Just found out that end of the year I will be promoted from analyst directly to VP and since it’s such a large jump I’ll be the lowest paid VP in asset management at only $135k TC. Should I stay it out and wait for TC to align or take the promotion and jump ship bc I will likely get paid more elsewhere given how recruiters/other companies eat up hiring recently promoted ppl from other firms?

likeupliftinghelpfulfunny
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What is your comp now? I would take it and use that title after a year to sell myself for more externally. I would want to learn the VP responsibilities first and let the job title mature more before jumping ship. You will be able to make a 30-50% raise by switching firms after this if you position yourself well

likesmart

I agree completely with A1

like

Always jump but only after 1 and a half years, don’t tell the new hiring manager or recruiter your current salary, do some market research and find out market rate for each place (glass door) and give them a range you will expect else you will cap the upwards amount you can get mate if you tell them your current salary they will then low ball you. I got 32.5% increase when I moved role earlier this month but capped myself by mentioning my current salary and a low range, friend who works there was given a few thousand more (I’ve since sorted by talking with HR - wasn’t desperate to join and had multiple offers on the table so had leverage)

The thing about counter offers with your current employer is that once they know you looked elsewhere they don’t consider you loyal anymore and start looking for your replacement on top of that the fact they low balled you for “experience” means they won’t consider a serious raise for the responsibility and do you really want to work for somewhere that doesn’t value your time but just wants your ability?

likesmart

Agreed

I’d get the title then jump ship and leverage that since you’d have receipts of the jump.

likefunny

Careful not to jump too soon, I’d give it 12-18mth if your wallet can bare.

like

Make the jump, stay a year and jump to a new firm. Gets that title solidified and gets you through the economic uncertainty of ‘23 as lowest salary VP so you’ll be low on chopping line. Jump in ‘24 to new company for big bump.

like

Yeah i would take the title because it shows growth on your resume, stay for a little bit, then go somewhere else

like

I would stay and get that title, then jump ship.

likehelpful

Being the lowest paid at great performance is a good entry point to get substantial raises in subsequent years.

Also, do not undervalue the mark you made on the people currently around you.
The perception that you are a superstar can accelerate your next promotion because of the opportunities you will be given. It is a self-reinforcing cycle and it is not a given that people in a new place are going to think the same about you and give you the same opportunities. In short: don’t jump ship for little difference not too quickly.

like

Take it, wait out the worst of the recession and jump.

likesmart

I’d Definitely take the title and promo and re evaluate a year in if you feel underpaid and make a jump/negotiate higher salary . However, I’d tread cautiously with leaving quickly for a small one time increase.That’s a huge move up. You could be being pegged for executive leadership and being fast tracked.. that changes if you switch firms. Lastly Op Could you provide insight on how you were able to skip a level?

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likehelpful

Is there any room for negotiation?

like

Product Owner 1, Citi is notorious for that LOL

Are the associates making more than you?

likesmart

I’m making the same as a high end associate now

I’m an AVP and make less than $100K a year. Take it and run

likefunny

You should at-least take it for a little bit , if you jump ship on 5m it’ll be easier to move to another vp lvl roll

like

I'll stay in to have the experience as a VP, and then you could consider the possibilities. Don't forget that you are currently an analyst, so become a VP and plan forward. Good luck.

like

What’s your role? Your TC seems really low

like

Leave your current company, take your title, get paid appropriately for your title. Go back to your old company down the road.

Get the promotion. Continue performing and mastering the new role. Continue negotiating internally and if all else fails market yourself externally. Being the lowest paid performer should mean more upside in the years to come. PM me if you want to talk

It’s a red flag they’re promoting you that much. 135k total comp is a good offer for an associate which you will effectively be

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