I just received my performance review and my manager recommended ~15% raise and ~20% bonus, however, management only ended up giving me a 5% raise and 14% bonus plus I am expected to considerably expand my role, but no promotion. I am a senior analyst working in structured finance at a mid/large bank working ~60 hours a week and I make $85k. Is this normal? Does anyone have any advice to negotiate the raise to at least meet inflation?

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If you feel undervalued, then start interviewing.

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Well you know what they say: low risk low reward!

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Leave! I’m so tired of HR giving their final say on what should be given during performance reviews. They don’t see your work throughout the year and continue to undervalue employees that are loyal but pay high to get new hires in to attract talent. They don’t care about retaining. We need to keep teaching them lessons about attrition.

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Yes this sounds low

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You should interview and get an offer. If they match it then stay otherwise leave!

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Public service reminder: never take the counter

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Leverage new offer

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Unfortunately yes coming into this economic time there are factors that we don't get insight into but are very real. I'm in a similar situation and am preparing to interview as a result. But recognize with tech layoffs and additional hiring freezes this will take some time. Buckle up friend, we're in for a ride!

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Can’t speak to mid market junior roles, but I know that a Structured Finance BB VP is in the $400K to $500K range. If you can maneuver your way up to a larger bank and hold on for a few years seems like it’s quite a nice amount of money. But they also work you hard, like 70hrs+ and plenty of weekends.

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Sounds like they’re playing you

Leave. Too many hours for too little pay.

60 hours a week for 85K? That’s underpaid for sure. I’d ask HR why the raise and bonus doesn’t match what the manager gave you

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