Got an offer recently for $220k all in for strategy/corp dev at an asset manager in a MCOL area. Just got promoted in IB and the money is making the decision tough. All in comp expected to be ~$350k. After running numbers over the next few years even with the exponential rise in comp in IB, the HCOL and taxes eat so much of it so leaning towards the the MCOL (+no state income tax) and significantly better WLB. How have others fared if faced with a similar decision? #Investmentbanking #finance #corpfinance #banking
Try to get more offers, remember if you relocate always are extra expenses not planned.
Came with 20k relocation. Not a ton of Asset Managers in this area with a similar role, so hard to come by from what I’ve seen
Wow 20K to cover relocation? Significantly less hours for still 200K+? You can always go back to IB if you miss it as there are head hunters who will place you within a month tops lol. Go for Corp Dev
I think I know the AM, they have a good culture; I’d go for it.
DFA?
Unless you see yourself really leaning into IB over the long term because you love it, I’d recommend taking the other role. Came to a similar juncture myself a while back - irony is after being promoted etc. I’d need to make a lot more in NYC or SF to compete with my current comp/COL. I’m much happier and really love my work as well. Day-to-day is great and I get to spend time with the people I care about, get outside and take care of our home and take on some hobbies. It all makes me more effective at work, too. Tc: 327k
Thanks this is helpful perspective and aligns with my current thinking as well
i am surprised jnj pay such a high tc. may you elaborate your role ?
Do you know anything about the "Emerging Talent Software Engineer - October 2022 Cohort" at JP? Recently came across this and thinking of applying.
Don't do it. Jpm is the worst. Ive never been so disrespected in an interview as I was with them, and they are all over the news for being terrible with RTO implementation.
Don’t listen to T mobile. We’re much better work culture than Amazon and we’re investing a lot into tech. You’ll like it here
What is your title at JP after being promoted to make $350k. That seems a lot. And how many of yoe do you have?
In IB 4 YOE
I meant if you are going to be promoted from analyst to associate or from associate to VP?
NH or FL?
Have you talked to an accountant to try to get a lower tax bill?
How many hours do you work now?
Slow week 60ish. Up to 80-90 when active market
Made this decision not too long ago…now i work about 25hrs/w and get to go to the beach 2/5 five days not including the weekend but the pay is less but so is my stress and worries.
TC?
Are you in Florida?
India
8h
487
Raveena Tandon and peaceful community mob
Tech Industry
Yesterday
1141
Buying a house with a gf
2024 Presidential Election
Yesterday
140
Verdict meltdown in Blind from foreign interests
Tech Industry
14h
1694
Amazon is Sh****t
2024 Presidential Election
Yesterday
657
We will not see another person like this
Whatever makes you happy. Do you enjoy where you live? Will you enjoy this new mcol? It's not always just about money
Thanks. Will be closer to family and better area than NYC. Starting to get over the NYC scene. Coming up on 5 years in the city
Sounds like you made your decision then.