We are a small firm in the Midwest. Our total non-attorney staff is less than 20. We are looking at our annual raises in February, and some partners on our staff compensation committee have suggested a 5% wage increase across the board to combat inflation. In addition, there would be some staff that receive more based upon merit. I am concerned about doing this for a variety of reasons. For one, we had moved away from non-merit based raises. Also, itwould very likely result in a pay cut for me.

like
Posting as :
works at
You are currently posting as works at

I feel your pain but if you don’t keep pace with inflation you’re likely to lose people to other firms where they can make more. When people leave, you have replacement costs — it may take time to find a replacement, you may have to pay that person more than the last one and it may not work out.

Bite the bullet and pay your people. Your true compensation comes in the form of your freedom from big firm tyranny and stupidity. Make your life easy — that’s the goal!

like

I am in the Midwest and our Christmas bonuses were insulting. We are doing merit based reviews now, but the scale is very low even for the top performers I suggested much more in terms of bonuses and for merit bonuses, but was ultimately out voted. I am sure we are going to lose a lot of people and we are already a small firm.

like

It sounds like your firm is already ahead of the curve. If you already made adjustments, I think merit based increases for some are more than appropriate.

like

We only do merit increases. This year, we’ll adjust the raise for ok performance up to account for inflation but won’t give mediocre or poor performers a 5% raise for inflation. Not worried about those people leaving.

like

I can relate to the pain, but the reality is that if you only do merit based raises you’re not giving raises at all. If someone has to bust their ass just to keep up with inflation, there’s no incentive. You will lose talent and more business in the long run.

like

I am not opposed to taking a pay cut for some of them, but not all. Also, the increase is permanent. It is not like once we are through the recession, you can take back the inflation raise. In addition, we went through a thorough evaluation of everyone's pay last year and made adjustments where necessary to make sure we were paying market rate. I should also mention we gave everyone a 5% bonus last month, and last year, it was a 7% bonus. What is everyone else doing with raises/inflation?

Related Posts

Texans. Just got an offer from a V10 to relocate down and do litigation. Excited but the offer was 20k below market. Talked to managing partner and they said it’s the market in Houston so if I can find other firms paying full market they will raise it since I’ll be the only jr. - mid level. So give me names, who pays cravath in Houston?

like

Exited M level consulting for a f500 D role in the $250-$300 range. Early 30s now - comp seems relatively standard for that level and YOE.

What’s the best way to get a significant bump? Stay where i am and try to angle my way into a higher level, or are there places where i could be doing much better?

Kids are expensive lol so trying to figure out how best to make more.

like

Can intern salary predict full time salary? I’ll be making 24/hr this summer 36/hr overtime.

like

How do you know if your getting paid your worth? Accepted a job offer and haven’t started yet but I’m questioning the offer 😕

likehelpful

Crowd sourcing my dilemma: joining a very successful 4 yrs old start-up for an executive level role (short term increase in comp is 200%) vs staying 2 more years at B4 with very high possibility of partner promotion?

like

How much does KPMG KGS offer for
Role: Consultant
Location: Pune
YOE: 9
Profile: BA, Financial Services Solutions

What is average salary of DevOps MTS( memeber of technical staff) for 2+ yrs experience in SalesForce?

like

Hi! I have a quick question and could use some advice:

I have 1 job offer that is an hour away and pays 45k, after negotiations (Research Associate Position at a University) .

I have just interviewed for a position closer to home and a base salary of 65k, but haven’t heard back from them in about 2 days (He said he would make a decision by yesterday and I’ve reached out).
I have to decide on the first offer by Thursday but I haven’t heard back from the second yet. Thoughts on next move?

likesmartfunny

My practice in S&C is transfering to SONG, effective September 1st. What is the likelyhood of getting f* from a compensation standpoint ? Zero chance that I put SONG on linkedin 😩😅

likefunny

😇 word on street is that we are all getting pay increases next cycle

like

Anyone know when we get our bonus as a new joiner?

like

How much devops engineer can earn with 1yr relevant experience and 5yrs industry experience?

like

Hi all. I am trying to determine if I am being compensated fairly. I am a tax manager (about to start my second year as manager) and have been with EY since staff 1. I was promoted to manager in June 2020 (during covid) and received a 7.5% raise. The class above me has mentioned they received much higher raises during their promotion years. My base salary is now approx. 97K. Any insights would be extremely helpful. Thanks!

like

$215 OTE ( $165/50) + $15 RSU, usually exceed goal (4+ years) and get about $240. Other - 3x Presidents Club (Hawaii, Cancun, $15 payout for 2020).

5 years at this company.

