How much should I ask?

Hello guys. Made a thread like a year ago, asking for help in terms of buyside roles and hours. A year later things ended up working out. So first of all, wanted to thank everyone for their help.

I was offered a junior equity research analyst gig in London for an Asset Manager/Private Bank. My team (PM, Analyst and myself) manages $800m, no particular mandate but very deep fundamentals. The guys I work with come with very strong pedigrees.

Meanwhile, I instead come with zero FT experience. Three internships, one with the current fund. Despite this they offered me a role and asked me to name a price. Assuming there's no bonus (not sure whether they have one), is £60k reasonable? According to this £60k is the most I could expect. I was already advised by someone internally on how much to ask, however the number I heard was slightly below my expectations. So I would like to ask for a bit more (when I say a bit I do mean a bit). Would also appreciate any advice on how to structure the conversation to ensure I don't come across as a greedy pig?

Thanks guys!

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Comments (5)

Dec 13, 2020 - 1:25pm

The very toughest part of AM, particularly buyside is getting in. Most sellside guys would give a testicle to be buyside instead. Ask how much experience you'll gain and how this will help your career trajectory. My big break was taking a dumb flier for very little in additional pay in a different city than I was living in at the time.  Proving myself and circumstances beyond my control doubled my salary in about three years.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
  • 2
Dec 13, 2020 - 2:09pm

Ironically the internship at this fund was advertised in a very unusual manner and did not even disclose it was buyside until I started working. Pay also wasn't great. Wouldn't have guessed that I would be where I am now. Funny how you too had to take a chance. Either way many thanks for the advice, will prioritise experience ahead of pay during the conversation.

Most Helpful
Dec 13, 2020 - 8:00pm

naky91

Ironically the internship at this fund was advertised in a very unusual manner and did not even disclose it was buyside until I started working. Pay also wasn't great. Wouldn't have guessed that I would be where I am now. Funny how you too had to take a chance. Either way many thanks for the advice, will prioritise experience ahead of pay during the conversation.

Things are easier once you've broken in. Get some experience and you'll be above almost everybody who prioritized an extra $10k/yr in their first job.

See my other thread this week in this forum. I'm not even looking and I have headhunters looking to hire me and pay for me to move 3000 miles to work for a different firm.  I am leaning towards demanding a $40k/yr raise to do so depending on benefits, base/bonus breakdown, etc.

A caveat that I will give is that I am in a highly desirable part of AM (Quant Finance/Factors/SMAs/Mutual Funds/ETFs, etc.) I did just catch your private bank reference.  These terms are unregulated. Are you working on fund design/support or is this more towards a FA/WM type role?  A lot of my advice may be out in left field if you're in WM.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
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Nov 24, 2021 - 6:26am

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