Morgan Stanley - AVP salary range for NY and Atlanta
I’ve an offer in hand which is going to give me 161.5K in hand (after tax) - including base, benefits. It’s a fully remote job so I also save on travel time. Plus 40K in joining bonus (which I’ll have to return if I leave within one year). Note: I’ve used smartasset.com for tax calculations. I’ve worked as a consultant at Morgan Stanley for last 2 years. They like my work and are willing to hire me directly at Morgan. My director asked me the numbers I’m making and I was honest to him. He said he will be able to match it plus he can allow me to work either from NY (with NY rates) or Atlanta. I was doing some math this weekend. It seems like I’ll need 230k in Atlanta and 252K in NY/NJ (240K plus additional 12K for higher rent) to get to 161K in hand (after tax). Now to these numbers, I added 35K extra for letting my remote job go. Final number I came up with were as below to be open to join Morgan, Atlanta: 265K minus 401K match of 4% (about 10K) = 255K (plus 40K in joining bonus) NY: 285K minus 401K match of 4% (about 10K) = 275K (plus 40K in joining bonus) Morgan has told I can work as AVP for a year or two and then will be made VP. My question is, will Morgan be able to pay as per final numbers for AVP position? If they don’t pay that much, I wouldn’t want to burn bridges by negotiating with my director. Looking at Glassdoor, it doesn’t seem like they will be able to give me what I need. What is the max can Morgan pay at AVP and VP levels on the tech side? Pls help me learn what is the max salary range for AVP and VP level at Morgan Stanley (tech side). Thanks for your help! YOE: 10 years plus masters in Information Systems. #AVP #finance #salarynegotiation #morganstanley
Depends how much pull your director has, I’ve been offer multiple level up to match an offer before.
True that. Do you know what’s Morgan’s max salary range for AVP?
I don’t believe you’ll burn any bridges by negotiating with your director. It’s definitely worth a shot. If they really like you’re work, I think you have a chance
Ok sure, let me try negotiating with him and hope that I don’t burn bridges. I’m still debating if for that additional 35k I should let remote position go.
Don't count your 401K match as benefit. They don't vest if you leave a day before your 3 year 1 month. So add extra 10K to that negotiating number. Also unless your director has pulls, that seems pretty high for Morgan. I'd go with the remote option and try to negotiate with them for higher pay.
Good to know on 3 years vesting period for 401K match. I didn’t know that at all. Is that true for all companies or just Morgan? So did you mean I should go with the remote option and then from outside try to negotiate with them for VP and higher pay? I understand it’s business but I hope my director wouldn’t feel bad for me to negotiate with him on money after working with his team for 2 years as consultant.
Most financial companies in NY. JPM+Morgan Stanley both have 3 years vesting for 401K which is kinda weird. Tech companies' 401K match vests every month. Negotiate with your remote position for higher pay saying your current job willing to beat their offer (if you haven't negotiated already). It'd be a good data point to know what the remote company is. But purely pay wise, it seems like the better option. Does Morgan Stanley bring more value to you in some other ways? Like visa sponsor etc? Honestly VP in financial companies is easy and in return you don't even get RSU or ESPP.
Highly unlikely theyll match but worth a shot in going thru negotiations. Won’t be burning any bridge
I also think it’s not likely for director to pay me so much. He had agreed for 200k immediately on call but when I asked him by what % can he beat the offer, not just match, he asked time to think about that.
10 years + Masters for AVP? I know people 2 years out of undergrad in AVP roles. Ask for VP
Thanks for passing the words. Will try asking for VP position. He told me he can make me VP in 2 years here at Morgan too. Should I focus more on money or position? I thought if I’m getting paid what I want, shouldn’t matter if it’s AVP or VP. Does it matter much? I understand VP and above is officer level positions but the bigger the position, the more pressure it would bring.
If you are getting paid the same I wouldn’t worry. Also VP in 2 years is something they toss out often. There are so many factors that go into promoting someone.
Think about exit plan, what if your director isn’t there in 2 years. You will have AVP on your resume, unless he’s really compensating you, it’s a risk
I wouldn’t just shoot for the title but salary too .. in fact salary would matter more than title to me
Hi @hungrymind , I am in same dilemma right now, could you please help what was your final decision and how did you come to it?
Take the remote option
Thanks for your reply. On what basis you say that? Is it with Morgan’s salary range understanding that they won’t be paying that much? If you can shed some light. Just a reply to take remote option doesn’t help my case.
For your yoe and remote is a good option with the pay. That’s what I mean