Does anybody else get depressed when you get a call for a job that pays way below what you are looking for?

Port Ricky's picture
Rank: Gorilla | 668

Hi All,

I was just contacted an internal recruiter at BNY. The spec is for Lead Analyst for HF valuation calculations. I'm pretty sure I could do the job without breaking a sweat, and going to work for BNY might be a decent move for me at this point. So we are going over the specs and we got to the "What are your salary expectaions?' part. I NEVER answer this. After a minute of run-around the recruiter says base is $90-$110k....for the lead analyst...in NYC...WTF? Seriously WTF. The fucking lead garbage man on the truck makes more than that.

The rational response is to just say "No, thanks" and hang up, which is what I did. The recruiter is simply just calling numbers on resumes that are in their database. Swing and a miss for both of us...fine...

But now I am deeply depressed. What the hell is wrong with me that at this stage in my career, where I should be clearly making 2x that amount, that employers think they can get someone with my stats for no money?

What is the point of going into this business, putting up with WAAAYYY more bullshit than like 95% of other types of work, to get less money than a bullshit city employee? Seriously, I feel like something is really really wrong if I can explain how a bank works front to back, explain every greek, every product, economic drivers for PnL, Macro economics, etc etc etc and the market suggests I am worth the same as some non productive bureaucrat. You might say I am reading too much into a simple phone call but dammit serious WTF do I have to do to get someone to recognize the level I am capable of operating on?

Seriously - can someone help me be free of this feeling?

Thanks

Comments (22)

Jun 5, 2018

Market is telling you something. Adjust expectations.

Jun 5, 2018

Yeah - you're right. Some guy in India making $400/mo to call people based on keyword searches gets me on the phone and I should just give up and roll over. Got it. Thanks.

    • 4
Jun 5, 2018

Do whatever you want. You're the one crying that no one is paying you what your worth. The market determines this, not what you think.

Best of luck.

Funniest
Jun 5, 2018

What do you want from us? To hold you and tell you it'll all be ok and you'll make millions soon? Just be a man and don't try to get sympathy and work for it. If you want advice on what to do for a career move then ask, but if you want someone to hold you go call your grandma.

    • 3
Jun 5, 2018

Man up. I get that. And I am not asking for millions. But JFC if it walks like a Director, talks like a Director...it's a fucking AVP? I'm sick of getting bullshit calls from India everyday asking me why I won't relocate to Buffalo for $50/hr. I'm sick of dumbass HR people who don't know their ass from a hole in the ground having the power to torpedo my whole fucking life.

You know, if someone puts a post up here about which sand wedge to buy they get 30 responses. But I post from my heart that this nonsense is causing me emotional distress and this is what I get? Thanks guys.

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Most Helpful
Jun 5, 2018

I'm listening, I just don't think you're going to get far by being so upset over something you can pre-screen out of your life before accepting the call.

If you are sick of doing these calls, simply stop taking them until you pre-qualify more. I can understand it's depressing getting your hopes up and then to be insulted on the back end, but most of these recruiters lack the industry expertise you have and are trying their best.

I call it a 1st world problem when you're offered a 6-figure job and you take it as an insult :-)

Sure, it's annoying, but it shouldn't be depressing when put in the proper context.

Good luck!
Patrick

    • 7
Jun 5, 2018
Port Ricky:

But I post from my heart that this nonsense is causing me emotional distress and this is what I get? Thanks guys.

If what's in your heart is a sorry-for-yourself rant about how great you are and why won't anybody realize it and stop treating you like you're - god forbid - an average joe, then you've got bigger problems than your job prospects.

Jun 5, 2018

So much city employee and India shade lol.

Jun 5, 2018

I am an undergraduate student from India majoring in Economics. I don't know much about finance like people here do, but I can totally relate to you. I have similar kind of frustrations because I also feel like I am worth more or I deserve better opportunities. I was looking for summer internships for past few months and was expecting some gig at some economic consultancy or some bank where I would use the knowledge I gained in past two years. I even found a few internships but you know what, they were asking for engineering undergrads or MBA students for the internships which a business or econ undergrad major should get. Opportunities for which I was selected were related to HR internships at banks and consultancies for which I refused offers because I think I am not going to waste my summer instead I started preparing for GMAT. I don't want to be the guy who called you for the job offer in future instead I want to be like you but less frustrated.

Recently I saw some master in finance programs in the USA and wrote emails to them and almost all of the good schools told me that they don't recognize three year bachelor's degree from India. My dream of having a better life with a meaningful career got shattered and I asked myself if I deserve this. I study at a good university not as good as American universities but I am sure I am having a good education and one of the best in my country. Today I literally cried in my room for hours.

