I have my comp meeting tomorrow.
I've been working in IB for 10 years, but I moved from IB to PE this year so I thought I would rethink comp discussions and open it up to the forum.
My comp is guarenteed this year (and I'm happy with the number), so let's assume I get what they said they would give me.
My gut is I should set myself up for next year. Basically go in with my big wins for the year, plans to make a ton of money for the firm next year. Understand you can't give gty and predict macro environment, but where are you targeting me for next year and what can I do to maximize.
Appreciate all thoughts.
Yes
If it's guaranteed and you knew ahead of time I'm not really sure what the question is here? Are you looking to prod for a range for the next year? Not much you can do to control things in my experience, especially when markets are as turbulent as they are now. Best you can do is ask for historical comp increase in t+1 really. If your fund is fundraising / anticipates to be fundraising you can see how that may/may not effect things - can't think of much more.
Comp discussions are usually pretty one-way - if you can even call it a "discussion" - usually someone pretty senior says "thanks for working hard this last year, here's your #", you say "thank you", he/she will ask how things are going as of late, you say "fine, thanks for asking" and then you share some light chatter over excitement for the holidays / upcoming offsite. You can try to fit in a question at the end but note that there's usually 1 or 2 people doing 25+ of these over a few days so more likely than not any attempt to have a more intimate conversation will be tabled
The only exception is if your review + comp discussion is tied as one, which is frankly rare (as it should be) - if that's the case, then perhaps there's some time to talk
Why not tell us your comp thsi year? Wtf is wrong with people when they post?
I mentioned my comp target 2 months in advance of our discussion. I will send a reminder once we are closer to getting our group's final bonus pool numbers which is still 3-4 weeks in advance of our individual discussion. I'm close to our partner and quite vocal on this stuff. You have to push hard to get paid in life
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