Hi All, I started a couple of months ago a job in PE. It is the end of my 6 months probation period and I would like to catch up with the fund managers and tell them that I am not happy with my salary. How can I tell them and what % increase can you ask for? (I just started in PE so I am at the junior level...)
Thanks a lot!
Gonna need more context. Was it communicated to you that after this probation period you and your comp would be re-evaluated?
Only in one year time...
Were you happy with the salary you accepted 6 months ago when you took the job?
This. Unless they told you that was the case, not sure why you'd take a job and expect to deserve a raise in 6 months.
It is a small team, they are making a lot of money on investments but I am too junior to get carry. They are living the dream, showing off, buying properties with the money they make etc. and I am really paid like shit if you consider my low base salary and the fact that I am not entitled to carry (no perks at all: my evening meals are not reimbursed, no taxis at night etc.). I know that I am junior and started just a couple of months ago but I find it really frustrating to see them making all this money and paying me almost like a back office staff...(I was paid more during some previous internships in private equity or as an IBD analyst...)
No I was not but I had no better option at that time so I did not dare to negotiate - I did not want to lose the offer...
Bump. Similar situation
It is a very tricky situation and there is not much you can do except if you have some serious leverage.
In my case, I was told that at the end of my probation period I would be promoted to Principal and hence would get a package in line with my peers in my fund. One year later, I am still pushing internally for this to happen despite extremely positive reviews.
If something is not explicitely written in your contract, it is very difficult to negotiate...
Hum I guess in your case you should try to get a counteroffer...That is annoying! I see so many associates, even at very good firms, who are stuck 5-6 years as associates and do not seem to be able to do anything about it...!
Thank you guys, the problem is that it is my first full time job so I did not dare to negotiate at the beginning...But I was like oohh this salary base is not crazy straight at the beginning...how frustrating...
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