5% raise to pick up and move is cheap. Real cheap. No headhunter..no monster. Day to day contact with hundreds of PM`s gets you the occasional offer....it wasnt my first, nor will it be my last. How the hell can someone read your mind? He may think like you do that 5% raise is adequate. Frankly I would laugh out loud if they came to me first way like that. 5% raise plus 100% of salary as bonus and you`re in my wheelhouse though. No nerves hit. It was a very strange thing to say, thats all. In all honesty. I have no clue how to price this. So I guess I have to put up with some thrashing to get some ideas..lol
Does not sound like you want to make the switch to buy-side, why bother entertaining it? If you actually wanted to make the switch, you would take the same salary, since a) growth and b) bonuses are much larger. It just comes down to what YOU want. Is it purely compensation motivated or do you actually want to go to buy-side? Sounds money is the only motivation. So just ask yourself how much it would it require for you to make the switch. Be realistic, since the PMs have a general idea of what you & your colleagues make, or at the least, can find out. Asking for a 200% markup is insulting, asking for a 50% markup because you actually enjoy what you do now is reasonable.