When to ask for a Raise

I'm coming up on a year at my firm and would like to ask for a raise once I get there. I was hired in the latter half of last year, so I was unable to get any sort of raise or bonus for 2019.

I know for a fact my pay is below market, and I also know I am a valued worker as we have laid off others who are on the same level as me. I want to ask for about a $10-$15k raise, which would put me in line with first-year IBD analysts (do the math), I live in NYC as well.

Is this smart? Should I not do this considering COVID-19 and that I'm lucky to still have any sort of job? I'm a few years into my career, so I feel like I have the power for some sort of negotiations. I also do not want to wait for YE reviews to ask for a raise - that would be like 9 months from now.

 

I'd say after 6 months of solid work you're good to go in terms of talking about a raise. Whether it happens or not who knows, but I'm not sure the current environment is the best time to ask for a raise... Or maybe it is, I have no idea what I'm talking about.

 

I wanted to make a thread about this but it is more efficient to just use this one.

I'm in a pretty similar position to the OP, it will have been 1 year in this bank in about a month. I want to ask a raise in 2021 (mainly because it was already announced that 2020 raises were off, otherwise I would have gotten a 5% raise already) of about 20%-30%. My reasoning is that unlike all of my colleagues with my same title, I'm the only of them who has executive exposure. I've been put at the front multiple times presenting (both making the presentation and speaking) to the man who is 3rd in the hierarchy of this bank. This means that while my colleagues can turn in bad work that will then just get revised by my boss when I present my work I'm putting both my credibility and hers on the line. That added ownership of results has got be worth at least 20%-30% more than my peers who only turn in repetitive work that then my boss and I revise anyways.

I also don't mean to throw my peers under the bus but even just one year in (and some of them have 2+ years) already my level of ownership and executive exposure is way beyond theirs and this comes with added stress and worries. Am I being realistic here?

 
Most Helpful

Id minus exercitationem sint incidunt nihil aut consectetur. Iure quia omnis dolor quia esse qui.

In et quas vero fugiat est quos assumenda dolorem. Sit asperiores ad voluptas sunt. Qui id sint autem voluptatum qui perspiciatis et. Veritatis soluta suscipit molestias.

Inventore debitis non fugiat praesentium. Ipsum quis quaerat dolorum placeat exercitationem at hic. Occaecati eum debitis beatae aut omnis. Hic velit autem aut quia. Officiis et quaerat totam ipsum quo rem. Officiis accusamus eveniet error praesentium deleniti quae nam quos.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Lazard Freres No 98.8%
  • Goldman Sachs 18 98.3%
  • Harris Williams & Co. New 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (20) $385
  • Associates (90) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
dosk17's picture
dosk17
98.9
6
kanon's picture
kanon
98.9
7
CompBanker's picture
CompBanker
98.9
8
GameTheory's picture
GameTheory
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”