Back Office (BO) Product Control Finance - Salary after X years? (long-term)
I am about to take a full time job working in product control (finance - back office) at Goldman Sachs and I was wondering how the salary progression will be like several years down the road.
Irrelevant, but I took this position instead of a full time Audit position with E&Y (I don't want to get my CPA ...).
So my starting salary at Goldman Sachs is 65k as an analyst and I was wondering how the salary will increase after a few years.
Analyst 1st year - 60k
Analyst 2nd year - ??
Associate 1st year - ??
Midterm goal would be to hit 100k salary ... will that ever be possible?
Last curiosity -- will promotion be more likely if I do a part time MBA down the road (let's say at NYU)?
Thanks!
I'm sure 100k is possible @ GS after 3-4 yrs.
I would think the base pay for the near future is going to be dependent on the economy and job market.
Do you get a signing or yearly bonus?
$100K should certainly be possible within 4-5 years (all-in comp) if you are in the 200 West or Jersey office. Not sure on the part time MBA, as that tends to vary by company and group. It may or may not be necessary. Several of my older coworkers are in part time programs and but many are not.
Source: I'm a BO monkey.
i get a signing bonus of 10k, don't know about yearly though ...
for those that work in BO, where do you see yourself in 5 years?
Easily attainable about 4-5 years. But most likely you may not be in the BO role in 4-5 years so keep that in mind. Trying to predict anything more than a few months in this economy will just set you up for disappointment. Your living situation could change, your outlook def. will change, you may not like BO and get the heck out for anything that comes your way, or you may even make the jump to FO.
I'd say most people in BO don't see themselves in BO In 5 years. Either out of the industry in a Corporate development role, transition to the FO, or do an MBA for a career switch
I think this is a huge misconception created by the prevailing attitudes towards BO of the WSO demographic. Most people in BO are making careers for themselves in BO. A select few are actively trying to move.
People who want to make a career out of BO when they are young make me sick. I could see someone who is older with a family wanting to stay 'comfy' in BO.. that is fine. But really.. you're 23 yrs old and you want to make BO your career? How lazy/underachieving can you be (and this is coming from someone who works in MO)?
I work with young people all day who are comfortable in their BO jobs and they are usually huge tools. The reason why they are BO and will never get out isn't because they like it.. it's because they have no other redeeming qualities that can catapualt them to the FO. They realize this and they are 'content' with working their 40 hours and getting a mediocre to better than average pay check. I guess it is fine.. just not me.
PM me for details
rhi rhi, you shouldn't have to settle for BO girl
rothyman, are you actively trying to get to FO (from MO)?
I have a SA offer for Ops/BO, but I'm pushing for a FO SA position.
I went from BO->MO->FO (financial sales).
I wouldn't push the BO guys to get you into the FO. They will hate you. It's better to network with the FO guys and keep your mouth shut about it infront of anyone in BO who has power over you. A lot of these guys in the BO that are high up take real pride in their job and hate to even hear the words 'back office'.
Good question, I feel like there wouldn't be a raise when you get to 2nd year analyst...probably a year end bonus after your first year and a raise when you get to the Associate level. Anyone know what the salary increase would be to an Associate level?
I'm in MO as an SA. It's only been 3-4 weeks in and I'm already actively pushing to get out.
If working a 9-6 is cool with you, go for it, but I urge fellow BO/MO monkeys to move on.
While personally I agree with you on your latter statement, there are some very smart/hardworking people out there who have been in BO/MO for awhile now.
It really does depend on what you want. Sometimes I see these BO/MO guys with decent hours, great family life, and decent pay and compare them to the portfolio managers who are pulling their hair out with a shitty family life with lots of $$ with nothing satisfying to spend it on.
It really does take awhile to get some perspective on the whole thing.. as young monkeys the majority of us get stars in our eyes and want to go immediately to FO. While $$ is of course important, I wouldn't take an FO job if it didn't fit my lifestyle and ultimate happiness.
Product controller compensation (Originally Posted: 09/23/2014)
What is the going rate, salary + bonus, at an IB for a product controller with 8-10 years of experience? Please provide figures for both a manager and a non manager. Thank you.
?
Can anybody provide some input on this?
Anybody?
http://www.glassdoor.com/Salaries/product-controller-salary-SRCH_KO0,18…
Product control (Originally Posted: 07/26/2007)
Hi, I was wondering if anyone knows what the salaries are like in product control at a BB, say entry level to VP
anyone?
most of the people on this board are either entry-level or prospective monkeys. i don't think this would be the best place to find out exec level info.
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