Is this a good long-term yearly salary review policy? I prefer raises over bonuses because bonuses are quickly forgotten and a raise is a recurring reminder to do a good job.pic.twitter.com/Gl1jpPL3lS
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So in terms of retention, maybe that’s a good thing
You mean when you change jobs new employers unaccustomed to big finance industry bonuses won’t match? Only good for retention if you change industry I think.
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Kind of, OW was fairly unique, other consulting firms typically have higher base and lower bonuses (with comparable total comp). If I’d switched to another consulting firm, I would’ve maintained / increased comp. Generally uncommon to have comp so bonus based outside finance.
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3g, a finance firm by origin is the only company I know of that does stuff like this. I think the success of their methods is fantasy.
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I think your point is a good one. Small firms will be flexible and pay you what they think you’re worth. Big companies have inflexible salary bands and maybe hard to win over your employees, perhaps even more so if bonus heavy
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I'm reminded a lot of Made in Japan. In some ways, I think the Japanese method is superior.
End of conversation
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