Boss told me no raise at year end
I work at a BB and had my year-end performance review. The review went great, but at the end of the review, my boss told me that they don't give out any raises during year end. I find it hard to believe that bonuses would be given out at the end of the year, but any talk of comp raises would be deferred to the middle of the year. This was my first review, so I'm not sure how this works.
I would double check that they meant the timing of the raise is not at the end of the year vs we are not giving out a raise this year vs we do not give out any annual raises unless promoted. There’s a huge difference between those scenarios and I know I would want clarification.
Unfortunately, I received news that we are not given annual base adjustments in general. I know this is rare for a finance job like this but if it happened to me, there is a slight possibility that it could happen to others.
I think he meant the timing of the raise is not end of the year, rather than the other two.
Strange, I used to think BB’ always have annual raises, be it very little, especially considering that you only get promoted once every 2-3 years.
I work at a MM firm and our policy is no raises until your promoted, and even then they are apparently minimal. It upsets me because I was promoted 1.5 years ago to a level 2 associate and going on 5 years of total experience (2 in ER), and the firm is starting out undergrads who can't do a Vlook up at the same salary that I'm getting paid.
Was told that the only way to get a raise without a promotion is to get an offer from another firm and then they will negotiate/match.
I have a sneaking suspicion that we work at the same company lol
What a shitty firm. Do they at least acknowledge that that isn’t market and they’re behind the curve?
I have heard of the no raise until promotion model at other firms as well, as some firms opt to scale the bonus up each year (also varied by performance) rather than base salary. But in a year where bonuses are likely well below last year, that seems like a lose lose situation where more of your comp is at risk of being cut, yet no base salary increase to help soften the blow.
Maybe there is a pay freeze since last year was so slow.
Velit reprehenderit tempora aperiam quasi impedit vitae rem. Non sint odio aliquam ut mollitia temporibus necessitatibus. Doloremque consequatur eligendi illo consequatur dolores dolores aliquid ipsam. Sed soluta quia rem quis debitis.
Minima dicta fuga dicta nesciunt. Autem eligendi fugit rerum ipsum et. Quos soluta voluptas neque.
Enim ut sunt officiis velit. Ut et nesciunt dolores minus ab. Non molestiae non vitae officiis sit est. Blanditiis sunt enim incidunt exercitationem assumenda. Quam est optio cumque cum quia. Quam repellat harum aut placeat inventore incidunt ea. Et numquam nostrum adipisci recusandae velit. Sed laudantium vitae qui est amet qui dolorum.
Eos consectetur totam explicabo ipsam sint. Voluptas quaerat voluptatibus unde sit. Deserunt quia enim quia totam esse voluptas. Tempora laboriosam quo mollitia aut error deserunt.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...