How/when to renegotiate comp?
So not going to go into it all but I took an offer with the thought that it was going to be a backup as I had another verbal offer, but not a written yet. Well, since I thought I was going to reneg as soon as the other offer came through, I did not negotiate my comp before accepting the offer, and of course the other offer fell through (pushed back to 2022). This was still a raise and a promotion from what I was making, however, I think I probably left at least $5-10k (base) on the table. When and how should I renegotiate comp? Can it be before a year or at least a year in?
Super firm/seniority dependent.. I reneged my comp 8 months into my first year as an analyst.. got a crazy offer from another firm and took it to my MD.
Risky stuff but you should wait it out until you really prove yourself and become an asset to the company.
You either need to wait until your 1 year review and then show your performance or if you get another offer before then you can take that and use it as leverage but that becomes a high risk negotiation.
Don’t nitpick over $5-$10k. It’s a pretty bad look to be 6 months into a job and be concerned with comp unless you are super underpaid (sounds like you are not underpaid)
Maybe they will make up for it with a great bonus. Better to wait and see than be 3
As mentioned, I would say at least $5-$10k. It could be $20k, I don't know. But even $5k would be nice.
fwiw I'm an uw associate (W&D/CBRE/Berkadia), 2 years xp. My base is $70k, 30%+ bonus. I think I'm a bit underpaid.
Yeah you’re getting fucked that’s ultra low if HCOL
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