What is wrong with this picture?

I am an MBA, a CFA® Level III candidate, and have been working in ER for a year. My comp is 60k base. What the hell am I doing wrong? Am I in the twilight zone or is this even remotely normal sounding?

 

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?

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

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.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 
anjapower:
That was the reason I was given for the low comp....and that it is a privilege to work in this field.
I'm thinking flaming bag of poop on your boss's porch when you leave.
Get busy living
 
anjapower:
That was the reason I was given for the low comp....and that it is a privilege to work in this field.
Hahah fuck that shit. Start looking to move while youre still working.
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

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.

"I respect your courage for coming this far alone! However, you are still going to die!"
 

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

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
Best Response

it is low.. rmr that the real purpose of ER is to pull in business from banking and trading

in banking (esp mm), the bankers continuously pitch to mm companies for ipo, sell-side, other financing mandates and tout the fact they cover the company or their research analyst may potentially cover the company

in trading..well self-explanatory, the buy side talks to research and executes trades through the broker dealer

if its a low headcount, research driven investment bank that pulls in 1% economics on a couple of small to lower mid cap equity offerings and doesn't really provide any ancillary services, then pay is going to be low

most first year analysts in finance get 70K+ (at accounting firms, finance control, banking, research, s&t) so u are ridiculously underpaid as an experienced / MBA level hire

market right now is around $110k - $125k base + (conservative bonus prediction given lower profitability due to trading regulation) 25%-50% (of base) bonus

------------ I'm making it up as I go along.
 

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 I had asked people what they wanted, they would have said faster horses - Henry Ford
 

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.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

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.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

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.

 
anjapower:
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.
I interned in a situation like this [2 analysts=hell] and got the f*** out as soon as possible. They waved the "we want you to grow your career here" flag, but I wasn't biting. The one good thing about this is that wherever you move to will seem like heaven by comparison, but start looking now: 1 year is enough experience to justify looking for a lateral.
Get busy living
 
anjapower:
blastoise:
well if you only have 20% correct then you don't even deserve 60k
I have no clue what you're talking about...

Yeah what is he talking about? He thinks you're the lead analyst or something and wants to know how many good calls you've made? I don't think he knows how this shit works.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

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).

"It is hard to fail, but it is worse never to have tried to succeed." Theodore Roosevelt
 
anjapower:
Something Creative:
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).
Where are you located?

Do you want my SSN too?

j/k

I am on the West side, RA's are in NYC.

"It is hard to fail, but it is worse never to have tried to succeed." Theodore Roosevelt
 

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