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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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
I worked at a firm where I earned a 25-50% bonus that was never below 37%. New job bonuses are 10% or nothing and raises largely de minimus without promotion, I’d say consist actionable feedback was much more impactful than comp structure as long as comp changed when I met goals
Never below 37% for everyone? A new job bonus is the signing bonus? I'm struggling to understand your last clause.
Sorry, had to heavily edit for twitter length. First sentence was consulting firm. Second sentence about current job. I never had below 37% given I did well / firm never did horribly. Point of last sentence was for me, huge cash bonus or a promotion with a raise didn’t matter
Ah, but were you optimizing for long-term economics instead of short-term? When I was 22 I'd gladly work for people for free. Not anymore.
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.
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.
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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