Why am I getting lowball job offers? In New York City Finance
I graduated from a top university with a double major in related fields. Statistically speaking, the average starting salary from my school is 50k a year. I applied to lots of jobs but when I hear back, they always give me a lowball job offer like $15/hour, $18/hour or salary from $30-$40k a year? What gives? Do employers think fresh college graduates will work for cheap? I am from NY btw.
What are the kinds of jobs?
Analyst positions entry level
every college grad is an entry level analyst these days... what part of finance? not sure why you're being offered an hourly salary for FT, even for a F500
Why should a company pay someone who is fresh from college with really nothing to offer.
Keep you head down, know your worth, negotiate respectfully, accept an offer with the most promising company and pay your dues.
hmm top 15 school, as an intern im getting about 30$/hr
This happened to me too when applying to new jobs. My school average is 60k but, honestly, that number doesn't mean anything. It all depends on the work you will be doing, the hours, and the size of the employer.
Look beyond the money aspect, if it will put you one step closer to your career of choice and give you applicable skills why not take it? Assuming you can afford to live on that amount.
Ok, I just noticed this in your signature:
"How is my grammar? Drop me a note with any errors you see!"
Pretty fucking funny.
Can't live off of that in NY. Good lord
I did, while making 38k out of undergrad
Sounds to me like you are applying to jobs that are below average for graduates of your school.
Go to the Big 4. Fresh grads with 0 knowledge make 70,000 a year.
After getting my Big 4 CF offer this morning, this couldn't be further from the truth.
Right, corporate finance is a bit different.
mostly bval
How do you compare to peers from your university? Statistically speaking, if you're below average, it'd explain the 10-20k salary hit.
$30 - $40k does sound pretty low.
But for a small company, hiring someone is a huge investment, and they really can't afford you to "not work out" as an employee. In my experience many of these firms do lowball you initially, but if you take the offer and bust your ass, demonstrating your worth, you should see your total comp grow quite quickly.
I got an offer from a state with a much lower cost of living for $70k and I haven't even graduated yet. I said that I'm actually looking for offers between $100k-$120k and she said she'll speak with her manager to determine what career options she can find for me. Keep in mind I didn't graduate from a top university.
NEGOTIATE. It kills me how many men are out there that won't even engage in this. Lowballing is part of negotiation.
I'd tell you to go fuck yourself, but that's just me. Hope you get it though.
Negotiating only works if you are in a position of strength, meaning there are less graduates than positions available. If it's a structured entry level role often times you will have limited leeway to negotiate in this manner.
Petroleum Engineers in the past down years who graduated as oil was rising could have upwards of 10-11 offers when they graduated.
At that point you can pretty much demand what you want.
Starting out at a small boutique in research I was certainly lowballed but not like that. When I think of lowball on entry level associate/analyst positions in ER I think $70K plus like a $15K bonus, not $30K-$40K. If you're referring to IBD then it becomes even more puzzling. Can you please share with us the actual job title? There's paying your dues and there is outright ridiculous, the figures you're citing seem to be the latter not the former.
For most entry level roles, accept the one that can give you the best opportunity for future advancements. You should negotiate a raise after 1-2 years at the firm, though.
Prove your worth.
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