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What are your experiences/tips when it comes to going for a raise. Been at new job for 7+ months and feel total comp is not in line with market; 2y total exp

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You probably should have negotiated for a higher salary when you were hired. It’s very rare that you’ll get a good raise after your first year (many companies pro rate raises if you started mid year). If I were you I would try to get promoted and renegotiate then. That said, you could have a conversation with your manager and show them how you’re exceeding the expectations of your current position giving hard evidence (completed projects that have impacted your org) that you’ve been contributing strongly already. Also bring market data/research for your position. I would recommend against this though because 7 months definitely isn’t enough time at a company to warrant a big raise simply because it’s very hard to make a big impact in that amount of time. Again you should have negotiated for a bigger salary before getting hired.

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+1

Honestly after seven months asking for a raise is a bit much unless you have completed a big project or done something over and beyond. If I had someone on my team asked that I would either politely tell them no immediately or take it to my boss and she would less than politely tell me to tell them no.
That being said, if you feel that it’s appropriate good for you, build that base salary early on.

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Don’t wait, and have a hard number in mind. If you ask and they say no (even after proving your case with quantifiable results) you can either ask them what you could be doing to earn that raise, or start planning your exit. It’s better to know sooner than later especially if you feel underpaid. You don’t want to walk around with that feeling of being under appreciated when all you had to do was ask. And remember it’s a candidates market and we have double digit inflation with $5-6/gal gas.

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The only way you will get a raise is to apply to a similar position, interview and get an offer then show the offer to your manager or HR and hope they match it

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It’s difficult to do much that fresh into a role, negotiations really should have been done prior to accepting the role if you felt it was not in line with market.

I would have a conversation with your manager that having been in the role a few months you don’t feel like the compensation is in line with market and expectations for the role. But I wouldn’t expect them to be able to do anything intrayear.

It’s more to set the tone at mid-year for year-end and for them to know you’re not thrilled with the comp so it’s fresh in their mind for budgeting for year end compensation review.

The only other way is to take a new role (which most firms don’t allow internal mobility until you’ve been in your current role at least one year) and if you go external you run the risk of looking like a jumper on your resume.

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It's non existence at this point you have to be superior to get a raise. Based in my experience you have to move out to different positions to get raises otherwise you will be stack.

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If you have data points around you that you can leverage that could be helpful. Your performance also matters of course. Getting an external offer in line with the market always helps too.

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Need a lot more info - what’s your job? Are you performing well? What are you making? What do you think the market is commanding? Where do you live?

helpful

7 months in would be super ballsy, and you are roughly where you should be in that field, maybe just under average with 2 years exp. Shoot your shot. 90-95 is a good target.

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Both honestly. Only you really know the probability of success deep down, or if it could lead to problems. It's ballsy but not improbable

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Honestly the job market is very hot right now. Especially in finance people right out of college make at least 85k in base. Sell side and buy side are different in terms of pay but you can use that to your advantage and interview at other places. Additionally you should have a conversation asap before comp decisions that are made and try your best if you can to point to specific PnL that you have generated and try to compare yourself to people above you. If you think you’re doing a better job that someone that might be at a higher level and slightly less well than an even higher level give them a range and say that you have been performing within that band and should be compensated as such. That way you don’t cap yourself and you stand to gain by including the higher tier (think heuristics). Fact is that the junior people especially high performing women in finance have more leverage and power than they have had ever before.

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Would need to understand more specifics around your role and how you’ve made an impact, exceeding expectations 7 months in. Often 2 years of experience is considered entry level. For corporate finance, 80k sounds very competitive. Now if it’s a startup or investment banking, that’s a different story…

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I agree with the folks who said 7 months isn’t long enough in seat to merit an automatic raise, unless you’ve outperformed the crap out of your role. It’s not this company’s fault that you didn’t negotiate higher comp at the time you were faced with the offer. If you can put together a solid business case with several examples of how you are a complete rock star, there’s a chance you’ll see an adjustment during comp season. But as a relatively junior staffer I’m not sure you have much other leverage unless you were to get an external offer.

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I can’t believe these responses! This is why citi pays garbage because of this mind set and employees have allowed this firm to get away with it . Ask ask ask! Let’s not forget inflation almost 9%, means we’re almost 9% poorer than last year..That aside, make a case about what you bring to the table and also leverage external job offers. Companies can’t afford to loose trained employees, they can’t even find normal candidates.

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Just ask, if you don’t ask you’re not gonna know. Market is widely different than it was 7 months ago.

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Boston based FA, total comp just under 80k
Didn’t negotiate salary at entry because I had to ask them to let me finish interview process with another company (potential red flag by them/dumb move by me). Just annoyed that I basically hit reset button after the job move in terms of timing for raise/promotion and I’m stuck at the same entry level salary (imo) as I was when I came out of undergrad. In terms of reasoning: inflation/cost of living increase, scope of job increasing fairly rapidly, feel as though performing well/making impact, competitive wages increasing. Not sure if it matters but team is only 4, cfo / vp / finance manager/ myself

Who generates the revenue? Do you help with that?

Agree, just ask. Everyone's opinion is based in their own experience.

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I usually prefer in hand salary 😇
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