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WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
I am not super familiar with what a FICC trader does, but to give you a data point, most VP1s I know at BB make a base between 250 and 300k, so 180 seems a tad low.That being said you had a tangible data point of 172k that you used as an anchor.I remember in biz school a professor said to make your first offer something almost crazy high without being too outlandish, so as to set a high anchor. Knowing the previous base I would have set a starting bid around 200-215k and expected them to counter back around 190k.
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Oh man, that’s a very naive view.
Companies don’t want employees talking about comp for many reasons, but mainly because knowledge is power.
Back in the day it was very taboo to talk about it, but that’s why the internet is so great, gives back some power to the underlings. They don’t want you to talk about so you don’t really know your worth and they can have some control over your comp. I mean isn’t that exactly why you posted here?
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Your own firm asked you what you should be paid when promoting you? I have never heard of anyone doing that, usually they just tell you.
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