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.
So you're saying that top analysts were getting 70K +50% = 105K all in in 2007? That sounds very very low. And it's even less now? Who would want to be an analyst? I thought a first year analyst made at least 140K all in...
lol, no.... 50% over base as in, base was 60k, bonus was 90k.
Really helpful. Thank you.
so if you started your training in july, began the actual job in september, will the base bump be in february when you get a stub bonus? a base bump after only 5 months of work seems kind of early to me?
Bump, help a brother out
No what he is saying is bonus of your salary plus 50% so 150%.
In 07 this was probably $60k + 90k so $150k all in.
lol, that clears it up.
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