Performance of you names/coverage, career progression, and comp
Hey all - I'm just rounding off my first full calendar year as an analyst at a concentrated value shop and it has me wondering how much the performance of the names you recommend should effect your career progression and comp. While I realize one year isn't long term and I don't want to come off arrogant from short term performance, I'm also loathe to waste the negotiating power that comes from having a good year. Is shooting the lights out one year grounds for negotiating a promotion or abnormal raise? Thanks.
My experience at a long only fund:
One year is virtually meaningless so I wouldn't count on it affecting your performance for better or worse, especially since you're talking about a handful of positions at most. In the first year, you're mostly evaluated based upon effort, quality of work, attitude, getting along with the team, etc. Track record starts to matter at 3+ years unless you are an extreme outlier for better or worse.
Thanks for the feedback. Is it pretty normal for progression to be pretty lumpy then? I.e., instead of every good year getting recognized a little bit individually, is it just larger recognition less often for top performers?
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