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.

2 Comments
 
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. 

 

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