I just had first round of salary negotiation with JP morgan. How would you evaluate this offer? Title: VP (Wholesale Credit Risk Transformation) Base:130K Bonus: 20K (I know this is not certain) Location: Plano, TX YOE: 10
Given you’re in Texas where the COL is low that seems like a good offer
That’s a very decent offer for Risk and the location being in Texas. Would you get a sign on bonus?
Yes, but it’s peanuts (5K)
Is sign on bonus a thing? FUCK
YOE? Any chance for a referral. I’m at 1.5 YOE and make 115k TC.
Are you in TX? How much is your base salary?
I’m in Texas yeah. Cityline Area right off 75 and George Bush. Base is 101.
Very good for Texas. In NY they could go 5-10k higher.
I’m a 602 with a higher base (I’m in nyc), I know that COL is different from place to place but you definitely should be able to negotiate this up a fair bit
602 = Associate, 603 = VP
I’m 602 in NYC also, but with lower base than 130. What area of JPM are you in?
What division are you in where you’re an associate making more than $130k salary per year? Investment bank side I presume?
Private Bank and Commercial Bank Associates
Just to confirm, it’s a 603 job? I’d say that’s reasonable for the location and grade.
Yes! VP role
Not much room to negotiate. May be another 5k max if they really like you
Yea. Negotiate as much as you can. I know this group personally and definitely your salary increases and bonus in TX might not be great over the years. All subjective but best to make as much as you can up front right now. I made that mistake of not negotiating hard up front.
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That’s as best as u are gonna get.