First time posting here but… I’m currently a 1st year Tax Analyst making 58,000 plus bonus. I was never informed on how raises work for this company, but it’s the end of the year and there has not been any talk of performance evaluation, which I assumed was when compensation would be covered. This is my first “real” industry job so I’m not too sure. Is it too soon in my career to consider looking else where? The area I live has a pretty height cost of living. (F23)

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Where do you work? How long have you been there (e.g. 3 months vs an entire year)? Are you happy there or are there non-compensation factors that make you want to look elsewhere? Based on the little info you provided, I'd hazard a guess that looking elsewhere is hasty and won't yield a significant (if any) compensation increase as you're still inexperienced, but your answer to these questions definitely influences the answer.

You should also likely email HR about compensation adjustments if you don't have any mentors or friends in the firm who could at least give you details of when those adjustments occur. Most medium or large companies should have documentation detailing the timeline (Deloitte and EY definitely do), and it's in your best interest to find out that performance evaluation timeline so you don't miss any deadlines.

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At most companies I’ve worked for, performance cycles take place twice per year: spring and fall. Usually one cycle will be dedicated to cost of living increases, and the other is for promotions. Typically you have to be in the role for at least 6 months to be considered for a raise. More than likely you’ll need to wait a year. I agree with the above post about not moving jobs over this. Wait until you have about 3 YOE before making any moves

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