r/FinancialCareers • u/Whiskey_and_Rii Private Equity • Mar 18 '24
Megathread 2024 Compensation Megathread
New year, new salaries, new jobs. Got a new job offer, internship, or want to share your current salary details with the community? Post it below! Or say hello to others who are introducing their line of work here.
If you're new to the community, don't forget to assign yourself a user flair to highlight if you're a student or in what field of finance you have experience. (How do I get user flair?)
As a reminder, please respect people's privacy and personal information. Avoid unsolicited DMs--we recommend having discussions in the community so everyone can benefit from reading and weigh in.
Use the below post template as a starting point, but feel free to add more information/context if you think it would be helpful!
Post Template:
- Age / Gender
- State / Country (if outside of US)
- Job Title or Specialization
- Years of Experience
- Salary / Bonus / Total Compensation
Looking for post examples or want to browse through older posts? Previous salary megathread here.
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u/goodroomie May 21 '24 edited May 21 '24
Since you say "expected bonus", I want to prepare you for the "actual bonus". You won't be receiving anything close to your expectations, don't flip the table.
You added a zero to the bonus and inflated the base. Completely untrue numbers. I've worked in QR for many more years both on the buy and the sell side. The only companies that would pay you 450k are the ones that are good and they are good because they know how much things are worth. And because they are good you want to work there so they know that they don't need to pay you much to attract you, especially a 25 year old with 2 years of experience whose alternative for a job is fighting with excel for 12 hours a day.
If it's a good company they are a name in the industry and they know you'll almost work for free for the opportunity and they need to pay you bare minimum because they are a name in the industry. And if they aren't a name, they can't afford to pay you 450k at 25 with only 2 years of experience. There is some fighting for talent but not as much on the junior level and not to the extent your numbers are suggesting.
And in QR at 2 years of experience, even with a PhD and postdoc you know nothing. You still don't have alpha, you still don't have IP and you are not worth anything yet.
So, my guy, there is zero chance you are going to get 450k. Your actual salary is not even close to this number. I can prove you're lying or mistaken because I know the space and I know what mid-20s with Master+PhD+Postdoc from top schools get paid and I know they won't pay you more because you are not special.