Can I Negotiate Salary for Probationary Period?
I got accepted as a new grad by a long-only fund the other day but I'm not sure if it's possible to negotiate for better salary terms during the "probationary period."
Even though it's supposed to be a post-grad full-time role, the first three to six months is more of like an internship, or probation, and after that they would decide if they want to sign the formal full-time contract with me.
As for the salary during that probation/internship, I was expecting an amount to not be too off from my previous internship salary at a BB (let's say it was $X per month). However, the monthly salary I will be receiving from this long-only fund's probationary period is said to be $0.7X.
Actually, during the interview, a junior PM said the probationary salary would probably be around $0.6X and asked if I think it's too low while emphasizing that if I pass the probationary period, the base salary can definitely be higher. I responded by saying that $0.6X was a bit lower than what I used to get from the BB internship. After that call, a senior PM wrote to me saying that they would like to extend an offer to me at $0.7X.
I am going to have another call with both the junior and senior PM, which is a chance for them to address any of my concerns. I'm just wondering if I can negotiate for the probationary salary to increase from $0.7X to $0.8X or $0.9X. If yes, what would be a nice way of saying this?
1 - I've also got a prob period but at a more senior level. Could negotiate.
2 - I don't think you should because the current hiring market is tough. You don't want to mess up with optics and add a red flag at this moment.
I wouldn’t unless you absolutely need the money to survive. You’ll lose 0.9 months of pay and negotiating for an additional 0.3-0.6 months seems pointless. If anything, negotiate for a higher base.
That said, is this a common practice to pay a discounted base? My firm - does not (Large LO).
Voluptatem nihil porro totam alias laudantium possimus quia. Nihil maiores molestiae nam sint impedit magni deserunt. Velit debitis et quia omnis.
Enim fuga vel praesentium rerum. Quo eos corrupti quia voluptates molestiae autem ut qui. Ab alias reiciendis non at non. Est nihil eaque exercitationem. Nesciunt odio iusto rem.
Harum et officiis voluptatum qui quae. Dolorem aut dicta iure totam quasi sed. Dolorum velit qui praesentium veniam ut fugiat. Non ipsa dolorem nemo ut magni et. Qui alias velit eos adipisci qui quis aut. Quidem eum recusandae cum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...