I am currently in this weird situation and don't know what to do about it. Thought I'd give the site a shot to see what everyone think. I work at a brokerage firm and I have been bringing accounts in that is doubling company's rev of the whole past 3 years. Instead of giving me a big bonus or what, my boss is terrified and think I will leave with the big accounts and avoiding the bonus talk. And they keep trying to pair me up with the rest of the firm who are either support, marketing, other entry sales people to get on the deal/account I am working on as to "assist me close the deal" when the deal was already done...not sure what I am supposed to do in this situation. You would think they would have approached differently, but who knows. What are your experiences like as a sales guy in brokerage firm, investment banking, real estate, etc.?
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I'm in a similar situation here. I'm a really confident person (not arrogant or over the top, just naturally confident) and my big-ego'ed boss doesn't know what to make of me because he thinks I should worship him and be in awe. So the same personal qualities that allow me to go after big accounts and call or meet with CEO's without fear, which he loves, bite me in the ass when it comes to him. I swear he goes out of his way to "knock me down a few pegs" when his ego feels threatened. He also thinks I'm going to leave (he's not exactly wrong on that though...)
It's like a dick measuring competition always and it's stupid because he's been doing this 20 years and probably makes 200 times what I do.
Sounds like a disconnect in your relationship with your boss. IMO, they are very much trying to get your accounts familiarized with others there should your firm have to replace or fire you.
Disconnect as miscommunication? Or concerns about my performance?
Don't want to get too much details here, small industry, but I'd say unfortunately it is hard for me to move within the industry as the business is booming overseas and I don't intend to move that far. I can either fix it or move to another industry. Any advice here on looking for a new job in sales and trading is much appreciated
If I have an open conversation with the partners on me feeling untrusted and want to talk about why there is no commission/rev share structure, is that a bad idea? I have been approached by competitors and clients, but they are overseas. The intention of the conversation is to get over with any bullshit or game playing here and just focus on the business.
As in the level of trust between you two...maybe he's insecure of ur high level of production and that u could usurp him in his role, or perhaps he thinks u are hogging the accounts all to your self without sharing enough info...
I would say they are being insecure as I share every conversation of those large accounts with the partners in the firm. The only thing here could be all my accounts are foreign and the partners only speak English. I speak multiple languages and bring on both English-speaking and non-english-speaking clients.
Is your current comp structure the classic salary + bonus?
kind of depends on what you are prepared to lose.
Personally, I'd play hardball and confront the boss and insist on bonus talk. But be sure to spin it as in "rewarding me in conjunction to my success ensures that I'm fully motivated to continue working hard and bringing in much more business for our firm in the future"
(but fyi I have gotten fired over playing "too hard" with my managers on 2 separate occasions...but I think it was more that I lost my cool. Eventually there's a time to stop insisting and make an ultimatum- all without losing your cool).
can you define "lost your cool" here, I am generally calm person except the days I work 30 hours straight without sleep.
When I say I lost my cool- I really mean that- I behaved stupidly and resorted to yelling, insulting people, etc. Which sounds ridiculous- but imagine day in and day out being shafted and being given BS reasons for it. (And I always hated the guy on a personal level to boot) And though I did deserve more- your situation seems to be more extreme, and you seem to be even more deserving.
I DON'T mean that just being "strong" is enough for someone to be vindictive and say "you're fired". That would be exceptionally rare. So by all accounts- calmly say that you absolutely must discuss your comp package. And then the 'rewarding me for doing well is good for our future success' spin.
gotcha thanks
In S&T, there's a difference between bringing in new accounts and actual trade flow. New accounts don't make a bank money, but borrowing and lending securities (I noticed a prime brokerage hashtag) does.
Have they done a lot of business with the firm, and has your bonus reflected that?
If not, you need to make a credible threat to leave. That means an offer elsewhere, ideally around bonus time, ideally with a large signing bonus. This is if they're being truly unfair in paying bonuses relative to what you know you'd earn at another firm.
I would not go out of your way to introduce them to your clients, as it gives you more leverage. The fact they speak a foreign language makes this easier for you. You're playing a game of chess against these people, and to be honest, if they're not paying you a fair bonus and you're bringing in a lot of business, they're not playing a very smart game of chess. Therefore it's likely you can keep out-maneuvering them on this.
Get an offer elsewhere, and you hold all of the cards.
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