How much do IB firms pay for financial analyst or associate roles in Mumbai, India? One of my friends works in JP Morgan as Senior Analyst and is looking for a change. He is wondering which firms pay good in Mumbai? His TC : 12 Yoe in Finance : 3.5
Almost all big IBs which are there in Mumbai (JPMC, Morgan Stanley, UBS), pay in similar range. The difference will be mostly based on interview performance and level. Your friend should set up interviews at all these big IBs and then negotiate/decide. Also, your friend should target for Associate level at his YoE, so that'll be a significant jump to his current TC.
Any idea how much does Associate level pay at around his yoe? I think he mentioned he is expecting Associate promotion in JP Morgn itself later this year. He probably switch after that.
I don't know exact figures. Some of my friends went to UBS Mumbai, as SWEs though. So, the thing, unfortunately, is that most companies in India will ask for current salary (payslips), once the candidate is hired. Then, they will give a standard 20-25% hike based on that as the initial offer, if the level is same and both the companies (old and new) are similar.
Isn't the deal cut the major part of the earnings for Investment bankers?
Not sure how you can compare. The two COL is very different, currency is different, work is probably different. Not apples to apples
Isn't the friend already in Mumbai and looking for a switch in Mumbai?
@barclays I think you misunderstood. He is already working in Mumbai. And wants to know about salaries in Mumbai itself