1st year analyst - how to prepare for 1st year end review this year?
1st Year Analyst (started in June) after UG
How should I prepare for the year end review that will happen in December?
It goes without saying, obviously I’ll keep doing what I’m doing, working hard, learning, and improving my skill set.
I understand it’s several weeks out, but on that day I don’t want to be caught off guard.
Is there any preparation you’d suggest? I think it’s a great time to have one on one time with the boss and the door will be open to conversation.
Is that when I should expect my raise? I’ve only been on the job a few months now. Originally, I had assumed my raise would come one month after hire but given the nature of the firm - there isn’t a recruiting class, I am starting to think that the raise will come this December. Originally I had in mind at least $10,000 next summer. Is that something that’s reasonable this December?
Unless you get promoted, $10,000 raise is not the norm....
You should expect something like a 3-7% raise based on your rating, or if you are exceptional, you might get a 10%+ raise (promoted in this case)
A promotion isn’t in the cards. It’s typically 2-3 years as an analyst minimum. There are others more suited as they are more experienced, longer tenured and so forth.
My concern is a 3% raise this December thru 2019. I’ve heard younger guys shouldn’t be getting an inflationary raise, they should be getting much more.
I guess the first question is - should I be expecting a raise in December, at the year end review or 1 year after hire date, next summer?
Any other pointers for navigating this process for the first time?
You're going to want to get as much dirt on your manager as possible between now and then.
Lol. C’mon give some advice! ;)
Update your resume
The manager of my current position will care to see my resume?
What do you do? Brokerage? REPE? We need more information.
REIT Development
If your raise comes this December, as some sort of company-wide event, $10k is a bit much to ask for after 6-7 months. For your first year almost, you're probably costing the company money - doing things slowly or inefficiently, learning, etc. They take that hit because once you're trained up and comfortable, you'll be making them money. It's doubtful that in 6-7 months you've cleared that hurdle. That said, feel free to ask for it - no way to know if you don't.
Go in with intelligent questions and ask for specifics. "Keep doing what you're doing, work hard, learn, and improve your skill set" is worthless feedback.
etc.
Hi CRE, I also have the same question/concern as the poster, RERobert. Please see my other related post at: https://www.wallstreetoasis.com/forums/commercial-real-estate-capital-m…
I will be at the company for exactly 1 year in January 2019, when the comp calls happen. I came out of Ivy League (UG), and worked in corporate real estate ops for 1.5 year and then this current job for about 1 year. What do you think in my case to expect my bonus, my base raise for next year? If you could give ranges for the base raise, bonus, as well as how to negotiate/argue realistically/reasonably, that would be great!
And thank you in advance.
What does you going to an Ivy have anything to do with your question?
What is your current compensation? If you ranked your analyst team completely objectively, where would you place yourself in that hierarchy?
I somewhat disagree with others in this thread saying that a 3-7% raise is the norm, or that a $10,000 raise is too high, but this depends on the above.
Lol, it's a boutique firm. Firm wide, we have 50 folks across all functions. In Capital Markets, I'm the only Analyst, and then an Associate, he's here for 4 years. Not comparable to those Analyst in underwriting/Investor Relations.
I mentioned Ivy UG only to throw in more info in the hope of getting more precise data point or range of compensation for a position like mine (more details see my other post - see the link above). Thanks bd.charlus and anyone else who may throw in your two cents here.
Here's a helpful data point and some advice - your UG degree is not a statistic used in valuing your 'worth' or performance by employers.
...maybe if you went to HBS and were 20 years into a PE career you could say, "Well I have brought in X amount of deals generating Y amount of revenue by leveraging my business school network'
Maybe re-examine the value you add to the group and where this is relative to what a reasonable person might have assumed when they hired you. Head’s up - if you were a real steal based on your education/experience, they would’ve given you visibility to what a raise would look like this year.
Said another way, you exclusively listed stats that your hiring manager would have known when they hired you. That is all totally irrelevant to what you should get paid (which is a function of the value you add and your marketability to competitors).
My biggest advice would be to prepare mentally. Especially in my first few reviews, it was difficult hearing constructive feedback sometimes (I'm very type A). Even if it was 90% positive and then 10% about a few weaknesses, I would get a little defensive. Realize that when people say you need to work on (big picture thinking, modeling, formatting, etc.) it doesn't mean you suck at it, it just means you are stronger in other categories.
Stay humble accept the feedback and really try to gauge how you are perceived. To be honest it'll be another 1-3 years before you can really start making demands in terms of pay raises, promotions, etc.
How much raise is typical for 1st years as REIT RE development analysts?
I don't think you are going to get a direct answer from anyone. Anywhere from $0 to $10,000 is probably about right. Good luck.
This is actually outstanding advice. Keep in mind that whoever is tasked with doing your review is more than likely being given the opportunity to show they can manage people. This means they have every incentive to improve on any of your weaknesses and ignore your strengths.
BTW, they will be right about your weaknesses 9 times out of 10, so my point is not to ignore them. It's to recognize this as an opportunity to improve, not a crisis to be rectified.
Double post
Grow some balls and quit if they don't give you if you want/need. I mean if you're worth what you think you are you will land another right away anyway, so fuck them right? I don't mean that to be sarcastic, I just don't want anyone to get taken advantage of (seen it too many times). By the way, 20%YOY is not uncommon at all...
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