feel like I'm being swindled with this offer.

Long story short...

I was able to gain a senior financial analyst position for ATT through networking with a VP of finance in the company.

I only got offered 47k, 52 with bonus. I was making 42 as a part time sales associate.

They said that they took my hourly plus commission base (I normally tier up) and figured that in.

I did the math... And got a $5k bump after being promoted two levels ( store level 0 to corporate level 1b)

Am I tripping? This is my first analyst job. Have a year left in my Ms-finance program.

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Comments (20)

Jul 8, 2014

redacted

Jun 20, 2013

Seems about right. You gotta start at the bottom my friend, also keep in mind that corp. finance just doesnt pay that well in general(compared to IB), check out the WSO comp report. However your pay structure will be much steeper than in your previous role.

Congrats on the new job

Jun 20, 2013

Did you just graduate? 52k right from school is pretty good pay. This board is very skewed and out of touch with reality

Jun 20, 2013
Bobb:

Did you just graduate? 52k right from school is pretty good pay. This board is very skewed and out of touch with reality

i got my bba-marketing from a really small school. now i'm getting my ms-finance from a large, yet non prestigous school.

i graduate in may '14.

i'm not comparing it to investment banking salarys. half the pay for half the hours. i get that.

i'm just looking on websites like glassdoor and the avergae is SO MUCH HIGHER than what i'm getting paid. i'm not even on the bottom tier.

Jun 20, 2013
Vagabond85:

"This is my first analyst job" <= this is why they're not paying you top dollar...you haven't proven yourself. Finish that MS, crush work for at least a year, then come back to the table with something to point to when negotiating your comp. Congrats on making it out of the sales role...the payoff will come down the road.

parents said the same thing... i just dont want to be stuck, ya know? making 50k w/ a masters in finance when the guy next to me makes 40k more because he was an outside candidate.

is that how it goes out here in corporate finance?

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Jun 20, 2013
jss09:

Seems about right. You gotta start at the bottom my friend, also keep in mind that corp. finance just doesnt pay that well in general(compared to IB), check out the WSO comp report. However your pay structure will be much steeper than in your previous role.

Congrats on the new job

thanks... it just seems really really off... like, i know tons of cats that first finance analyst gigs were around 55, 60... this is a multi billion dollar corporation...

when i was a sales men, if i hit 100% of my goals and worked 40 hours a week, i would have made 44000...you DEFINITELY WORK MORE THAN 40 hours, so everything after is time and half. plus extra 10% on sundays. and the commssion checks are always over 100% if you're a decent sales man. so if i was to go full time, i'd be making 65 easy.

i only went up 5k. they said i couldnt counter because i was internal.

if yall say its normal, then i'm going to roll with it... it just seems like a small promotion in pay. there's 5 levels of employment status at this company. if i was to get promoted one level every year and salary bumped the way i was just bumped.... i'd be the CEO of the company making 90k...

real CEO made 20 million last year... lol

i'm new to this corporate scene but it just seems like there's not much room for growth money wise because i already work for them.

how could i step to them and ask for a raise if they've already said i cant even counter offer my initial salary?

Jul 8, 2014

redacted.

Jun 20, 2013
Vagabond85:

You're missing the point. Unless there's something you haven't told us it doesn't sound like you have any financial analyst full time experience (masters is nice, but not the same), so you can't compare to an external candidate. Be happy they gave you a shot at a much better trajectory career wise. If they won't bump you up after you have 1-2 years experience, a competitor surely will. Be patient.

is a banana like a rep? cuz if it is, i just gave you one.

thanks, vaga.

Jun 20, 2013

Don't waste your time climbing the ladder, it's meant to keep you "in your place" the way a hampster wheel functions. Find a recruiter and jump ship to a better offer after 6/12 months. Your boss is going to pay you as little as possible and it likely won't change, so hit the pavement and find a better job.

    • 1
Jun 20, 2013

I wouldn't bother negotiating with them or asking for more money b/c you won't get it. It's pretty normal for an internal hire to not get a huge bump in salary, especially in corporate finance. What you are going to have to do is work there for a year and actually get some experience as a financial analyst, and then leave them to get a pay bump.

