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The firm you work for is a tremendous resource for information related to your firm’s performance rating framework
1 is good, 5 comes with a pink slip. It's based on a forced curve. Don't know the exact percentages, but something like 10% get a 1, 20% get a 2, underperformers get a 4, serious underperformers get a 5, most people (60-70%) get a 3. Not sure if it's technically changed recently, but it's still essentially how it works. If you get a 4 or 5 you don't get a bonus or raise.
I don’t get why you are asking this question
Yes, unless you underperform. Keep in mind the performance year ends first week in March so everything is based on that (if you started on Feb, you probably won't get anything in September even though everyone else does)
Yes
Unless you’re terrible, yes. In the past it was based on rating (satisfactory and above got raises, underperformers didn’t). I assume it’ll continue in this fashion even without the 1-5 rating system
This is also why you have a counselor and onboarding buddy.
Yes
Got 5% as a 2 after being at the firm for 4 months, next year got 10% as a 2
I’ve heard various responses
Thank you! I am new to the firm... can someone explain the 1-5 scale in more detail?
Of course. I believe analyst level as D don’t get bonus though
Yes. Until we hit a recession in 1-2 years you will continue to get raises. Then all bets are off and you’ll be happy to have a job 😂
What are the average raises at D?
Depends but from my experience 3s get you ~5-6% and 2s and 1s get more. Someone else from D correct me if this isn’t representative
Got 3% as a 3 my first year and 4.5% as a 2 last year