Need help ASAP… how to tell senior analyst if I don’t get a big bump I’m leaving
Believe my senior analyst overheard with an out of town salesman telling me basically I’m good enough now I should leave to greener (very small and older firm; mostly commission based and base across the board even for top senior analysts very very low vs street) SA and I easily top 3 team and top analysts make great money, but personally getting a minimal bonus currently outside of base. Told me he wants to talk and essentially sAid without directly saying it I heard you say you’re shopping elsewhere what can I do to make you stay (also knows if I leave could be over a year before he gets someone else comp is so low. Ex: #1 analyst at firm been trying to hire an associate for several months now) . Won’t get into specifics but we’re talking opportunities that are laterals but 40-60k base bumps plus performance based commissions (couldn’t tell you my current bonus calc but less than 10% on a top team at the firm that consistently produces.) Love the coverage and love my SA but I feel decision makers won’t approve even close to a match of other firms offering lifestyle changing $. Not sure how to approach someone who’s stuck their neck out for me multiple times and say convince them to pay me more.
Hey there! It sounds like you're in a bit of a pickle. It's great that you're getting recognition for your work and that you have a good relationship with your senior analyst. However, it's also important to ensure you're being compensated fairly for your efforts. When discussing this with your senior analyst, it's crucial to approach the conversation with respect and gratitude. Here's a possible way to frame it: 1. Express your appreciation: Start by acknowledging the opportunities and support they've provided you. This sets a positive tone and shows you don't take their efforts for granted. 2. Discuss your concerns: Clearly and honestly communicate your concerns about your current compensation. Use concrete examples and numbers to illustrate your point. For instance, you could mention the 40-60k base bumps at other firms. 3. Talk about your future: Explain that you're committed to your career growth and that the compensation is a significant factor in your decision-making process. 4. Ask for their advice: Instead of directly asking them to convince the decision-makers, ask for their advice on how to navigate the situation. This shows respect for their experience and wisdom. Remember, it's not just about the money. It's about feeling valued and recognized for your work. Good luck!
Sources: Fired as 1st year analyst?, Life decisions...buy-side equity analyst, Stupidly low bonus. Should I jump ship?, Snubbed for promotion - What would you do?
You think you are top but you write like this? I wouldn't pay you anything.
Lmaooo I wrote this when I was drunk…I’ll take the clowning I know I deserve it.
never for a second thought I was top and didn’t mean to come off like that if I did. In all honestly I’m just happy to even have gotten the chance to work in ER, busted my ass to even get the chance, and to be working a for a good analyst and an overall good guy that will he tough to leave. Came on here to get advice on how to tell someone who’s genuinely cared about me I need to move on to progress my career as a very young professional.
Your boss sounds awesome. Gone to bat for you multiple times in the past. And instead of getting mad, he said how can I make you stay.
I would grab lunch or dinner or drinks and say something like the following.
First of all, I love working for you. I know many seniors who are selfish and treat the subordinates like trash, but you’ve always had my back. And you’re the only reason I’ve stayed here. Research shows that the firm underlays my level. Then give actually numbers that a close “friend” makes.
Then I would ask him to opine on why the firm pays so low. Does the firm actually not make as much as other places? Does top management just hoard all the profits?
Finish, by asking his advice on what he would do, if he was a young kid trying to earn money due to - and then make up some dire reason you need to earn more like student loans or parents are losers and need financial support or something. Would be stay and be underpaid for long or look for something more? What does he think he could realistically do to help increase your comp? How long would it take to implement?
Basically make sure he knows you love him and he’s the main reason you choose to work there and make it seem like you’re asking how he can help bump you.
But we all know cheap companies stay cheap, and there’s not much executives will do to make some random junior happy.
Wow man thank you so much for taking the time to write this out, actually means a ton to me and perfectly lays a framework for that conversation.
let me know if I can PM you, got 1 or 2 questions along this line would love to get some insight without trolls/the peanut gallery giving their input lol
Feel like I know the firm… let me guess you aren’t in nyc or Chicago
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