Hey All,
Just received an offer from a small Asset Management shop in the mid-Atlantic region:
The shop runs quite lean--2 PMs, 2 client managers, and a compliance officer. I'd be working primarily with the PMs to develop portfolios, identify and quantify portfolio risk, complete some ad-hoc reporting, and generate / monitor trade ideas.
The PM told me to propose a number for salary... any thoughts on where to begin? It is hard to find numbers of boutique shops--most of the numbers I have seen are sell-side ER, or commissioned-based client management roles. This is truly a research type role where I will have limited client interaction.
Thanks
Need more information... Approximately how much AuM do they have? Is the firm located in a high cost of living city? Are you graduating from undergrad or MBA? Approximately how well ranked is your business program? Top 10? Top 20? etc. Do you have any experience in equity research?
I wouldn't put the first number out there. Also, I have seen numbers that vary from 80-200k all in for 1 man bands.
My favorite line, "I trust that you'll offer something that's market competitive."
I would actually take the initiative and make the first offer. The anchoring effect can be quite powerful.
In my experience, small shops will always try to low ball you and promise "we'll take care of you down the road when we grow." A lot of these shops also genuinely have no idea how much to pay an entry level person. If you let them throw out the first number you are very likely to be disappointed and they are unlikely to go significantly higher.
The range is only that wide because it varies with candidates' qualifications. This is one of the reasons that MBA comp stats look ridiculously wide. If you looked at a homogeneous group of candidates the range would be +/- 15%.
I'd put out a number that is 10-20% higher than what I'd be happy with and go from there, assuming there is some type of bonus/upside beyond the base.
Sed est nulla omnis sapiente odio et. Nihil ea quis dolorem aut quis dolores aperiam est. Quidem quis officia est sunt.
Qui aut eum ullam alias porro. Et voluptate laboriosam atque omnis qui quos sint. Corporis facere atque consequatur voluptatum et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quis expedita voluptas velit officia. Laborum dolorem amet et enim ducimus adipisci dolor nam. Ut dicta quaerat minus consequuntur rerum ut provident. Ad neque ipsam totam aut impedit quia. Deserunt et tenetur impedit nostrum numquam fugit molestiae. Odio quidem sequi consequuntur vel nihil. Sit cumque et et.
Cupiditate qui molestias facilis soluta nobis in et. Ut recusandae consequatur cum ut deleniti. Fuga voluptatem expedita cupiditate ut rem nostrum. Corporis non tenetur sapiente maxime libero. Dolorum quia et ex cumque. Veniam exercitationem non velit pariatur.
Nostrum cumque quam nobis dolorum repellat inventore assumenda. Fuga dignissimos sint eligendi eveniet officia. Fuga vel quidem doloribus voluptas. Deserunt amet et sit sapiente et rem vero.
Distinctio inventore enim molestiae nostrum. Odit sed hic ad esse et animi rerum quia.