#SalaryNegotiationTips: How to Strategically Negotiate Your Salary Offer at a Boutique Investment Bank in LA 🌟
Hey there! So you’ve been offered a 45k salary at a boutique investment bank in LA, but you’re not sure if it’s the right move considering the ongoing deals that haven’t closed in years and the limited number of full-time employees. Don’t worry, I’ve got some actionable advice for you to make an informed decision and potentially negotiate a better offer.
## Evaluate the Offer and Company Situation 🧐
First things first, assess the current situation at the company. If there are ongoing deals that haven’t closed in years and only 3 full-time employees, you may want to consider the stability and growth potential of the firm before accepting the offer.
– Research the company’s financial health and track record with closing deals 📊
– Consider the potential for career growth and advancement within the organization 🚀
– Evaluate the company culture and work-life balance to ensure it aligns with your values and preferences 🏢
## Gather Market Data and Salary Insights 💡
It’s essential to have a clear understanding of the market salary range for similar positions in the industry. This will help you negotiate a fair and competitive salary that reflects your skills and experience.
– Research salary data on platforms like Glassdoor, Payscale, and LinkedIn 💻
– Reach out to industry professionals or recruiters for insights on typical salary ranges in the field 🤝
– Consider your unique skills, qualifications, and experience when determining your worth in the market 🔍
## Develop a Negotiation Strategy 🤝
Once you have gathered all the necessary information, it’s time to develop a negotiation strategy that highlights your value and aligns with the company’s needs and goals.
– Highlight your achievements, skills, and experience that make you a valuable asset to the company 🌟
– Clearly articulate your salary expectations based on market data and your personal worth 💰
– Be prepared to negotiate other aspects of the offer, such as benefits, bonus structure, or flexible work arrangements, if the base salary is non-negotiable 💬
## Seek Professional Advice and Support 🤓
If you’re feeling uncertain or overwhelmed about negotiating your salary offer, consider seeking advice from a career coach, mentor, or HR professional. They can provide valuable insights and guidance to support you through the negotiation process.
Remember, it’s essential to approach salary negotiations with confidence and a clear understanding of your worth in the market. By following these actionable steps and considering the unique insights and recommendations provided, you can make an informed decision about the offer and potentially secure a better salary package that aligns with your career goals and aspirations. Good luck! 🍀🌟
What firm so I can stay away?
Why is LA pay such garbage compared to COL. Regardless that’s robbery. If you’re desperate maybe take it and keep looking in this market but are you sure that’s an IB analyst position? If so, that’s an absolutely criminal salary especially for the area
Depending on your circumstances it could be a lot better to not take it if you’re not really desperate to break in
That is not a boutique investment bank lol, that’s 3 guys in an office.
45k
Boutique investment bank
Huh?
I wouldn’t take it. Cost of living is extremely high
Unless there is some insane over 100% bonus structure then that salary is ridiculously low. Given that they have 5 deals in deal purgatory I wouldn’t be that excited about any potential bonus either.
In the LMM your MDs need to think like investors. What deals are viable, will close, and produce enough fees for the firm. The bank is essentially taking a phantom equity position in the company so, if the deal never closes you don’t get paid the big bucks.
This is going against the grain but if you want to break into IB from something else and can afford this (big if there), it’s worth doing.
My assumption is that the bonus structure is 100%+ as that is the case at many boutiques, but that’s not even the point – it is very easy to lateral from small to other small / mid sized / even large banks from small or tiny banks after a year. There is always demand for bankers with some experience. There is not always demand for people lateraling into IB from some other industry (as is the case now in this market).
Edit: ppl downvoting me don’t understand how hard it is to break into banking
That’s not an investment bank.
This would have been a great starting salary for IB in the 80s
for 45k you’ll straight up need a defined % of the fees
I interned and then worked FT at a similar shop (though I also got a small cut of deal fees if they closed) before lateraling for ~4x comp. Took 1 year of FT experience. If you can live on the 45k it would be a solid way to break in IF you are at least executing deals. That said, juniors pump pitches as deals on their resume all the time. Just need to be able to discuss your “transactions” well in interviews.
Of course you could go big4 FDD/valuation or something to make a bit more, but moving to a banking job would be harder than if you had experience at the boutique.
Name and shame
yo that is booooooootique 💅
let me guess – they are telling you that you have to earn it and grind to get your shot at the big leagues like it is 1985 still.
Not worth it.
What’s the second best offer? It’s kind of a crap offer but any offer is better than no offer.
Boutique bank pay can vary wildly. Don’t work there.
I think its an actual boutique, like a store.
How big are the deals? I don’t know for sure but you’re probably talking about a business broker not a boutique IB. Are they licensed by FINRA?
trash
Reasonable salary for a cleaner in LA I guess
This sounds like a start up, can they offer you a crazy bonus or equity if they can only pay you 45k …. I mean that’s a terrible salary
” boutique” in this context does not apply
Without giving much away, im 99% sure which bank you’re talking about. Private message me if you want to confirm and I can give you a lot of info about them.
Run
Bro got a job at Stratton Oakmount
45k year????