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Hi fishes, Can anyone provide me info about GyanSys Inc , I'm in discussion with Gyansys about salary.
Current skill- SAP PLM Consultant
CTC is 14LPA (12.3F +1.8VP)
YOE is 6yrs.
CL-9
Is asking 22L as fixed pay okay? if not, what compensation shall I ask HR to consider ?? Thanks in advance for help🙂
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Is the CFE pretty easy?
Chief
Do you ever wish you get fired?
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Compensation and the annual raise process are challenging things.
Most firms, certainly larger firms, do a tremendous amount of homework to determine accurate ranges of market for all levels. All raises and resulting final comp levels are compared against the market data as well as assessed internally. There are more analystics applied to comp and raises than in a typical audit.
Here is the big challenge. There are always a few outliers and people want to latch onto those outliers and call those amounts "market" and they base their expectations on such amounts. An outlier can occur when someone moves between firms. I think most people know that moving firms can easily result in bump in comp.
But these outliers are not reflective of market. They reflect 5% or less of the workforce at any given level.
If someone wants to move firms solely for increased comp, that is their option. But these bumps are often not market adjustments. They are incentives/premiums to come to an understaffed office.
You should also recognize that when people jump around for quick pay bumps, they are often becoming mercenaries and trading in rapid career progression. If you are driven for career success, you are likely to advance faster and end up with more lifetime comp by staying put. (Yes, I know that is not a hard and fast rule, but it is a solid rule that works far more often than not.)
Final thought - perception of market is often misguided. When people say they are paid under market, it is often based on incorrect data or an anomaly outlier. The firms are not out there trying to find ways to underpay. Firms want to pay solid comp and there is an abundance of research and data to support the comp and raise process.
Definitely before you’ve already gone far down the road with other firms, interviewed, and have an offer in hand. If roles were reversed and you were interviewing with me and I found out it was primarily to get leverage with your existing firm, I would be frustrated. That’s just not good business. Just have a mature and realistic conversation with your current partner(s). If you’re a good performer they will do what they can to get you to stay
Honestly, if you feel you’re being underpaid, you need to be able to explain to the partner why you feel that way and (if possible) provide some quantitative/measurable reasons why you deserve what you’re asking for. Before year-end discussions are all said and done.
Glassdoor is not necessarily an accurate source for comp data. It is not a guaranteed cross section and my experience is that people tend to embellish their comp and other items when they post anonymously.
That being said, in your situation, you may be at a low point relative to your peers. Or maybe not. Many factors to consider which I just dont know for you personally.
Circling back to original post by OP, for both of you, I encourage you to speak with your lead partner or OMP or whoever is appropriate to discuss your concerns. I always think it's best to discuss transparently first before making emotional decisions. Hopefully your office tone and culture accommodates that discussion.
Good luck
Agree with P1, have the discussion!
Dude, all firms are the same. Get a job that pays more, you have to think for yourself.
Remember, all firms do the same work and hire the same kind of people, from the same schools, so-it’ll all be the same at the other firm.
Get the job that pays more!
Don't take a job for money. This industry is about the people. Definitely don't sell yourself short, that isn't what I'm saying, but taking any job just for the money turns out badly in the end.
I agree with CR1. If you decide to follow the carrot (ie partnership) and stay with PA, you’ll definitely be compensated over the long term. If PA isn’t your thing, then you need to find the right opportunity that fits your interests. Prior to partnership, you’ll be able to get a pay raise to leave. The ‘pay raise’ staying within PA is the deferred/ implicit compensation you’ll make as a partner. Whatever you do, you’ll be sufficiently paid as an accountant (and it just becomes different shades of how well you will be compensated). In the end, if you don’t like your job, no amount of money will make you like that job
Thanks, P1. I’ve heard compensation discussions at year-end don’t really do much as the firm “has a band” for every role. At best I could expect what, a few grand more? At that’s at the cost of potential internal conflict. I know I can get an offer for close to $15k more. Why would my current firm even consider giving me that without an offer in hand? Have you seen that done before? Also, I’m not just being greedy, I have a family and child so the extra change goes along way.
And I wouldn’t interview for leverage alone, It’s for the money. I would leave if a counter offer wasn’t matched. I just want to get paid my market value and if that’s 20% more than I currently make I would be a fool not to push for that
A question to P1 and P2. Shouldn’t HR be looking at salaries to see who may or may not be underpaid and feeding this detail to you? I’ll be leaving soon and it’s primarily because I’m getting a good pay raise to do so.
I would never suggest discussing comp without a offer in hand. I’ve had both at my last firm, one person went in with an offer, got paid (me). One went without an offer, got nothing (close friend). Obviously u have to be willing to leave if they don’t want to match but if u don’t have an offer u most likely ain’t getting anything
Op: "I'm not just being greedy." What?? If you don't get that pay, a partner will. Neither of you is greedy. Both of you need to make your case for it.
Thank you. The only guide I have, as an example, is something like Glassdoor; many folks on here seem to think it is pretty close to accurate. If I’m in a position where 90+% of the people for my position and title are paid more than I am, and I really only have a 5% raise annually at best, then it will take years to get to where I need to be financially. I don’t take jumping lightly, but if someone will consider years and experience that my firm is not, I HAVE to consider it.
Partner 3 is right. Although I think they underpay stellar performers a the low levels. I think saying the firms are not trying to find ways to underpay is probably accurate yet a little misleading. I think, from a staff (seniors and associates) level they pay the lowest amount possible to encounter the least amount of resistance. They know their brand power and the value of the experience. I think that’s heavily factored into the pay scales. Remember comp levels are compared only to public accounting salaries, which is why a lot of people get confused when saying industry salaries. Really industry rates are higher and it’s not reflected in the comp discussions because those salaries are not in the pa industry. Its tough to narrow down “what am I worth” without knowing exactly what job you want to be in down the road.
Wow, you guys are actually helpful !
Speak to management about it, it they don't do any then get that offer from a competitor. If they like your work they will match it or give you more. I saw it happen and it work out great for the senior mgr.
I don’t see the point in talking to the management, they know if you’re underpaid and they know if you’re doing a good job. All PA and advisory firms do the same work (except for MBBs in advisory), same kind of people, from the same feeder schools. Yes, you’ll have to make your network again-that won’t be hard if you’re good at what you do.
Go for the higher paying job!
OP, it’s capitalism.
I think Partner 3 is looking at it from his/her perspective- paying you as little as possible. Saying Glass Door often overstates pay is typical doublespeak (or worse) You are almost always better changing firms when trying to maximize your pay.