Reply to: The dark side is calling (contract to perm)

[Zigenare]

Kindly advise salary for tech VP in IB

Not enough. Hth.

[saurabh1]

Kindly advise salary for tech VP in IB

[Gibbon]

Yeah, right, as if I'm going to mention L...!

Oh look, the swear filter really does work!

Yeah should bring her back .....

[Zigenare]

Who?

Yeah, right, as if I'm going to mention L...!

Oh look, the swear filter really does work!

[Gibbon]

What about she whom we must never name...

Would that be going too far do you think?

Who?

[Zigenare]

And Chico!

What about she whom we must never name...

Would that be going too far do you think?

[Gibbon]

Yeah, and can we have EO and Minestrone back?

I miss scrapping with Minestrone... ...those were the days, he'd come home rolling drunk, Suity would rip him a new arsehole! Shaunbhoy would get lonely and start on Sasguru.

MF would try to be funny - I'm sure he'll get there one day, the lad just needs some gentle coaching!

And Chico!

[Zigenare]

Can we please quarantine this thread and any like it before the contagion of LilyLiveritus spreads.

Better still can we have a forum where contractor -> stepford wives converts are confined to.

Yeah, and can we have EO and Minestrone back?

I miss scrapping with Minestrone... ...those were the days, he'd come home rolling drunk, Suity would rip him a new arsehole! Shaunbhoy would get lonely and start on Sasguru.

MF would try to be funny - I'm sure he'll get there one day, the lad just needs some gentle coaching!

[oversteer]

So, what I was told, its 220 x day rate less 20% for the benefits package, = 176 day rate multiple.

Thanks, that’s really helpful - current rate is fair.
tbh I could probably get a new contract at about the 175-180 rate but I could make a small allowance for the fact that it’s somewhere I’m already set up, know the ropes, wfh etc.

It’s not forever, if I don’t make MD in five years I’ll quit

[Gibbon]

Mods Help!!!!

Can we please quarantine this thread and any like it before the contagion of LilyLiveritus spreads.

Better still can we have a forum where contractor -> stepford wives converts are confined to.

[Zigenare]

Inneresting.

I am at just over 255.

Yeah, but it was a piss poor day rate!

[GreenMirror]

Inneresting.

I am at just over 255.

[ContractorBanking]

Thanks, that’s interesting - it’s about 190x.

That's a good conversion.

So, what I was told, its 220 x day rate less 20% for the benefits package, = 176 day rate multiple.

220 is the days worked less holidays and sick time.

The 20% package is pension (around 10-13% non-contributory), health insurance, bonus, etc

All in all, I think your conversion is at a good rate.

You got to decide if your original rate was fair.

HTH

[oversteer]

What's the cash package in terms of day rate multiple?

Thanks, that’s interesting - it’s about 190x.

[ContractorBanking]

Offered base + benefits would be about 20% under a year's current contract money after tax - although there's a discretionary bonus, to which nobody will commit any actual amounts, and my Googling hasn't turned up much. (Other than 'bankers' make hugely more than 'non-bankers')


What's the cash package in terms of day rate multiple?

(the cash element is the guaranteed portion, the salary that is paid without discretion)

I had a friend in IB HR who advised the multiple that could be achieved without requiring higher sign-offs - give me a little while, will try and dig out the old mail. It'll at least help you to decide if the conversion is good (of course your old rate may be good or bad)