Related Posts
Conversation Starter
More Posts
Pro
What do Spark Foundry ADs in Chicago make?
Additional Posts in Accounting
When my senior asks me if I can stay late tn
25..worth it to go back and get masters?
Can anyone access mercury right now?
It's bed time.
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Rising Star
“15 years from now, when you’re a millionaire partner, you will wish you didn’t worry about salary” -some partner probably
Oh god this is so real. A senior manager used to always say this to us.
The reality is unless you are someone the firm desperately wants to retain (usually would need to be manager or above), or unless you have another offer, the firm will generally not negotiate your salary. The best you can probably so is some sort of spot bonus. That being said why not just be honest and go to your partners say that you see yourself at the firm for a long time but You think that you are underpaid compared to the market, what’s the worst thing that happens?
Memories!
I was a SM up for partner and got deferred and told I had to wait one more year. I then negotiated, argued and shared every form of rhetoric I could muster to get the raise I wanted.....130k to 170k.
My raise was 20k taking me to 150k.
I made partner the next year.
Yes, I will be one of those partners who says don't be so quick to leave for money. If your goal is to make partner, I recommend staying put in your current firm (certainly depends on several facts). You will get promoted faster by staying and earn more overall. If you're not vested in making partner at your current firm, then a lateral jump and a raise is a viable option.
Either way, cant hurt to set forth your feelings. Just be prepared for an answer that you don't like. Most of us, partners included, believe we are worth more than a company will usually pay. Yes, this happens to all of us. It doesn't end until you retire.
Good luck
Rising Star
What is your salary,position, and cost of living
If they aren’t willing to pay you, hop firms
Change firms.
Rising Star
How close do you think you are to partner? Switching firms would put you behind on relationships.
Underpaid vs industry, correct? Not that you think you’re underpaid compared to KPMG peers?
What are your long term plans? Are you close to partner? No question that you could leave for more money - that’s a fact. But if you don’t want to be there long-term, it certainly doesn’t hurt to get another offer and see if they like you enough to up your pay to keep you. But of course you have to either be willing to walk away if they say no, or have a partner you trust enough to have an honest convo with (who wouldn’t hold it against you that you thought about leaving but then decided to stay).
No. Was told that over the years the firm will on average be fair to me but on a year by year basis it can seem unfair. That was the year before Covid where the raise from promotion S3 to M1 was less than the raise that year i was trying to negotiate. I was at the top of my class With reviews and billable hours.