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I'm pretty sure there is not. I wouldn't try it. IF it was possible (which again I'm almost certain it's not), you'd get a few thousand max. Not worth the bad look it would create.
Analysts are commodities.
Nope - any place with a standardized analyst program will not flex their base. And the smaller firm offer is no leverage - their argument: why don't you just go there if they pay more then? Pretty sure you won't because of better BB brand name, and voila you have no leverage.
thanks! what about the previous experience that no other analyst has? Also the smaller firm is offering me an associate position due to that experience so it's a level up. I'm really not sure what to do
Simple - go where you think would help your career progress further. A few Ks in the beginning of your career is going to make very little difference later on, so money (especially if we are talking ~10ks and not like 100k etc) does not matter that much right now. There's a reason why GS pays below street comp and SWE at Google pays less than say AirBNB. The name brand will pay off in the long run.
I think you answered your own question in the post. If you prefer the job at the BB I would take that job even if it’s at the analyst level vs associate level. In the grand scheme of things your analyst vs associate salary won’t make that big of a difference in 30 years, Plus if your one of a kind experience is relevant then you should be able to outperform your peers from the start and you should be a top bucket analyst making more than them and move up the ladder quicker anyway. AND you get the name brand recognition if you choose to leave to do something else. That’s just me though
Ah yes lose a 6 figure job offer (bonus inclusive) at a BB for a couple grand pay increase not so smart on a risk returns basis and you want to be an investor
no, the only time you can negotiate is when you are 4+ years into your career, and a new firm is trying to hire you away from your current firm.
if you initiate the hiring process...if YOU APPLY for a job at a firm...by default, you have little to zero negotiating power. However, as you progress in your career, for example, when you are a VP/MD level, that is when you can negoatiate, because you are bringing something of value to the table.
However, as a young person just starting your career, you have nothing of value to bring to the table...for the moment, you just have your manual labor. But in 4-6 years, you will have developed relationships and intelectual property which can be monetized. Right now, you probably don't have that....so you have zero power in the negotiation process...you are, as they say "a dime a dozen"
I'm surprised at the short-term POV of a lot of smart, educated students on this site.
There's a pandemic going on. Thousands of incredibly qualified kids are jobless right now. You have an IB job at a BB, arguably the most desirable job for a finance grad. And you think it's a good idea to generate bad will by implying to your future employers that you're better than all the other incoming first years? Even if the bump is granted to you, as other people have commented, it will most likely only be for a few/5 grand, and -- in return for that -- you're almost guaranteed that some of the people on the other end of that (bankers/HR) are going to think you're a dick for doing so.
I mean, I guess if you come from a really poor background and the extra 5 grand could be significant money to your family... I guess, maybe... but other than that, you really think it's a good look to say to your new employer, "You know what, the 150 grand you just agreed to pay me at 22 years old just isn't good enough."
P
I would imagine that if you do have as great of an experience as you say you do, that would be reflected in the type of job that you would be able to get. In that regard, it makes it seem as if ibd at a bb is an inferior occupation to roles that you have assumed in the past. If that is the case, don't take the role and let one of the other thousands of students take that place-- again, this is if you believe that your prior experience sets you up for a better role.
Fair enough, good points. And yes, I mentioned that if you come from a poor background, it's worth considering. But just doesn't seem worth creating the potential bad will for 5-10 grand (because you don't really think they're gonna pay you 40 grand more than your peers... do you?).
Also, let's say you do get that pay raise -- lot of added pressure to prove that you're worth the higher pay. You wanna put that higher pressure on yourself? Put the target on your back? Like others have said, just go in there, kick ass... and if you end up being a top bucket analyst, you'll then get your de facto raise at the end of the year.
delete.
can you delete/edit yours please? and thanks
When do people start negotiating salary? Do people negotiate PE offers?
If you have offers from other firms that pay better (EB's), and you did a good job with your current BB, I believe this place would be receptive to potentially increasing either your signing bonus or salary. I lateraled from a BB to an EB from SA to FT, and my SA BB firm was receptive to the fact that the base + signing bonus offered at the EB were higher.
However, the small $10-$15k increase may ultimately not be worth the negative consequences that may come with an ask like that.
thanks! did you only talk to HR about it or was your team involved after you asked?
A friend's BB analyst class in a particular group, starting full time right now/interns last summer, collectivized and all said they wouldn't sign offers if they didn't get a payraise. Ended up being some pretty insignificant amount (think it was like $5k?), but all received it. Friend said in hindsight it pissed a lot of people off.
thats crazy. I have never heard of an analyst class coming together like that. Good thing they all did bc imagine if a couple didnt end up trying to get a pay raise would look really bad for those who did
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