I’m a business analyst L2 at a fin tech company in Miami. I have about 5.5 years experience. My base is 75K and bonus is about 10%. I suspect I may be underpaid but not sure. Before this job my experience was not directly in business analysis but transferable financial experience. My title is business analysis but I’m doing more consulting and implementation work than a true SDLC business analysis type role. What do you think? Am I underpaid? And if so, by how much?

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I would say that your compensation sounds about right for an entry-level business analyst position, and based on your "title" it doesn't sound unreasonable. However, given that you do have 5.5 years of experience and it seems like you're in a more consulting-type role, I'd say your probably underpaid by about 15-20%. If I were you, I'd do a lot of market research on compensation data for "business analyst" or even "consulting analyst" salaries with 5-6 YOE, and go back to your company with the data explaining your position. Be prepared to back it up with your accomplishments and why your work makes you worth a raise. Good luck!

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You are extremely underpaid for 5 years of experience. Big 4 consulting firms offer 75-85 to undergrad analysts.

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Miami cost of living is probably 15 to 20% less than NY or SF so not sure if those are comparable. Do those figures apply to Miami?

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Not sure if you were responding to me or not but those figures are for Atlanta.

What kind of a fin tech company are we talking about here? Not all companies pay like IB, MBB, FAANG and the big accounting firms. The question may not be whether you are underpaid at your “current company” (for all we know could have awesome WLB, culture, but doesn’t pay well), but rather how much do you value comp, and what’s the upside if you can get into a top tier company.

If you think you are underpaid in your company, relative to market and to your peers, then if your manager is supportive maybe there are some room for some improvements. But I’ve rarely seen more than 10%~15% being added (per year) even for situation where the person is severely underpaid than our internal benchmark. And that’s if the person is performing well and we want to bring their pay inline with others. If you think your company just doesn’t pay well overall despite all the good things about it, I think looking outside is the only option.

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