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Citi - SVP Salary Expectations for Tech / Controls
Looking at some SVP roles for technology / controls in the Southwest region. Glassdoor indicates $185-240k as range base comp, and target of $185-205k for average base. Is that accurate?
Glassdoor also targets $40k for variable comp. average. Is that accurate?
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If you’d like to fund the sales reps college kids with all the commission he makes off a whole life policy, then hear him out. Sure he will also be happy to put you in some annuities and sell you a timeshare as well.
Seem like you’re doing pretty well and following simple personal finance principals. They are not in business to make you rich. They are in business to make themselves rich. Stay the f away.
And most definitely not getting a mutual fund
I go with a straight term life insurance plan. It is very simple and I like simple.
Pro
You may want to consider that PwC’s life insurance is tied to your employment at PwC. What happens if you don’t work here anymore?
Not saying you should buy what this particular person is selling but it’s good to consider insurance independent of your employment.
Yeah. There’s a chance I may leave next year so who knows if the other place I go to will have that same benefit.
Do I really need additional life insurance outside of the 10x salary? That’s over $1M.
Pro tip- get your life insurance from the AICPA.
Another point was to invest the money into a mutual fund instead of paying off our student loans (approximately 50K). I feel like it’s better for me to pay those off now instead of throwing in a fund that potentially could lose me money in next year with the volatile market and looming election.
You definitely don’t want that CFP. Your instincts are spot on. A positive rate arbitrage is not likely, particularly with significant capital risk. Student loan interest rate 5%, mutual fund income needs to be more than that after tax.
Maybe look into term life insurance it’s cheap and won’t be tied to your employer.
If you are an AICPA member I’ve yet to find someone who doesn’t think their term life is a good deal. Rates are low plus a 50 % annual refund each year. Check it out.
Rising Star
If you need more life insurance (or after you leave PWC), going through AICPA is usually the most cost effective and best option.