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Should always keep your eyes open for better opportunities. I spent 15 yrs at JPM, I know your dilemma.
JPMC sadly if you leave and go to another company you will get more. Current employers seem to never value employees as much as new talent
And 20% is typically unheard of. I know I fought last year to have my salary right-sized, and even that was capped at about a 5% increase.
Also at JPM and I got a 2% raise last year lol. Been going on interviews and other firms are comfortable with my current salary+25%. Went to third round last week.
I’m very confused at all of these numbers? Are you in low cost centers (outside NYC)? If working in NYC, how can you still be this low? Under 100k in tri state area is basically living paycheck to paycheck unless you have a spouse that works too, or are still renting a 1 bedroom apartment with 2-3 other roommates.
If in NYC, what business line are you in? Front office, middle office, back office, other?
CIB Finance and business management and I’m in NYC too. Trust me, it’s been hard, but each time I bring up comp, I’m told that my salary is at the high end of the salary range for a senior assoc.
Experience this same issue at BOA. I'm learning the longer you stay at the company the biggest disadvantage you face from a salary perspective. When people with no skillsets or experience walk in the door making more than me, and I'm a "top performer" something isn't right. Due to pandemic, I'm looking but being cautious not to put myself in a bad position with possible layoffs in 2021.
Ah that’s the scariest part about leaving the job. But I’m being offered 50k or more than my current salary
If it makes you feel better, I too have come to 7 years at JP, and was at 81k. I’ve looked around industry average and unfortunately, we get paid way less than others on the street.
Made same at RBC two years ago as new associate. Leave
For reference, I also have been at a big 3 for 7 years straight from college. Started at 55k+OT first year and made close to 75-80k total comp (but was doing a lot of OT). I’m now at 130+20k bonus for 150k total take home. Not in a revenue generating role, but moved up the ranks quickly (combination of right place right time and hard work / being the most promotable).
At year end on track for another promotion expecting at least 150k base +25k bonus to push total near 175k+.
Give me a call if you want to double your comp . Great firm , great opportunity.
732-513-8213 Be Happy, Healthy & Prosperous,
Norman
@VP3 Got a 50% base rise last year as I hinted I was going to leave, which seems to be a good tactic if you’re confident about finding another seat. Left shortly after anyways as somewhere offered a 125% base rise + 200% 1st year guarantee bonus + 40% sign on.
I make nowhere near any of what you people make as I'm in a niche position in the mortgage industry but it is sadly true. The newer people coming in draw much higher starting pay with nowhere near the education/qualifications/or experience I have yet I know I am ultimately replaceable should I decide on "hinting".
And due to the nature of my work, I would have to find employment with a skillset that would be translatable to my knowledge base. Scary thought even though business is booming in my sector and we are hiring like mad.
I worked almost 14 years and was lowest paid in branch as assistant. Advisor 4 tears, and assistant 9.5. The front desk receptionist made more than me. Gave raises and paid on your looks. Very disheartening. Find somewhere that really appreciates you and your work.
What business line are you in? In jpms, CA base comp is capped and the rest comes from comp the FAs provide. What isn’t fair is that base comp has changed for newer CAs, especially if they transferred from a newer business line.
Question - has anyone gotten a decent raise (more like 2% - low bar I know) in recent years outside of promotion?