I have reason to believe that I am being underpaid in my current position relative to team members and relative to the industry. What is an appropriate way to ask about the salary band or address this? HR?

Thank you!

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HR works for the company and wants to control costs. Hopefully you have a good working relationship with your manager. If so, I would approach him or her

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You need to get another offer to validate your hypothesis

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So I do this buy constantly keeping a look out at what market rates are for my field by talking with recruiters all the time. May I ask what city you are in and also what you do and what YOE? I can give a ballpark range from what my company (a large bank) pays for that type of role.

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Thanks for the insight, super helpful. Will do additional research on the market.

Around 2.5 YOE, just moved to an IR analyst role for a boutique hedge fund (9-10bn AUM). Took the analyst role and was told a promo to associate isn’t far away just wanted a little more experience. So that’s def in the back of my mind

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Hi, agree with SVP 1. I actually had this situation at a previous (small) firm. I spoke with a consultant about it and she said just use the market argument, present the comps, and keep things factual. Make the argument that you have contributed to the firm in X,Y, Z, and just want to be paid market rate. Good luck

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Ask you manager first. Talk with him regarding your concern. If he understands you and agrees with you, you might get help from him to talk with the HR.

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I would ask trusted/close colleagues outside of your immediate group first (i.e. people who do not report to the same manager). I would ask for their read of what a person in your position should be making. Of course getting an offer from the market is always the best approach. You may be surprised what you you find out. I got a 50% salary bump last year. It required a relocation to a more expensive city, but it was still worth it.

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Depending on your role you can get a benchmark from the salary guides that get published by the recruiting firms, Robert Half, for example. I’d also recommend talking to recruiters directly if you can to take the pulse of the market. You can’t take their word as gospel but it should be a good indicator.

Once you are better informed, then you can talk to your boss.

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You should go to your manager first before going to HR. Tell your manager your reasons/justifications. Your yoe, skills, accomplishments and performance could be some of the factors that you can use for the negotiation.

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Usually with bigger companies bands should be public internal info. I'd just ask HR straight out loll

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