I asked for a raise in April 2022 after three years with my company. Positive feedback since day one. Learned I was making less than peers at other asset managers in NYC with less experience (14 years). Latest conversation was with HR about how they calculate salaries. I’ve been asked to provide examples how my role has changed since I started to justify the increase. Is this normal? Or is this just their way of denying my request?

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It’s their way of denying the request. This isn’t the advice you’re looking for…but often times you need to change companies or Firms to get a significant raise.

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Thank you, that’s what I suspected. Helps to hear it from others. Spent the whole day speaking to recruiters and sending out my resume.

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Sounds like they're making you jump through hoops. HR has access to significant salary data. If they don't come up with the right number move on..you owe it to yourself.

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They’re just denying you. Move = more money.

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Look for other opportunities

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I can’t speak to his situation, but most do. It’s just it doesn’t amount to jack ****. JPMC? Unless you’re promoted or on sales side, you don’t get big comp bumps. Your bonus might get bigger, but comp moves at 3-6% a year.

At 14 years like the stakeholder, let’s say he rotated every 2 years and got 10% each move vs staying.

Stay: 5%x14 vs Leave: ~5%x8 + 10%x6

Ignoring compounding, flat addition that’s 70% vs. 100%. So at least 30% more as floor; address compounding and it’s even greater.

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To further that, I have 3x my salary in 10 years vs peers who have 2x because they stayed.

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Everytime I see something like this I am shocked. Is it not common that companies have an annual performance and merit cycle? Or have I just been lucky that every company I’ve worked for gave annual raises based on performance?

Start looking for a new job. And you can be straight up and use part of your post as to why. You can throw it back at them why are some of your colleagues with whom you have more experience than making more. Let them answer that. But before you do that make sure you either already have a job or ready to quit the job 🤣🤣

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