I’ve been working with the current asset management company for 1 year and 2 months now, as a junior risk analyst. Just wondering if it is time for me to ask my manager when I can be promoted to the senior level. Is it normal that it takes 2 years to become a senior risk analyst or more? By the way, my company is a small one with 20 people.
These days, no one is retiring or finding work elsewhere, so you got to hope that someone dies to get promoted.
In such a small company, would a promotion be an actual change in your role, or just a new title with hopefully more money. In my experience, small shops like that often have no real defined process for different levels (jr, sr, etc)
I’ve seen companies pull the trick of giving promotions without pay raises.
I’ve worked in a company that was so small, the owner changed my title to suit what client he was talking to,because I had a lot of roles simultaneously: he described me as “co-portfolio manager” (along with him), “director of research,” “director of strategy.” It was nice to hear those roles, but it was also frustrating to feel that we were “all chiefs and no indians.”
I total agree that for small companies, it is very common that the promotion is much more flexible than the big market players.
What is a “senior role” in your company? Sounds like you are asking about a very specific kind of promotion, and you would be best asking your boss about this.
To avoid this, you can find out what the salary ranges are for various corporate titles. This only works in large, stratified organizations. For example, if you are an Associate and the range is 60-80k and you make 75, then you may get more mileage out of asking for a promotion “you feel you’ve earned because…” to Senior Associate or Anlayst that has a range of 80-110k or something. Note, this is for corpoarte titles that have clear salary bands.
Is that the path? jr to sr? or is there a middle ground too…like jr risk analyst --> risk analyst --> sr risk analyst.