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Compensation season has begun!

That time of year, when the gossiping and speculation begins, when some directly ask how much others' raises were (which I think is ridiculous, what a kind of a question is that? Learn some manners), and some try and get a sense from the demeanor of others to see if the raises are good. Every year there's rumors - raises are going to  be great, raises going to be at market, raises are going to be bad. You usually cover the whole spectrum. When the raises are final, some go on rants about how pathetic the raises are. Some think the raises are really good. To those folks - listen, we are constantly underpaid - that is the model and I don't see that changing - so the raises are not good. Yes, the %s might be good, but the total salary for the amount you work - come on! Keep in mind you don't get equity. Especially the people who started in 2008-2009, when we didn't have raises -to you, any raise is a good raise.

People - don't compare your salary to the outside world's salary. Compare your salary to the outside world's salary + bonus + equity. It's not even close sometimes. The Firms try to spew kool-aid stating that our % raises and base salaries are pretty good. What they don't talk about is the equity you get when working in private. It's all about the equity. Keep that in mind.





Comments

Anonymous said…
I'd take more freedom (consistently having 8-9 hour days) over higher compensation--equity or not--any time. Big 4 = modern day slavery / exploitation of the youth. Seriously, life is bigger than your job.
Anonymous said…
Agree. Comparing to the outside is useless.

Now comparing up or down levels in your firm? Everyone does that..

Thank you very much for the info. I have been looking for this info for the last few days. Your efforts are appreciated.

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