Pros
It is a job; in a tough economy, that's a good thing
Cons
Benefits: split 60/40 after three months employment; expect to pay over $100 per paycheck for single Average estimated salary by position: Research Associate: $37,000-$42,000 Relationship Associate: $50,000-$55,000 Sr. Relationship Associate: $55,000-$62,000 Relationship Manager: $72,000-$85,000, more if you’re coming from a bulge bracket firm Bonus: $1,000-$3,000 Environment: Pay is below market and turnover is exceptionally high; management has happily embraced this business model. Older professionals have been laid off from other jobs and just need a place to land, biding their time until something better comes along. The research team is staffed with new college grads who are deceived into thinking that this is a finance job. The company makes a habit of hiring H1B employees to lock them in to positions; that or they just transfer people from the London office to NY. No one goes the other way, so allay all romantic thoughts of working abroad….or of being hired by a client. Mood: Negative. Employees spend their free time conducting phone interviews in private rooms or studying for college entrance examinations looking for their first opportunity to leave. There are lots of empty seats and management has been groomed to distrust its employees because of the low pay and resultant high turnover. Managers conduct weekly meetings with associates to monitor how much they have been working during the week and do not offer any insight. If you need a job, you need a job, however politics is more important here than work ethic so just show up on time, smile and pretend that this is a great place to work. You’ll be comforted in knowing that everyone else thinks the same way.