How’s the life and pay in Blackrock?

Snapchat uOkV57
Apr 30 12 Comments

As asked in title.

A friend of mine (non-tech background, Finance degree) got an offer for analyst position from Blackrock. He’s fresh out of college and has one intern experience.

The offer he told me sounds super low-ball to me: the base is $65k which sounds resoundingly low from my perspective. No sign-on, no relocation, no guaranteed bonus (perf-based). And there’s also no base adjustment for different location. His preferred location is in West coast.

I’m probably spoiled by tech companies these days and also I am not familiar with the non-tech world, but does this offer sound reasonable? To me this is such a rip-off, what do you think?

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TOP 12 Comments
  • New NcEf26
    Black rock is having a tough time, ETFs are a race to the bottom. It’s a bad area to be in the financial sector, but within finance, blackrock is a prestigious firm that’s at the top of its game. Probably better places to work
    May 1 3
    • Snapchat uOkV57
      OP
      Thanks for the info, my friend has another offer from Geico which to me sounds equally bad if not worse, but I guess Blackrock sounds like a better brand?
      May 1
    • New NcEf26
      Blackrock has some good big data, real time streaming, large Cassandra cluster etc. The Aladdin group is good to work in there. No idea about geico, blackrock is definitely better. But could be team dependent
      May 1
    • Snapchat uOkV57
      OP
      The tech stack seems good, I’m not sure if he’ll work on the tech aspect or just doing excel work though, hope he finds it interesting either way
      May 1
  • New / Ops
    tooQ10

    New Ops

    PRE
    Rakuten USA
    tooQ10more
    Pretty standard in finance, and his hours will be long. SWEs are on another level TC wise.
    May 1 2
    • Snapchat uOkV57
      OP
      Just curious: What’s the range that counts as long hour in Finance? I feel in tech 40-50 is standard but more than sounds long to me.
      May 1
    • New / Ops
      tooQ10

      New Ops

      PRE
      Rakuten USA
      tooQ10more
      In finance 50-70 is normal but more than that is often demanded.
      May 1
  • Uber / Eng WdAd24
    Fresh grad out of college for tech in BlackRock is 100k base plus ~10% bonus. For finance positions, unless it is for investment teams (teams directly manage portfolios etc. Given the 65k number i don't think your friend is in one of those), bonus is like 20 - 50% and that's it.
    Obviously that is for junior level positions, if anyone made it to MD, total income could be several millions. But I guess you will be at your 40s or 50s at that time.
    May 1 3
    • Snapchat uOkV57
      OP
      Thanks for the info, that’s pretty insightful! I’m not sure about the team specification but I’ll ask him. Mind if I ask what would be the expected salary for analyst in investment team? Even the tech role sounds low-ish to me, baseline offer in major tech companies can easily beat that.
      May 1
    • Uber / Eng WdAd24
      Bonus in investment teams could be as high as 150% in good years (or 20% in bad years...), just the same as any other quant hedge funds. So the risk is high
      May 1
    • Snapchat uOkV57
      OP
      Sorry I’m confused but what do you mean by risk? If base is the same for both non-investment and investment team but one has bonus ranging from 20-50% while the other has bonus ranging from 20-150%...that sounds like no brainer right?
      May 1
  • Deloitte broadway74
    Go with black rock for the prestige. Also $65k is not low starting non tech. Aren’t they in Texas too where cost of living is low
    May 1 0