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Hi fishes,
I am planning a switch so was going through some salary data for a software engineer. My ex-senior manager recommended me a website: Growceed.com which helped me a lot in getting clarification about a lot of things but I am in doubt whether the average salaries of software engineer mentioned on Growceed.com really that much in top MNC companies.
Received bonus letter.
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When do we find out about raises?
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When were you hired? They should have told you you weren't eligible for an increase this year. I am not familiar with advisory salaries- that is way high for tax and would make sense you didn't get a raise.
Back about 8 years ago when the banking crisis hit EY "froze" salaries in assurance for those not being promoted. Really sucked 'cause I had really high rating that year. I also came in as an experience hire and went through the whole "you were brought in higher than your peer group" crap and got like 0.5% raise - not even cost of living! Was told I was capped out at my current level. Finally made it to ED and got 25% raise in one year, so I guess it was worth it in the long run.
So why didn't you mention that as part of your intro? Sounds like you already have an explanation.
That's a slap in the face and poor excuse. I would speak to the partner, and I'd sample the market and get a competing offer in hand before negotiating
Haha. I don't feel bad for you anymore. You are way above staff 2. I bet 70k as a staff 2 is in the 90th percentile
Low 100s for staff 2 even in consulting is crazy high.
OP how is that even possible?
And yes, I've literally never fucking heard of 0%, that's terrible
OP is significantly overpaid. A 0% raise seems appropriate.
Depends on your priority - money or name/experience . However, not even getting a COLA raise is like saying that you are not even average. Never heard of that before for someone that had an exceptional rating, unless you have only been there for a few months and never went through a real busy season then that would make more sense...
negotiate but be ready to quit
If you're at the top of your pay band for that rank, you can get 0%. Has happened in CBS for some in high COL areas.
No offense. Sorry to hear that
No offense taken. Really appreciate the insight EY1
Did they tell you that this was the arrangement up front? I've heard of this when people moved from a high cola location to low- they kept them at the higher base but told them they wouldn't get anything for the next year. I don't know if I would worry about it - if you are really making so much more than others then you got an entire extra year of higher salary- optically it may look like shit to you getting zero but your overall comp for the two years is higher. You obviously can try to push back- but without another offer in hand they likely won't budge.
Never heard of
Yes, it happened in 2009. The firm gave ZERO raises in 2009, regardless of your review.
Another example of people reacting to the optics. If you started above the pay band for your group and level that's pretty awesome. I would Take the inflated year 1 salary and what is still likely an inflated year 2 salary and be happy and not worry about "not getting a COL" adjustment or whatever.
By optics he means how it makes you feel when you are told 0%. He's saying don't get caught up on the number, put it in perspective
^^ yes. I'm saying people (typically) don't like seeing a 0% raise, even though making 95k then 100k is objectively worse than making 100k both years. 0% raise is disappointing - just saying how I would try to rationalize it.
0%