Getting paid jack squat - gotta stack up at renewal

I'm close to completing my first year in S&T but as the title says, I'm more broke than an unemployed gym ape on benefits forced to prioritise roids and excessive protein and creatine intake over basic human needs.

No but seriously, I'm sick of everyone saying bro you in S&T that must be good money. Granted I'm not in a local firm not BB, comparable to a MM but with less pay.

The good news is my shop's internal systems date back a couple generations and barely anything is automated, traps and caveats are everywhere and only I know the intricacies. Learning curve here is outrageous.

In 2 months time I'll sign a new contract. For the first time in my life I have salary bargaining power, have a few thoughts about negotiation strategy but I've never done this before. What kinda percentage increase should I start bidding at, how hard should I hardball, will HR snitch if I say stuff like I been applying elsewhere etc. If anyone has any experiences to share, any input is helpful. Thanks.

 
Most Helpful

Was in similar situation, now at NYC BB market comp. Never disclose your low key moves. In order:

1. Sounds like you add value, add more. Make yourself absolutely crucial to their success

2. Keep interviewing and secure another offer. Use as leverage

3. Slam your nuts on the desk of whomever has the most pull in your office/group. Show offer, show market comp numbers, demand raise. 

I'm a trader and don't know if you're trading or sales but here is my trader 2cents, take it or leave it:

The most important of the three above is to continue making yourself valuable to the team and learning products. Not only does this make you indispensable, but often leads to promotion to lead trader of a certain product. Not sure if you communicate with other traders on the street, but as a youngster, you must have some pep to your step and sound/act twice your age. Most of these traders are dinosaurs and wont respect you if you're a pushover. Easiest way to deploy strength is by knowing products and being able to quickly identify if someone on the street is trying to bone you with a trash level on a trade. I'm young, talk to traders more than twice my age every single day. It wasn't easy when I started but as you move product and build relationships with these people, the street will recognize your name and respect you. 

 

Qui velit molestiae vero est ut molestias. Sed adipisci id ratione. Fugiat alias est soluta est. Et voluptatem perspiciatis commodi consectetur et veniam. Itaque autem sed explicabo et. Enim debitis consequatur iusto doloribus aliquid modi recusandae ipsam. Ut et dolores minima expedita odit enim officiis.

Assumenda tempora architecto enim ipsam. Repellat itaque facere accusantium veritatis. Voluptatum fugiat quos molestiae perferendis velit itaque earum eos.

Dolore maxime tempore rerum. Qui porro voluptatem iusto quia saepe sint temporibus. Ullam ut aut velit ratione. Qui ipsam est dolorem doloremque nesciunt. Fugit beatae dicta magnam dignissimos perferendis.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 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 (88) $260
  • 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
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
DrApeman's picture
DrApeman
98.8
10
Jamoldo's picture
Jamoldo
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...”