It does not matter but it does not hurt either.
Do you tell your MD or whoever communicates the salary/bonus that these numbers are disappointing? So you have a reason to push back work or quiet quitting…. Until you find another job
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No. Worst idea possible with where the next twelve months may be going. They already know the bonus numbers are / are going to be horrible before they tell you.
I meant for those who would just quit or lateral soon. What’s the harm?
I have no problem with people being honest with me and frankly prefer a candid conversation if anyone on my team feels hard done by. There are generally three situations
- Someone is comped fairly but has an outsized perception of their own performance and market value. This is most common and with some people, it happens every year. In this case, I breakdown why they got what they got in a granular but blunt way. Most of the time it works, but some people can’t handle the truth (you’re valuable but others are more valuable than you)
- You were not paid fairly but there is some institutional issue I can do nothing about. This sucks and one of the reasons I went to a place where I can set the comp for my team in the end. That said, it’s still worth having the discussion if you are a top performer because nothing is set in stone for top performers.
- I missed the mark and underpaid you. Doesn’t happen often but I’m not perfect. If you can reason with me in a logical way, and you’re a top performer, there’s always something that can be worked out
the dirty secret is that most banks always keep something in their back pocket for unhappy top performers. And it’s always worth having the conversation. Note this is hard for analysts and not easy for junior associates but not impossible either only if you are a top performer.
the one corollary to this you have to get your facts and your market value right. There’s nothing more tiresome than someone who complains about their comp without data and without deserving it. I was glad to see the back of the individual who complained every year without reason.
What about for those of us who are consistently top bucket and paid an outsized bonus relative to peers, but who really aren’t all that remarkable or differentiated vs peers.
Will I at least get points for honesty and self awareness for bringing this to my group heads attention?
or will I come across poorly by assuming I know better than all of our groups seniors?
Well having managed bankers for a long time, that would be a first.
don’t see the harm, but don’t see the particular benefit either. I would probably explain why we make the differentiations we make and encourage you do more of the same.
Anyone arguing for a lower bonus should be fired. That means you have no idea how to advocate for your own interests and in turn you likely have no idea how to advocate for your clients interests. Also shows a lack of common sense
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