How to Get my Boutique to Raise Base????
Title says it all. I am a 2nd year at an industry boutique in NYC with 85k base. I seriously enjoy working at my company - I find the work I do interesting, the people I work with to be great, and the culture is awesome. The only downside is that I was making slightly below street pay, and now I am making considerably below street pay with all the banks raising bases. Of course lateralling is an option, but I would rather not go down this route.
Does anyone have any insight into whether other boutiques are raising base/how I can bring this conversation up?
Interested
Hopefully you are close with your staffer so can try and slip it in. Also better for you to speak with your fellow jr colleagues to get how they are feeling and maybe work together in approaching
Currently at a NYC boutique making 75k - feelsbad :(
Who is in charge of your compensation?
At a boutique. Not sure tbh - would have to assume it’s the partners who decide base and bonus
You at Ducera?
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Stfu Ben you don't add any value to the threads you post in
damn ur paid the same as an accountant
Currently at a NYC boutique making $100k feels good :)
What industry?
Healthcare
Yeah wtf
which
Try to have a frank conversation with someone either mid-level/senior. At my pretty big MM, basically enough analysts complained to their associates/VPs that word got to MDs and they realized it was in their best interest to raise.
Remember most senior bankers have their heads in the sand- they aren't reading this site all day long. Once my MD found out some of our competitor banks raised pay (which he found out via analysts), he pretty quickly called some MD friends at those competitor banks and as soon as he verified the info, my bank raised quickly. Just make sure the tone is 'hey you should know this for the sake of recruiting/bank reputation/etc" not "i want more money"
Easy. Interview and secure an offer from another firm that pays the salary you want. If you’re close with staffer and they see you as an asset, be frank. Tell them you have an offer to lateral to a BB firm or EB, but you like the workload and group you have and would like to stay, but they would need to match your Comp to something similar to what you are offered. That way, you show your care and loyalty to the team, along with proving your worth.
If it goes badly, you have an exit to another firm. If it goes well, you got your raise
Interesting advice. I feel like it wouldn’t be looked upon favorably at my current firm but maybe worth a shot
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