Related Posts
Mentor
I am leaving JP Morgan next month and have resigned before completing of my 1 year with the firm but technically my year will be completed next month before notice period. The laptop allowance and the relocation allowances will it be recovered from me during my exit??
Please let me know if anyone is aware of this scenario.. Leaving JP Morgan is completely personal JPMorgan Chase
Am I the 1st post here :)
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
This is also why people change companies more now than ever before because a change gets you to market rate where staying usually means minimal increases.
It be like that
You’re an A2 or a S2? If A2 that’s normal. If S2, I’d demand a raise or quit.
I've heard this story more times than I can count in my 20 years in public accounting. That's just how it goes. I'm sure the seniors felt the same way when you were hired.
“Wage compression”
Most mid to large companies evaluate wage compression so if new hire salaries increase they give other levels a raise so that staff don’t make more then a senior.
And you need to confirm if you’re a 2nd year or 2nd year senior (meaning you have 4-5 years experience). If senior sounds like your underpaid to begin with but if 2nd year associate normally years experience at the same level is only a few grand difference. Reality is once they are trained they will be doing the same work as you are doing.
Not all of the change can be attributed to inflation but that does factor into the increase at least a little bit.
You should want new hires to make as much as possible because you will be making more than them. When there is a market adjustment (two years ago you said the starting salary at your firm was $62k and now it’s $70k) it causes compression but all the other salaries are increased so that existing staff make more than the new staff.