Hey all, I am in discussions with my employer regarding my comp and I wanted to see if anyone in the community has a similar role or general thoughts regarding comp for this kind of role.
I work for an investment advisor for HNW, endowments, and foundations as a research analyst covering private equity managers. I basically cover our existing managers, screen new managers, and make recommendations to add managers to our approved list. My current comp (inclusive of bonus) is 105k (based in NYC). Anyone have any useful feedback?
Geez man, if you have at least 4 years experience, hold a CFA charter and live in the city? That seems like peanuts. I live in FL and I’m not getting off my couch for less than 6 figures tbh. Especially with tight labor supply and wage growth coming soon. I would be actively looking if I were you, before we complete this late expansion cycle.
I had a similar role but not in NYC. At the time did not have CFA (yet, just 2 levels passed), had 3-4 years of experience. Think I was making all in $95k. But again, not NYC.
You are a Charterholder in NYC, I would think you could command a bit more, but don’t get greedy unless you can quantify if any of your specific choices have made the firm more money. After working at it for years I decided that job is more luck than skill, which is why I busted out of there as soon as I got my charter.
Oh and I “survived” in NYC on $55k salary 10 years ago (not sure what the rents are now). Lived in LIC, right across from east midtown.
NYC ain’t THAT bad if you live 40-60 min away in either NJ or Harlem, Queens, Bronx, Brooklyn, or any surrounding areas…The cost of living in these areas is no different than living in any large cities in the US - SF, LA, Seattle, Miami, Boston, Chicago, etc.
OP, you are fund of fund analyst. One of my neighbors when I lived in UWS was an Equity Portfolio Manager for Russell. He said he was fund of funds equity manager. Glassdoor says these guys make around $300k and this is plausible considering he lived in UWS and our building is a condo building.
Your ALL IN $105k with 4 years of experience does seem in line because you are working for HNWI oriented investment advisor whereas my neighbor worked for a “global” firm and his clients are institutional and he is a PM.
Chicago cheaper than cities surrounding Manhattan? Cities in NJ where 2 bedrooms can be had for $650k and 50 minute commute to midtown?
Had a colleague who commuted from NJ’s “Gold Coast” and his rent was around $2200 for 1 bedroom. You can get something very similar in price (although might lack in other amenities) in Harlem, Bronx, Queens…
Comparison is whack. Most of those cities also have very expensive areas that don’t compare to Bronx. Just does not make sense, but the comparison also does not matter for what you’re saying: NYC can be affordable.