB > no name.

Nov 4, 2009

boa sucks, hiring like 120 people this year... take wells fargo, seems like better future prospects

Nov 4, 2009

If you want the boutique, then congrats. Don't listen to people pushing the BB, to each his own. With negotiating I say go for it, but go lightly. As you said 65 goes a long way in Charlotte and you don't want to have a black mark on your name when just starting out. Maybe one of the career help people have more specific advice. Good luck.

Nov 4, 2009

OR take 70k+10k AND it's a BB (aka boa/wells fargo) at CLT/NY rather than crappy boutique.

loser above me works at a boutique lol

wells and bank of america is def better than a crap boutique

    • 2
Nov 4, 2009
ultratrader89:

loser above me works at a boutique lol

wells and bank of america is def better than a crap boutique

This is the second time in two days that I have seen douche-bag like posts from ultratrader. We all know you went to Duke (who is probably an Asian with a really small dick, no offense to any other Asians on this board) and think you are the man.

If you don't have something constructive to say with regard to this kids offer then don't. In reality, you are the last person who he needs to hear from. You opinion is derived from what others have written on this board and a few classmates. How about you leave that to us who already work on WS.

Nov 4, 2009

1styearbanker -

Do you happen to know which groups at BoA are ML legacy groups?

Nov 4, 2009

ultratrader - are you off of your meds? calm down and get back to class. hold off on talking out of your ass about an adult decision until you get an internship. bitch.

Feb 6, 2010

Monkey: PM me.

Nov 4, 2009

did you ask what the target or estimated bonus range is for each of these places?? that could make a huge difference.

Nov 4, 2009

ur retarded to ask how much money u gonna make how is anyone gonna knokw that

i think the boutique would be the lowest though so dont go to that

Nov 4, 2009

tip #1 - don't negotiate for more money. splitting hairs over $5k for an entry job is only going to lead you to bad places (offer withdrawn, bad rep before you set foot in the door).

tip #2 - go with bb over boutique, unless as mentioned about its a prestigious boutique. bb will get you better training and networking while there, and better exit ops when leaving.

Nov 4, 2009

Agree with tip 1, even though it sounds like its a 80k vs 65 = 15k difference.

Nov 4, 2009

OP: Congratulations on your offers. I'm sure you must be happy.

To answer your original question, it's not worth trying to negotiate salary. In the end, the 5k won't make a material difference, but the potential negativity could really hurt your reputation at a small place.

I would also echo the post above me. For someone who doesn't have an offer on the street or seem to know anything about it, he's overly opinionated.

If you do change your mind as to working at the boutique, assuming you liked the people equally, I would choose BoA ML.

Wells and Wachovia were both primarily retail banks with a MM investment banking focus. While it is now a huge bank, with great potential to build out its investment banking business, it will take years and years before it is on the same level as the other BBs.

Nov 4, 2009

lots of toolish asians in this thread.

also lots of losers in here trying to defend their loser boutiques offering 60k and prob a 20k bonus lol.

take wf or boa

Nov 4, 2009
sternmasta:

lots of toolish asians in this thread.

also lots of losers in here trying to defend their loser boutiques offering 60k and prob a 20k bonus lol.

take wf or boa

Speaking of "toolish", sternmasta=Dan Bush?

Nov 4, 2009

I'm interested in the boutique b/c the people are awesome and I'll be working with the in-house fund as well, honestly think its going to be a much better learning experience overall.

Nov 4, 2009

Hey Broloway,

I messaged you about the superday at wells.

thanks!

Feb 6, 2010

Take BAML.

Nov 4, 2009

What boutique is it? Sagent Advisors?

Nov 4, 2009

What's the role? Their Credit Mgmt Training Program? LevFin lending?

Nov 4, 2009

i think you really need to say what the boutique is. if its something like Jefferies then your argument is much stronger to take that based on culture/fit bc in this case your boutique is reputable and you'll see good deal flow.

Feb 6, 2010

my opinion go with Wells or BAML.

1 - Better exit ops than a boutique
2 - The possibility of working on more deals with a BB as the dealflow might be better than the boutique depending on your group
3 - Don't negotiate the salary with the boutique. I think your decision should be between WF (CL), based on the cheaper costs of living in CL and still being able to work for a BB that is growing.

but culture does play a big part. If you feel that BAML is that much better go there. You have to look out for yourself and think about where you want to be 5 to 10 years from now. Exit Ops from a BB, and the higher pay, should be enough to at least push you away from the boutique.

Either way congratulations on your offers and best of luck!

Feb 6, 2010

Or you can be a man and work for BAML/WF in NYC.

Feb 6, 2010

http://dealbook.blogs.nytimes.com/2010/02/05/berks...
Joint lead manager for the 8 billion deal.

Jan 17, 2011

is the boutique fidus partners?

Jan 18, 2011
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