Have you ever pushed back on a "good" bonus?-
I just had my bonus discussion - long story short it was a good number relative to what i should be getting elsewhere relative to my peers in other firms, but I had higher expectations and i don't think it was that unreasonable given the firm had a record year and i personally generated multiples in terms of revenue compared to last year.
i pushed back a bit on my boss, and he claimed that it was a very good number relative to the team already so i thanked him and said i trusted him for having my interests at heart, and told him ill continue to work hard.
This was the first time i pushed back a bit on a decent number so i do feel a bit nervous. i m wondering if i should've just bluffed and said i was happy, but at the same time don't want to say that i was ecstatic when i do think it could've been higher. Thoughts?
Based on the most helpful WSO content, your approach seems reasonable and balanced. Pushing back on a "good" bonus can be tricky, but it’s not inherently wrong, especially if you feel your contributions warrant more. Here are some key takeaways and thoughts:
Acknowledging the Bonus: You did well by thanking your boss and showing appreciation for the bonus. This maintains professionalism and keeps the relationship intact.
Expressing Higher Expectations: It’s okay to express that you had higher expectations, especially if you can back it up with your performance metrics (e.g., generating multiples in revenue). However, it’s crucial to frame it constructively, as you did, by emphasizing trust and commitment to the team.
Bluffing vs. Honesty: Bluffing and pretending to be ecstatic might have avoided the nervousness, but it wouldn’t have addressed your genuine feelings or set the stage for future discussions. By being honest yet respectful, you’ve planted a seed for your boss to consider your expectations next time.
Record Year Context: If the firm had a record year and your contributions were significant, it’s fair to feel that your bonus should reflect that. However, keep in mind that bonuses are often influenced by team dynamics, firm policies, and other factors beyond individual performance.
Future Strategy: For next time, consider having a more detailed discussion about how bonuses are determined and what specific metrics or achievements could lead to a higher number. This shows initiative and helps align expectations.
Ultimately, you handled the situation well. It’s natural to feel nervous after pushing back, but as long as you approached it respectfully and with evidence of your contributions, it’s unlikely to harm your standing. Keep delivering strong results, and use this as a learning experience for future compensation discussions.
Sources: 2 successful years at the firm, 2 years of 0 bonus and minimal pay rise, No bonus/payrise despite good year, 2 successful years at the firm, 2 years of 0 bonus and minimal pay rise, Record Dealflow Is Paradise, https://www.wallstreetoasis.com/forum/investment-banking/bonus-season-comps?customgpt=1
My 1st year in a graduate development program, all the 1st years banded together and said $ wasn’t enough, driven by the kids that were top tier. World class performers.
I was average performer. And frankly, it was a lot of money for me. I was taken back, but joined the push back. Grew up in a working class union household. The shop doubled our bonuses
I try to carry this memory with me through my career.
Your bonus is never enough. You’re gold. Say it with your chest and let them know why they should be paying you.
If you are truly good and valuable you should be the one making your boss feel nervous that have potential to leave. MD mentor has shared repeatedly “the years I got paid the most were the years management was most afraid of me leaving.”
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