{ "media_type": "text", "post_content": "What do you recommend for a high performing senior manager to do in order to increase their compensation? I have always been rated very high relative to my peers, and I have never wanted to use another offer to get more money...but it seems I am still underpaid relative to market/some peers who aren’t homegrown. How do you feel when someone leverages another offer to get more money - do you trust them/feel the same affinity for them afterwards? Is there another better way?", "post_id": "6104bc4bc0ac2e0021303d9f", "reply_count": 10, "vote_count": 4, "bowl_id": "5902937c77e26a00105a5bd9", "bowl_name": "Partner One" }

What do you recommend for a high performing senior manager to do in order to increase their compensation? I have always been rated very high relative to my peers, and I have never wanted to use another offer to get more money...but it seems I am still underpaid relative to market/some peers who aren’t homegrown. How do you feel when someone leverages another offer to get more money - do you trust them/feel the same affinity for them afterwards? Is there another better way?

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That's me. Have a great mentor in a partner and was always rated very highly leading to fast track progression, but without any commensurate increase in TC. Gave subtle hints about my low comp when compared to external hires, which were acknowledged but never acted upon. Finally jumped ship after 2 years to get this corrected!

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The game, as it’s currently set up, is to make partner, as P2 says. Being “underpaid” at the SA or SM level by $10k or even $50k relative to someone else at another firm is chump change in the long run. The money you will make as a partner will dwarf those differences. Also recognize that if you jump ship for more money at another firm, you’ll likely stagnate there for a while, and you’ll have to rebuild the network you need to build your partner case. Now, an argument could be made that the game should be changed, that the model of “paying your dues” to grow through the ranks is antiquated. It might be that the carrot of partnership isn’t as alluring as it once was. (I mean, where are the private dining rooms and restrooms of yore?) But I haven’t seen a different viable business model out forward, and there are a lot of interests vested in the current game

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What size is that firm? I hear a lot of people thinking they can make PPMD at a small firm and then leverage that into DEP or DEMD at a large firm. Not at all how it works. Smaller firms’ partners are my new sr managers, or MD at best

Have a job offer in hand with high comps and be willing to go

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Getting promoted is the best way. Financial investment into senior managers is generally not as significant, if you look at it at a firm level - it’s not the level most firms are bleeding from and most don’t have a shortage of talent. That said, have a serious conversation about this with your practice leader. If you’re a high performer with Part we potential, they will do everything they can. I certainly have. Honestly, at this level, if you feel like you need a competing offer to have this type of a conversation, you really don’t have the right relationships; and if you’re a more senior SM, I’d take a step back and reassess my brand and future.

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Make partner. Not trying to be flip. That’s the answer.

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When I finally decided to quit, they were willing to give a 40% raise. I think unfortunately this is reality, you have to have an offer in hand and be willing to take it. (i still quit)

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