What is wrong with this picture?

Time to start looking for a lateral out......

That would fall within the range for first year base from UG (if we consider the broad range of places out there) , but seeing as you have your MBA and you're chartered you have to dig deeper.

So answer some of these questions... MBA from where? What region do you work in? What type of firm do you work at? Do you have any previous industry experience?

Apologies for being a bit cryptic, erring on the side of caution.

I had a bit over four years of pre-MBA work experience as an accountant, no industry experience. I work at a MM bank in Boston. I went to a top 30 b school that is very well regarded for finance.

I'd say area of finance might have more to do with it. Asset Management firms really like the CFA and certain ones perfer the CFA to an MBA.

Go where you're valued more. Managers at Walmart make more than that, same for a lot of F500 finance people.

Unless your bonus is nuts.

Are your peers getting paid that? How well regarded is your analyst?

I'd start looking elsewhere and jump ship asap, dude.

The analyst is considered one of the best in the space. Hard to say what my peers do since I'm the only associate at the firm.

I agree, this is stupid. You are in Boston, you're a grown man probably getting closer to age 30 by now; that compensation is pathetic. Start networking your ass off. If they can't keep you, they should already know why.

edit: not sure if hiring has picked up in ER/equities/etc since the past couple years. Somebody else could chime in in that regard.

Hmm...I give up. That's definitely low...If you just cleared L3 in June, I would wait until you get your check (in February?) and find out if they'll change anything. If you don't want to wait, start looking for somewhere to move or act somehow.

EDIT

Didn't see the previous posts. If your analyst is one of the best in that sector and your firm is considered solid...there is no reason as to why you're being compensated that way. I agree with the above posters. Start networking and looking for where you will be better appreciated. I think I would still wait for the check though...That's just me.

To give readers perspective, what would be a "good" salary for a person in the OP's situation?

100 base + 60-100 bonus

In Boston?! At a MM bank?

I just cleared level II and signed up for level III. I've been hinted at a 20-25k bonus but it is just tough to make ends meet with student loans and rent. Was eager to make the career switch into the industry and got porked for it.

Ugh. Worst luck ever.

You need to move.

Isn't the OP just lucky to have a job in this market?

That was the reason I was given for the low comp....and that it is a privilege to work in this field.

Did I mention I cover 33 names? My earnings season is brutality.

What is your bonus?

I know a couple guys in ER working for shitty salary but getting 150%-200% bonus. So it can make a huge difference.

Not surprised. For the most part, sell-side research does not pull in alot of money unless it's a BB, if you're working for a low-tiered boutique, that would explain alot.

Damn, now that's a shitty situation. Best of luck man, jumping ship will probably be best. And fuck your analyst, if he's an II-ranked analyst he's probably making close to 7 figures at least

Nice. SB

I don't mean to be a dick but you'd Make more at a F500 in a first year analyst rotational program...even without a bonus.

You're making literally a third of what you could/should be.

If you work at State Street, there is your reason why.

Haha, not at State Street. I don't think they have an ER arm.

This sh*t must be real depressing to think about during earnings season...especially when you're covering those 33 stocks and have 4+ companies reporting at once. Hope you figure it all out and get properly rewarded soon.

You nailed it man. Have 5 reporting tonight. This is just straight up wrong and super demoralizing to say the least.

From what I heard, 30+ stocks is a relatively large coverage. I can only think of the REIT team at my bank that covers that many names.

That is possibly what is most frustrating as there is just far too much going on, especially considering that I'm covering two rather disparate universes (2 analysts). So my rate of compensation increases is tied to how much industry or company knowledge I possess and my ramp is horribly elongated because of the sheer number under coverage. It is as if the associate is destined to fail here by design.

Get out now. I work at a MM bank and our associates in ER definitely get paid much more than that. Hell, the base analyst pay here is 66k now. I would get out if I were you; several of our ER associates have moved on to solid buyside jobs in NYC.

Well how good are you OP what is your % correct vs % wrong?

Don't leave without bringing this up to your analyst first. Lay out to him your concerns and frustrations and ask him to go to bat for you. If nothing changes, then he can't fault you when you leave. It's very important to keep a close relationship with that analyst because his positive (or negative) reference is very important.

I've brought it up to the analyst. He really didn't have much to say besides that it will (slowly) go up, and this bank just pays 40% lower than average.

well if you only have 20% correct then you don't even deserve 60k

ok where do you see the gdp of the usa going in 3 quarters

what if he is good he should be able to predict it with in 15% of error

I can tell you that a Research Associate at my place has a range of 120-150 base. I don't know what their bonus is though. I think you should leave as soon as you can and also think that an experienced person can move in ER pretty easy right now (comparatively).