When do you receive a raise in base pay?
Does anyone have any details about when/how your base pay is increased? Does it happen automatically when/if you receive your bonus? Is it something that happens annually like clockwork or is it something you need to approach your supervisor about?
Lastly, are bonuses for second and third year analysts based on a % of your original base pay or your base at the time bonuses are given out?
Thanks for the help.
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At BBs you get your raise automatically usually right around your bonus. It may go into effect before or after depending on the firm. For both your second and third year bump, it will happen annually like clockwork and likewise if you go on to be an associate you will get a bump upon that being official.
After that it gets hazy, I know some firms give associates annual bumps in salary regardless of you asking just as part of your being a 2nd/3rd year associate, others make you beg.
While you may talk about your bonus in terms of percent of base/bonus, that's not how they are decided or paid out. Analysts are paid bonuses based on tiering. The overall tiers are set, you are given a rank, and thus a bonus. In 2007, top tier was around 50% over salary. This year, not so much.
Really helpful. Thank you.
Really helpful. Thank you.