When I was a kid I used to save every Indian rupee I can because i belonged to a poor family and used that money to buy some shares through my grandpa's account in some Indian company. Luckily it was 2009-10 and markets all over the world were rising after the crisis. Slowly my interest in stock market increased and I started having big dreams of becoming a fund manager like Peter Lynch when I grow up to help families with low income to protect their wealth by investing money on their behalf. I was 13 then and I didn't even know the concept of target schools until I joined my final year of high school. I have been saving and investing my own money since I was a kid and often I think I am a better than most people but this experience or knowledge has not came in handy for finding or getting my desired job. There are times I am angry on someone else to get an internship because he had some kind of contact whereas I have better skills and knowledge and I dont get hired. This is how things work in real life and I did not accept it with time which was wrong on my part. Not every time labor economics will work nor our own expectations from the job market are going to be a reality. I don't know about your job but I want to encourage you to keep looking for things and one day you will find the job of your dreams. I wasted a few weeks thinking about wrong things and in frustration. I am going to start planning now and male some new friends here so that I can work on my goals and try to match them with reality or at least have a happy life. I hope you will do the same. I recently finished reading a book called Defining Decade by Meg Jay. I liked this book and I recommend it to you. I am guessing you are in late twenties or early thirties so there's still time to have a better job but you need to find what gap you need to fill so that you can have the job. Good luck!

    • 6
Jun 5, 2018

lead garbage man lmaooo truth. real talk garbage boys make 80k base starting out and so do cops, firemen, and so forth. not saying these are undesirable careers (almost became a cop myself) but they don't take 4 year degrees and 70-100 consistent hour work weeks. i haven't been to a happy hour in over a year, some garbage man is eating my $1 oysters..

What concert costs 45 cents? 50 Cent feat. Nickelback.

Jun 9, 2018

Yo can you PM me? For some reason I can't PM you right now.

Jun 5, 2018

I have had similar thoughts in the past, e.g. I graduated from school X but only landed job Y with salary Z. but ultimately came to realize this kind of thinking is a WASTE OF TIME. Not in the sense of "Let me just accept my dire situation, I am actually worthless, it was all for nothing" etc. but in a completely different sense. It is a waste of time because that thinking never actually changes your situation, except for that it makes you bitter. Some would argue this bitterness drives you to work harder, but let me tell you that a positive attitude is actually way more productive in the long run. Appreciate where you are, and TRUST that you will get to where you really deserve to be. IF YOU PUT IN THE WORK AND ADD MORE VALUE THAN YOUR PEERS, IT WILL BE RECOGNIZED and you will move on to greater things. Someone will recognize your ability to add value, this is finance after all.

Stop feeling entitled, start feeling grateful, add value any way you can, and keep on working hard. That is a 99% guaranteed way to get whatever salary you can dream of down the road.

On a side note, I have a friend in recruiting for finance positions, and they basically call anyone and everyone remotely qualified, then low-ball the hell out of them. Think about it from their perspective.

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Jun 5, 2018

I have worked very hard for a very long time but there is always some wacky twist or turn that I have no control over. One time I worked for a boss who was so crazy I had to take my keys out of my pockets before i walked in the office because if he heard my keys jingle in my pocket he would leap out of his chair and look aroubd like he heard gunshots. That was just the tip of the iceberg.....

My first trading job I had 100k equity in my trading account and went home flat every night and the motherfucker i worked for would not ket me take a draw because I "had on too much risk". I was FLAT!!

Earned the CFA 10 years ago. No one gives a flying fuck. I still interview with people who don't even know what it is.

Tried to start a hedge fund that was short index vol. Met my first potential client the day Lehman went under...

It goes on and on and fucking on. Its not about merit. Its not about trying. If trying were the key id be worth 20mm by now. No, what is clearly missing is luck.

    • 3
Jun 5, 2018

One alternate note to consider: If you are in New York, it is now illegal to ask people what they currently earn. This means they can ask your expectations only. Because people who are making $350k will often ask for $1MM and items completely ludicrous, employers will often start with a low offer to get someone to reveal what they actually earn or get a closer hint at their true reserve price.

Getting butt hurt about it and hanging up does you literally zero good. Play the game or continue getting paid like shit.

    • 2
Jun 6, 2018

Thanks - From now on if the subject matter of a job or the work that a group does interests me and is a fit I will respond with number that reflects NYC reality - i.e. the top effective tax rate is pushing 60% and a shack in the hood is $1mm.

Jun 9, 2018

How much do you think internal valuation roles pay?

Jun 19, 2018

I was hired for work and on the following day they were sent me a job offer where the salary was much lower than the original salary

Jun 19, 2018
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