Quote (Erodish @ 24 Sep 2022 03:07)
Hello everyone,
Things are going well - I won't waste much time with details, but things have gone up since my last post requesting advice several months ago.
I took on secondment from September 1st until December 31, 2022, leading into a full-time position as of January 1, 2023. Adjusting compensation meeting on Jan 1 as it's been clearly stated a different pay scale, and "Significant" raise will come with it.
What are some suggestions/tips/good ideas for my upcoming compensation negotiation?
Is there even much negotiation to be done? Or is it all metrics nowadays, and my compensation will be placed somewhere within a grid based on my output numbers?(No subjective input, just objective math etc) If that depends on the business or industry or size of the business, who in the business should I reach out to ask?
I understand that every company is different, but I would happily take anecdotal advice with a grain of salt.
My new role is involved in Risk & Advisory for a large tax & assurance firm.
Thanks in advance - Am very excited as the secondment and first month are going well, planning to start my family and bring our(Wife & I) dreams of kids to fruition soon. This raise would do it, no matter where I land on the scale. But I don't want to leave anything on the table if I don't have to, little more never hurt.
Congrats on landing the secondment.
My humble advise will be:
1. Assimilate into your current role, contribute as much as you can and make a positive impression
2. Make sure to speak to your line manager on the personal development plan(say over the course of 2-3 financial year quarters), this will anchor your position and growth within the department/team
3. Research on the current industry salaries and benchmark your experience against it, you are likely to derive a min/max for your new remuneration expectations
4. Go into the meeting and be a superstar!
all the best mate.
PS: I work as a compliance officer/MLRO for a FI, we're in a similar industry