How to ask for a raise?
Year end review coming up. Making 120 + 25% target bonus in a tier 2 city as a senior associate in PE at a $400mm fund. Not many alternatives in this city so it is easy for employer to underpay. How can I ask for a raise / something closer to market?
Would you be open to moving to a T1 city or maybe an alternative T2 city? Im incredibly junior so can't really help on asking for a raise but maybe a shift could make sense if they are the only shop in the city?
Would ideally like to stay at this firm but yes a move is an option.
Start the conversation with a competing offer in hand.
wouldn't you be viewed as disloyal if you play it this aggressively? which may affect future perception / office reputation?
Well, you have to be willing to leave. Otherwise they'll continue to underpay you.
What does loyalty get you?
Get a bid and ask current shop to match or better. They’ll work with you if they like you. If not they’ll tell you to fuck off tbh
How has comp progressed from aso to senior aso? Also how many more years until vp, and do you have any visibility into comp at that level?
Thank you sir. May I have another?
bump
Sounds like they are the only game in town, so your leverage is weak.
I would start by having an informal chat with your favorite vp or director and mention comp in other cities and ask how the profession goes. Hopefully they take the hint and tell you of it gets better or you are perpetually underpaid.
Then after you get your number, ask questions around how the pay scales as you continue to rise at the firm. If you’re bold, you can mention figures from other places as anecdotes.
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