I was wondering if our community has ever put together a shared document for salary info in the financial sector. I’ve noticed other career-focused groups doing this, and it seems pretty useful.
The idea would be to have a place where we could all add details like:
How much we make
Where we work (city/region)
Our job titles
What kind of company we’re at (bank, hedge fund, etc)
If we don’t have something like this yet, maybe we should start one? It could help cut down on all the “How much does X position pay?” posts we see here. Plus, it’d be a great way for us to share info and get a better picture of what’s normal in our industry.
What do you all think? Has anyone tried this before? If not, would people be interested in setting it up?
I’ve been in the industry for over a decade, and this idea has merit. However, we need to consider potential drawbacks. Companies often discourage salary discussions, and participating could breach employment contracts. There’s also the risk of data being used by employers to cap salaries. That said, if implemented carefully, it could be a powerful tool for fair compensation. Perhaps we could start small, focusing on entry-level positions across major financial hubs. This would provide valuable insights for new graduates while minimizing risks for more established professionals. We should also consult with legal experts to ensure we’re not crossing any lines. It’s a complex issue, but one worth exploring further.
ya, that’d be super helpful! i’ve seen some threads on glassdoor but nothing specific to our industry. maybe we could set up a google sheet? I’d definitely contribute my info if others are down. just gotta keep it anonymous ya know?
I’ve actually been part of a similar initiative in a different industry, and it was incredibly eye-opening. The key is to ensure anonymity and broad participation to get meaningful data. Maybe we could start with a basic Google Form that feeds into a spreadsheet? That way, people can input their info without seeing others’ data directly.
One thing to consider is how to verify the information’s accuracy. In my experience, some folks tend to inflate their numbers, which can skew the results. Perhaps we could implement a system where users need to provide some form of proof (like a redacted offer letter) to a trusted mod before their data is included.
If we get this off the ground, it could be a game-changer for salary negotiations and career planning in our field. I’d be happy to help set it up if there’s enough interest from the community.