Data Platform, very technical sale, SMB. USA.

like
like

Anyone got a six figure base as an AE? Hunting around for companies with 6-fig base and similar commission. Seems to be mostly field / enterprise pay.

like

I’m entering salary negotiations at a Fortune 500 company and am looking for trustworthy resources for salary data that I can share with the company if they ask where I got my numbers. I know Glassdoor, but what else?

like

After uploading documents in Bosch First Services one week ago, there was no update from them, when I replied to them via mail - They said we will get back to you.Is this sign of getting compensation breakup or they looking for other candidates.I have offer from CGI and only 3 days is remaining to accept.What should I do in this case?As CGI has said if you don't join after accepting offer we will blacklist you.

like

I am planning to shift to Dubai with my wife. Looking for opportunities.
Hi!
I have 14 plus yrs of total experience with 9+ years of experience in Java, Springboot and Microservices. I work as Tech Lead.
My 13 years of Work experience is in Financial Domain.
1. How much Salary should I expect ?
2. How much is enough to live in Dubai in a good way without compromising on lifestyle.
3. My current CTC is 37 Lakhs INR (Inhand 227000 per month)
Thanks in advance

like

CFGI offers anyone recently? Consultant level NYC what did you get offered

like

More Posts

Hi fishes, I joined as Senior Consultant at deloitte on 6th June.
Is it better to go Deloitte internal project or wait for client project?
Skills: Full stack developer java

like

Actively referring folks with ServiceNow and low code backgrounds looking to learn/move into cyber, should anyone be looking or interested.

like

T-Systems ICT India Pvt. Ltd. Pune or NTT DATA Noida HUMANA project which one is good for WLB and job security ?

like

So engineers can now automate the writing of basic code, and potentially more complex tasks, by using GPT-3.

For those who are technical: If machines can write code, how are you going to upskill? And what are the best ways make yourself indispensable?

I am not embracing the notion that you shouldn't have to code to do data science. However, I think coding may soon be much less of a competitive advantage.

like

Anyone else super unimpressed with administrative support with a new firm after lateraling? I told a partner I’d just take care of a routine task myself. He told me my rate is too high and to use a “project manager” (basically an intern they can pay less than a paralegal). We have a 40 person group and 3 project managers making starvation wages. Big firm. You’d know the name.

like

I am Digital content producer in Austin, looking for job. Anyone know any company’s hiring at the moment?

like

I just found out a new colleague was brought on at 20% higher salary than my current salary. (Have been w/ firm 1.5 years) She doesn’t have a 4-year degree (working on it). How do I bring this inequity up and ask to be compensated equally? I have years more experience and My work is more complex - she is basically a receptionist. Any suggestions would be helpful!

like

Planning on leaving after this busy season. Finding it hard to have motivation, while also having to work more hours than ever before. Advice?

like

How long Schneider Electric takes to release offer letter???

Any BCBA’s in the Memphis area? I’ll be relocating there soon and testing. Looking to meet others in the field!

Hi Everyone - I was hoping someone could throw some light on the kind of work trust and safety does. I see a lot of open roles - managers, senior strategists etc. I have a top 20 MBA and about 8 years of big 4 experience in consulting - would this be the right kind of role to get into? Or is it more engineering?

likehelpful

Is AVEVA good company to join as Project Manager?

like

Best way to learn / manage flows. As a functional person???...haven’t wrapped my head around complex flows built by others. And not trailhead

like

Hi everyone,
Anybody need any referrals for -

1. Java (3+, 6+Y Noida)
2. QA lead (2-3Y BLR)
3. ReactJs (5+ Chennai)
4. Devops (8-10, Nagpur)
5. C++ (Nagpur)

It’s so nice that every agency laying off people, have those left standing (and other agencies) trying to hustle jobs for their unemployed friends, but there are also a ton of people who were unemployed prior to Covid...so no severance, job hunting lot longer, and not earning income for longer time...hurting even MORE due to quarantine.

likesmarthelpful

Can anybody suggest any books or resources to get smart on medical device marketing and/or medical device manufacturing?

like

Anyone heard about LSC?

like

Looking for referrals to major Life Sciences consulting positions for strategy/analytics in Toronto/ Canada.

Please and thank you!

Master’s in biotech from McGill. Tons of research experience, pretty solid resume, 3+ years of translational research, 1+ year of consulting experience. And rich profile.

like

So whose tryna watch Dvorak later at Grant Park? 🤔 🐠

like

If you had to guess when oncycle will be, what would you say? I’ve heard funds were disappointed by participation rates and quality last time, so I’m curious to see if they can show enough discipline to wait this year.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal