Out on the Street: Comp Me

Each week, “Joe the Trader” chronicles his experiences with life after Wall Street.

Last week I had my third interview with my most promising job prospect. While I may have to go through another round of pleasantries, at least as far as I’m concerned, it is time to fish or to cut bait. Fortunately, the chief investment officer of the firm was the one to bring up the touchy topic of pay.

“Lets talk comp,” he said. “What are your thoughts?”

What are my thoughts? Are you kidding me? Just give me a job and a reasonable salary. But of course, I couldn’t sound desperate. A few years back, when times were good and I was being lured away by a prospective employer, my dad advised me to “ask for enough to make them squirm.” While that might have been the appropriate strategy at that time, now I am not exactly playing with the strongest hand—nor with the house’s money. So I decided to try to balance the two.