Asking for a higher bonus as an A2?
Currently an A2 at a BB AM firm. Team has not been doing well and my PM recently left, leaving me with managing an A1 and taking responsibility of more tasks. My MD recognizes the added responsibility and I know bonus talks are occurring next Jan/Feb (although they consist of us just accepting whatever number we get). My GF thinks that the highlighting the added responsibility + asking for a title/salary/bonus bump is a good idea, but I’m a bit apprehensive considering I’m only 23 and at a BB rather than a small firm. Would asking for a higher bonus be in line with what people normally do? Should I bring it up in an earlier conversation or just during bonus talks?
Based on the most helpful WSO content, it's not uncommon for employees to advocate for themselves when it comes to compensation, especially when they've taken on additional responsibilities. However, it's crucial to approach this conversation with tact and professionalism.
Here are a few pointers:
Timing: It's usually best to bring up compensation discussions during your performance review or when discussing roles and responsibilities, rather than waiting for bonus talks. This gives management time to consider your request.
Highlight your contributions: Make sure to highlight the additional responsibilities you've taken on, the value you've added to the team, and your accomplishments. This will help justify your request for a higher bonus.
Be prepared for any outcome: While it's important to advocate for yourself, also be prepared for the possibility that your request may not be granted. The decision often depends on factors beyond your control, such as the firm's overall performance and budget constraints.
Remember, every situation is unique and what works in one context may not work in another. It's always a good idea to seek advice from mentors or colleagues who understand your specific situation. Good luck!
Sources: Arguing for bigger bonus?, Q&A: A2A 2nd Yr BB Associate (Healthcare) Residing in SF, Comp/Culture/Hours etc at Tier 2 Consulting Firms?, Associate Pay at GS / MS
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