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AlixPartners I am expecting an offer for VP in financial crime/compliance and risk. I need to give them my compensation expectation. Currently working in Bank with 7+ YOE including 6 yrs in Big4 non-MBA (Masters in Finance). What is the total comp (base+bonus) that I can ask for? What is the general sign on bonus? Thanks in advance
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Yes. IB/PE/HF/VC are still the most charted paths to 7 figure comp
Yeah, careers in finance such as PE/VC/IB are likely to get you faster to the kind of salaries you’re looking for.
That said, if you’re evaluating from purely financials point of view, then you need to also consider your cost of doing the MBA and opportunity cost of not earning for ~2 years. You also need to consider that not many people without any prior PE/VC experience get into PE/VC after an MBA. And use that expected value to evaluate your break-even point and resulting long-term financial benefit of doing the MBA.
I haven’t done the analysis for US b-schools, but from what I hear, costs can stack up to be prohibitive and returns for some cases may not be worth it.
If you do end up doing the analysis, worth sharing here for everyone’s benefit 😊👍🏼
Agree with everything you said, especially about value of US b schools for working in the US.
Related to that, one other factor to think about (not sure if relevant for you) : given the current political environment, there is a good chance that you are not able to continue working in the US after your MBA, so worth also factoring that into your calculations...
Yes, tech has great comp at lower levels, but it gets incredibly competitive if you want to break 400-500k TC. Finance has a much better path to 7 figure comp than just about anywhere, but it is still tough and the WLB will suck.
That’s what I’m seeing in high tech now and reassessing whether I should do b school because even in tech the folks breaking 500-700k comps have top 5 mbas. All 4 VPs in my department are top 3 mba grads.
I understand lifestyle difference, and variables involved, but keeping all that aside, strictly asking from $ perspective of the average trajectory of a high performer in these industries.