Should I expect a raise after 1 year?
Signed my offer that stated it's a "2 year analyst program" position outlining the compensation.Can I expect a standard raise after the first year or will the base salary remain the same for the whole 2 year duration?No mention of a raise in the offer, just the base salary and bonus range.REPE NY
Depends on the company. Usually larger firms will do an inflation adjusted increase.
Is it worth asking about? Haven’t started my first day yet
Oh boy. You havent even started the job yet and you want to ask about a pay raise? Cmon now. Do a good job, wait a year, and then have that discussion. Doing that conversation now will put an extremely poor taste in their mouth.
Perhaps, but I feel like it’s valid to know what I can expect and not be caught off guard with anything if I want to work for the firm in the long term.
You should of asked before you accepted the offer. Now it is pretty much too late until a year from now when you can realistically ask around review time.
Also, something they tell you now might not be true a year from now, so even if you get told something, it may not actually happen that way
Fair enough
It is easy to get wrapped up in the pay competition as a student, but once you get into a job, it becomes easier to figure out how you feel about pay/other perks and what they mean to you. It might sound nice to get a 5k raise from analyst 1 to analyst 2, but if you absolutely hate year 1, then 5k isn't going to do you very much.Also, if you are terrible, a company isn't just going to give you a raise because you are getting older. Everyone assumes they are going to kill it or at least be average, but when you look at averages, at least 1/2 of you suck. Sucking in finance doesn't get you raises, it gets you let go or managed out
That makes sense. What defines sucking as an analyst? Is it things like turning in deliverables with careless mistakes, not being attentive in meetings, not catching on quickly, etc? And what would stellar performance look like?
Different for everyone, but the one that tanks a lot of people is attitude. I would take good attitude/disposition over technical ability any day of the week.
Being inquisitive and flexible are also things that I prize. There are so many days where you have a plan that gets thrown out the window because some emergency comes up. Being game/being positive about needing to fly to Cleveland at 2pm today to tour a property, or to change plans to get x done instead of y, is what makes you the go-to person. I'm not saying be a doormat; if you have concerns on something, discuss it. Just be game to give it your all if asked to do something.
Coming in with a chip on your shoulder like you are god's gift is never going to go well either.
Also, get involved in stuff outside of your group, and treat "middle and back" office as actual humans and not people just there to serve the "front" office. Join an employee group, a volunteer activity (or if none of that exists, create it), go to those fireside chats in person, etc. So many people think that promotions are just about being the best at a job, but the soft stuff matters as well. Some of the only interaction you may have with senior leaders is at some of those quarterly staff meetings. Be in the front and present; don't be on your phone or always be the one slinking to the back. A lot of companies do 360 feedback/ask people other than your boss how the feel about you, especiallt during promotions. If you consistently fuck with finance and that comes up to a Senior leader or CFO, you could be a top bucket employee and not get that promotion because your attitude is bad.
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