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Hi Sharks!
Would be great if people from various companies can provide the percentage of hike they got in their CTCs on promotion during the financial year starting Apr 2022. I am mostly interested to know these details from the folks based out of India.
Once I get a hike, will provide the percentage in the comments section. Would help us to analyse whether the hike we got is as per the market. KPMG EY Tata Consultancy PwC Deloitte Accenture ZS Associates
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As RiRi says ...
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Research the market and see what is comparable in your field and area. Then think about what value you have personally added to the firm, and what your goals are moving forward
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Ask on here. You can keep your sources confidential when you’re discussing the average salary in your review meeting. And use the search function to see if the info you need was previously discussed.
Having the metrics on your side (strong collections) is usually the easiest way to have that conversation - I collected [ ]% of what I billed, my salary to overhead ratio is improving, I’ve got strong client development and am an essential part of the team for this particular client, etc. How do you add specific, concrete value to the firm and can you quantify it? Asking for a raise for a raise’s sake (even to account for COL) has rarely been successful in my experience - you need some hard numbers to present so it comes across as a business/economic decision.
There are a lot of threads on here about this. Figure out some metric for the value you contribute to your firm and try to translate that to an appropriate salary. I usually start at 1/3 of collections (i.e., if your work led to $600K of collections last year, $200K is a good starting point). If you generate business fold that in as well (i.e., 1/3 of collections + 1/3 of originations).
Every firm will evaluate this differently, and if your numbers are low, a bigger chunk will go to overhead. In your first few years, a bigger chunk goes to overhead in the form of training (even if you bill your hour, partners may write off their own time).
Anyway, determine what you think you contributed using objective metrics and make an ask on that basis.