Am I an underpaid investment bank associate?

I recently made a career switch to a top-tier i-bank (hint - one out of the following: Morgan Stanley, JPMorgan, Lehman). I had read that the typical Associate salary range was 80-100k, however I was offered only 75k. I feel a bit stupid for accepting, but felt I had no bargaining power at the time, since I have no experience in the industry and my degree is in the humanities. Now I'm working longer hours than anyone in my team and have no time for anything else. Without being greedy, I just want to be making as much as everyone else.

How do these things work? Should my salary eventually be adjusted to be on par? Will I be entitled to a higher bonus to offset the lower salary?

While the average salary for an associate is a LITTLE higher than your salary -- you have to remember that most associates have more experience than you do. Therefore, you are not in a bad position. You have the potential to make a lot more in the future.

Your bonus will depend on three things -- the company's performance, your division's performance and your performance. If you are working hard and doing a good job -- then you will be rewarded at bonus time. You will also get an increase in salary. After a few years you will be making more than the average associate -- and probably won't be compaining that the new associates are underpaid.

As for the hours -- that is part of the job. If you want a job with better hours, work for the government. You will find that as you learn more about the job, you will be able to work more efficiently & can have a life.

well tbph thats still a fairly substantial wage...however if everyone else is getting more for the same work then so should you...!

I imagine that your salary will 'catch' up to the others' as you get experience and prove yourself through hard work. It sucks having to work more than others, but that's usually what happens to professionals when they're starting out.

I'm in the engineering field and all the starting people (myself included... right now I'm doing work study but full time is looming) get paid the least, and worked the most. Depending on your performance you'll see some substantial increases to your pay in the next 5 years, and then it'll level out as you settle into a longer-term position within your firm. The raises then will be smaller, and your workload will be more steady, until you receive major promotions.

Make sure to include your bonus and fringe benefits... That ought to bring you in-line with the surveys you are reading. Keep working hard. I-banking is a tough business to stay in for the thin skinned.

Salery usually does not catch up unless you are steller.............new folks get smaller bonuses.unless you are steller..............