You are always going to be starting at the lower end of the spectrum, but if you bounce around for a bit every couple of years, your bumps from taking a new job will get your salary up. Don't be stupid about it and change firms every year or something, but after 1-3 years at your first few jobs you will both get raises to lift your base, and you will get bumps moving to a new role at a different firm. This will get your base salary a lot higher if you're smart about it.

You will eventually have to be longer term somewhere or your resume will look bad, but it won't kill you to do it a few times early in your career as long as you can explain it away during interviews.

I can't speak to whether or not that is a high or low salary for an entry level Financial Analyst though, so it may be perfectly normal. It seems like it would be pretty fair entry level corporate pay to me. I'm in a whole different world than that though.

    • 1
Jun 20, 2013

Are you paying for the Masters or are they?

Jun 20, 2013

Dude, not sure where you're getting your info from but for an entry level FA role you're not doing too badly. I had a few friends who were making

Jun 20, 2013
jos.a.bankhard:

Dude, not sure where you're getting your info from but for an entry level FA role you're not doing too badly. I had a few friends who were making <$40 out of school as FAs for huge companies. Do well for a year and actually develop some skills and then get a better offer elsewhere. I also don't agree with the guy who said the pay accelerates quickly - they will pay you as little as possible if you stay internal. Corp FA/reporting is a commodity, it's no big deal to them if you leave. Just my thoughts based on some friends' experiences.

i stated that in the OP... 1st source is unofficial, although very accurate websites like glassdoor.com and salary.com.

the second comes from our internal system... for this job.. the payscale ranges from 47k to 98k...

i'm working at the downtown main headquarters. how am i getting the absolute minimum of that scale?

but i've listened to a ton of people and they're saying that this is how things are... so i'm just going to treat it as such... work hard, do my thing... all while looking for better gigs.

it just FEELS weird.. that's all...

Jun 20, 2013
NYU:

Are you paying for the Masters or are they?

they have a reimbursement program of $5k...

i dont even know if i want to take advantage of it b/c i would think they'd want their money back if i'm gone after i graduate.

Jun 21, 2013
handullz:
NYU:

Are you paying for the Masters or are they?

they have a reimbursement program of $5k...

i dont even know if i want to take advantage of it b/c i would think they'd want their money back if i'm gone after i graduate.

Find out how long you are tied in. It varies from corporation to corporation. I've seen a 5 year vesting period, where you accrue 1/5 of the tuition they reimbursed for each year.

But, if it is only $5K/year, generally it would be the number of years of your program (i.e. one in this case).

Jun 22, 2013

$47k is above the norm for most FA positions. I know kids I graduated with making about 40k in FA roles. While the salary is low, the culture is probably pretty good too. I imagine you are out by 5 everyday. Also keep in mind, a simple job search will show hundreds of open FA roles. If you get some decent experience, you can jump ship to a much better offer.

Jun 22, 2013

It may also factor into the fact that you are still in school. They know things will come up and sometimes, you may have to take off to study or something. This will prepare you better for FT though if you decide to venture into other FA roles at other companies. Don't feel attached to your current one post grad, unless you truly enjoy it and don't want to look at other opportunities.

Jun 20, 2013
jasper90:

It may also factor into the fact that you are still in school. They know things will come up and sometimes, you may have to take off to study or something. This will prepare you better for FT though if you decide to venture into other FA roles at other companies. Don't feel attached to your current one post grad, unless you truly enjoy it and don't want to look at other opportunities.

My classes are all after I get off work so I don't think they're taking that into consideration.

It really won't cause me to miss school.

I'm definitely not going to stay committed to them. I want to get into banking anyways so this was just a stepping stone. I figured I could get my first financial gig by showing good work ethic on the retail side (crushing sales, talking to any exec that walked in, etc)

And the way the raises go, I'd be the CEO making 90k if I get promoted every year. :lol

I was really hoping to use This as leverage to try and get into an analyst program (corporate lending, investments, or whatever I can) upon graduating.

Its tough because many require MBA. I'm in a MS...

I'll cross that bridge when I get there. :lol

Jun 23, 2013

is 'financial analyst' the same gig as 'corporate finance'? if so, i thought these gigs paid 60-70k to start out.. im surprised that BB Ops gigs pay more than F500 corp finance, if the salary range shown in this thread is the norm

Jun 20, 2013
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