JP Morgan Asset Management Salary Question
Hi, I was recently offered a job at JP Morgan Asset Management. It's their fresh out of college analyst program.
I was wondering what's typical in terms of base/sign on/year end, i.e. if I have a leg to stand on in negotiating salary (and if JPMAM would negotiate to begin w/).
If you guys have any data points, please let me know.
I can of course tell you what I was offered and give some more specifics about my position, but I'd prefer to do it in a PM to avoid identification.
Thanks
i dont really think that you can really negotiate out of college salaries that much (unless it was really dismal). At the end of the day 5-10k is not really that much difference compared to differences in career tracks and, more importantly, trajectory of income.
London or New York?
New York
Coming fresh out of college you don't have a lot of bargaining power or knowledge (usually) - there is always the disconnect between the academic environment and what actually happens in the real world. You want to follow the best opportunity for experience (not highest paying necessarily) so don't be preoccupied with making bank your first year out. Your income will grow exponentially. Instead LEARN all you can. Get as many licenses out of the way ASAP (Series 7, 66, insurance, CFA, CFP, whatever is applicable). Invest in good clothes as college kids usually don't realize the level of professionalism that is expected (depends on the place). Don't expect a big sign on bonus, maybe a 60k base depending on where you are and depending on how the company or your division does a 20k ys. end bonus. Read everything you can get your hands on.
I am also curious to know the comp trajectory for asset management. I currently work in IB, but I am interested in moving over to the AM side. For analysts and associates, I figure that the salaries will be comparable to IB, but I would like to know how bonuses are structured. And after a while, does comp convert to a more "trader" style (percentage of gains)? Perspectives on work/life balance? I'd appreciate any feedback.
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