Dream role but Low Comp
How would you react if a process went well and a new firm knew your comp and came back fast that they wanted you but offered 30% less than your current comp?
Is it even worth negotiating at that point?
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If your other option is to not accept the offer, what do you have to lose by telling them what number you're looking for? It could be too that if they know your current comp (why is that?), they are offering you 30% less so that you will counter with a match and they will accept, all to deter you from asking for a raise.
Obviously you have to add into the mix the future implications of the fact that they offered you so little- if this will happen with every promo or every time you are ready for a promo. But if your alternative is just to walk, might as well counter with the number that will get things over the goal line.
Corp_titan
They unfortunately know bc when I said market they pushed and I wanted to get it out there bc I knew I’d be at the high end of their range. I will go back with that but I am concerned kind of to your point that they knew my number and still lowballed me
Bump anyone else?
What kind of message do you think it sends about the firms if they offered you 30% less than your current compensation?
What else appeals to you about the firm? If your future compensation could be 50% in a year then probably worth it. But if you’re gonna be more or less stuck at that figure…
What appeals to me is they have a dedicate allocation to my strategy and a decent shot at becoming a PM in a couple years. Unfortunately I don’t know what the bump I pay would be then
At current shop strategy has been shrinking and 0 chance of becoming PM. Should be able to keep it going a few more years and well regarded so think I’d be offered other roles.
Are there any relevant considerations like location, culture, etc?
Job market isn’t great right now but it’ll likely get better in a year so there’s that.
It really comes down if you’ll be at peace with make a bit less. But if you do commit there, you should presume to stay for several years to make PM — otherwise I wouldn’t move. Candidly I wouldn’t move because that’s a huge pay cut but maybe I’m just a vampire
Assume everything else is basically the same.
im kind of with you bc even with the differing trajectories i have gotten many signals of being highly valued at current role (comp, feedback, internal leadership opportunities) vs no guarantee of making PM in the other role.
I have been competitive in other processes in other geographical areas (don’t want to move if I don’t have to but would) so feel like why give away a ton in comp on this perceived trajectory difference.
Last call-
has anyone had any positive experiences where you closed the pay gap materially from initial offer vs. current comp and it worked medium term?
i.e not capping future promotions, unrealistic expectations bc they “paid up” for you, resentment for you being higher comp etc
Nobody would move for a pay cut given that it is usually last in, first out.
Thank you.
what discount do you think it is worth to get a dramatic increase in chances of becoming a PM in a few year- let’s say from 5-10% to say 60-65%?
and I know hard to incorporate but also to shift from a shrinking allocation to your strategy to a stable allocation (I.e double AUM)? Obviously dependent on PM comp so maybe worth figuring out but assume higher
i.e to double aum in your strategy and increase chances of becoming a pm in a few years by ~50% what kind of discount would people take? 30% feels like too much, but flat seems like a no brainer trade so I guess equilibrium is somewhere in between? Any flaws in this logic
MarcBahamas; Corp_titan TheOneToRuleThemAll
Sorry for spamming but in a bit of a negotiation time crunch so wanted to see if any final thoughts from anyone
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