Do I have any Leverage?
The answer, im pretty sure, is "no" but wondering what i should be doing here: just got told today that the two associates on my team are leaving, after two analysts had already left so I am going to be the only junior left of 5. Desk head called me and basically told me "i understand, and will be supportive, if you want to switch teams, but you're exactly what we want on the desk, we love you etc etc etc."
I would be getting promoted in 6 months and im pretty sure they wouldn't promote me early just to keep me happy. They are hiring 2-3 people to fill the desk so its not like itll be disbanded. The way i see it i have two options:
-Stay, work like a dog for 6 months covering 3 roles and hope they make it up to me come bonus season. Do you think i can then ask to be fast tracked? is that something i need to reach out about now?
-Ask to lateral
What would you guys do?
Absolutely ask. You are only 6 months away and are the only experienced junior so you definitely have leverage.
What if they just say no? like i then i basically have to ask to move desks?
No, just shoot your shot and say you like the desk and would like to stay long term, but based on the staffing situation was wondering if they'd consider accelerating your promotion which was due in 6 months. They can say no and you can stay, but they will likely compromise with you either on comp, bonus, or title to keep you.
this IBD?
You definitely have leverage. If you leave, they won’t have any junior around. Keep in mind that would also mean the newcomers wouldnt be trained properly and output quality would severely impacted for the next few weeks. Ask for promotion, saying you would like to stay long term
Appreciate the help guys, after some back and forth with others at the bank i've decided to just "hint" at the fact that im happy to stay for now but will eventually like to be fast tracked next year. Hopefully that and a decent bonus comes through and i'll just put my head down and try to do my best for the last half of the year
Don’t hint at it or be around the bush just tell them straight up you’re willing to stay if they up your compensation. They can only know what you’re thinking if you tell them and the worst they could say is no.
Just fucking leave lmao
You have leverage here
I would personally wait the 6 months till your current promotion. Yes you have leverage to negotiate now but I would expect that taking on the additional workload will be reflected in your bonus. Depending on your MD's personality, they might begrudgingly give you a raise/title now but perceive you as disloyal for taking advantage of them when they are in a bind. Have seen a similar situation play out before and the seniors lost a lot of respect for the analyst who did it (which is immature of them in my opinion).
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