I am currently in process for a Senior Associate technical position at JPMorgan Chase. They quoted me a base of $130-140k and bonus of $20-30k for a TC of $160-170k. No stock options were brought up, which is an unusual for a technical position, if not surprising for a junior position at a large bank.
My question: how flexible are the salary ranges? I have direct experience in the role, which the hiring manager said most candidates don’t have since it’s a niche topic.
Salary ranges are pretty strict unless you negotiate level I/II/III, but most companies have not been paying their bonuses or giving 1-3%. If you can negotiate your base higher don’t hesitate
So in other words, try to leverage the salary with another offer or ask if they can change the title to match the pay. It just depends what you ultimately want. JPM and Morgan Stanley pay on the lower end because of their name as a foot in door. Banks like TD pay higher.
JPM doesnt give stocks to VPs and below. Bonus is not guaranteed after first year and 401k match starts after 1 year but is cut if base is 250k and above. So in generally, much lower comp and benefits compared to a tech company. They think they compensate people with the brand name lol.
Interesting. Have you heard of them doing signing bonuses below VP level?
This is reasonable for sr associate level even if it’s technical data analysis or quant. It even seems bit high for JP
JPM is a bank not a Tech company. Can’t be compared.
Equity is usually found in tech companies and startups, but not so much for Banks and the financial industry. I would try to negotiate for a higher base rate and focus less on the bonus or equity. Bonus is only guaranteed if the bank execs think they've made enough money that year. You're much better off focusing on the guaranteed side of the TC calculation. But 130-140k for technical role is pretty good unless you're in NYC. In NYC specifically I'd ask for 10-20k more base, otherwise you're right around the ballpark for Senior Technical roles.
Depends on your location. If you’re in a hub location like FL, TX, other - then that’s a pretty accurate range for an individual contributor. If you’re in NYC or CA - maybe you could get some more base.
Which location?