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Some switch at flat. Would think you're switching for the seat / role - not for the incremental pay increase. An analyst or associate won't get more than 20k to switch. That's not much in the grand scheme of things. You're not going to get paid a lot in a move unless you're a VP or above.
Agree with Citi 1. It's all about the role and how quickly it gets you to the next level. For example, I'd switch at flat if my projections are telling me I'll be 100k higher than my current path in 5 years.
During the interviewing process you should be asking questions and getting a feel for the career progression. Switching to a team that gets you to VP 3 years earlier than your current track makes sense at the same pay. But you have to really get a good feel for that. At a young age it's all about learning and ramping up.
I took an analyst role at a fund and am making almost double what I was making as an associate at MS. So yeah, who gives a shit about titles
I see a lot of mumbo jumbo in these answers. Bottom line, if you're gonna move then I'd be thinking at least 20%
Lateral internal moves don't come with salary increase...
thanks guys! I ended up taking the offer! I'm outtie!
Depends what firm.
Average?
Citi 2 agreed but, how do you know your projections are right I guess that's the root of everyone's question in that regard
Ms2 I'm not saying title matters at all, it varies firm by firm anyway, but to your point you're making almost double. How did you negotiate that? Are you really just "that good" at your job? How would they even know that anyway? Or was it negotiated?
I didn't negotiate it...HFs just pay more than large institutions. But yeah as a general rule ask for 20-25%, expect less.
Really cause I'm pretty sure any firm you currently work at would match 20%
The question was relating to switching firms. Have you switched? Same role/different place/what was the % bump?
Yes. Different firm, different role (diff division and lower title), 60% increase
Okay see Im thinking that kind of salary bump would get me to move regardless of if my current employer matched (unlikely at that point) mostly because at that point you've played all of your cards and likely have more future upside at the next firm
What'd you get!?
Congrats! What kind of increase? Moving from what to what?
20% increase it was a hard negotiation but I manage to convince them.
And citi wouldn't match???