“i think that response is a little over the top, if hes getting offers from other employers but wants to stay with the current one what harm is it in letting his current employer know about it so they can work somehting out?” Because if I were his employer, I would think 2 things about this situation. 1) This kid thinks his knowledge and skills are much higher than they really are. 2) He is going to be an employee always looking after himself. He will be a pain about compensation the whole time he is here. He will always be looking for another opportunity. Thus, I cannot count on him sticking around. Attrition is very costly in most finance jobs. I probably wouldn’t fire him if he came to me in this situation, but I would suggest that he take the other offer. I would rather cut my losses and start fresh with someone else. I want employees that are motiviated by the work not the money. If they are into the work, the money will eventually be there.
[Insert Gordon Gekko Greed Speech here] too lazy to cut and paste off imdb
If you have you have a firm offer in writing from another employer offering the 25% increase in pay, I would ask for the raise. That’s what the market will clear. Otherwise, you are bluffing, which sometimes works, but is tenuous position for a guy with a mere 2 months of experience. Most people in their early 20’s have an outsized view of their importance to the firm, but generally, a college grad is seen as a commodity. You seem to be in a good spot with an opportunity to really leapfrog a couple of rungs on the ‘experience’ ladder. As others have said, that experience will be worth multiples of your current income, rather than the few K’s for which you seem to be hankering.
JWS Wrote: ------------------------------------------------------- > 2 freaking months and you want a raise? I would > send you packing if I were your boss. You agreed > to work at a certain amount. It was very generous > that they have you a 12% raise so quickly. Pay > your dues! Do you really want to put on a resume > that you worked some place for 2 freaking months? > That will cost you much more down the road. It > shows a lack of committment and a lack of > integrity. > > And if you think you can merely leave that little > 2 month job off the resume, you will be nailed in > a background check and blackballed. I know it > sucks making little money with no experience. > However, you have to pay your dues in this > industry unless you have a $100k education. > > I made crap for 5 years, and then my income > started increasing by multiples. I made senior PM > in 6 years. Employers started calling me weekly > even though I wasn’t looking. I padded my resume, > added valuable experience, and those 5 years will > now pay off my entire career. Look at the big > picture not your next paycheck. They can’t send me packing, hence why HR came to me the 2nd the two senior guys handed in their two weeks with a new offer for me. I am the only one in the department that has a decent enough understanding of the operations (technical). If i was to jump ship, they would be a mess, it will be a mess regardless now that the other two are gone, but myself, and my manager can definitely pull through. I don’t want to bail because we are currently in a sinking ship, i’d be last guy to bail on this especially after they gave me the opportunity to work in their company while not having met the work/educational requirements. I like my manager, and the people i work with as well. All i am saying is that i think it’s fair game to ask for a raise that’s at least a halfway point of what i make now and what the senior guys made. Considering i have been and will be doing the same work as them, i don’t see how it’s not fair? Just because i haven’t done the same job for 10 years before is a shitty excuse, if i am capable of doing it at this point, then why not bump up my wage. This is the only time i have to ask for this as i can leverage the situation, it’s a dirty move, but i come first. On the other hand, i won’t jump ship and will stay with the company and don’t want to hurt my relationship with the manager/hr. To whoever asked, the 2 senior guys left because the experience they got from this company is fairly respected, they put in their time and got management positions at different companies.
JWS Wrote: ------------------------------------------------------- > “i think that response is a little over the top, > if hes getting offers from other employers but > wants to stay with the current one what harm is it > in letting his current employer know about it so > they can work somehting out?” > > Because if I were his employer, I would think 2 > things about this situation. 1) This kid thinks > his knowledge and skills are much higher than they > really are. 2) He is going to be an employee > always looking after himself. He will be a pain > about compensation the whole time he is here. He > will always be looking for another opportunity. > Thus, I cannot count on him sticking around. > Attrition is very costly in most finance jobs. > > I probably wouldn’t fire him if he came to me in > this situation, but I would suggest that he take > the other offer. I would rather cut my losses and > start fresh with someone else. I want employees > that are motiviated by the work not the money. If > they are into the work, the money will eventually > be there. WTF is wrong with you man, can you not read? Find some place else to unleash your hatred, shit.
hatred? I am just telling you like it is. You’ve been there 2 months and you think you can match the work of experienced people? If that’s the case, the work you are doing is extemely simple. You sound like you are either dilutional or have a bad attitude. Either way, I think you are in for trouble. This is a highly competitive field. There are always young, hungry, and intelligent people ready to take entry levels jobs. I am simply telling you as someone who has been involved in hiring and managing rookies how I would handle it. If you don’t like it, don’t listen.
And how will the background check unearth the two month stint ? There were no tax receipts or anything like that during the 2 month period right ? JWS Wrote: ------------------------------------------------------- > Do you really want to put on a resume > that you worked some place for 2 freaking months? > That will cost you much more down the road. It > shows a lack of committment and a lack of > integrity. > > And if you think you can merely leave that little > 2 month job off the resume, you will be nailed in > a background check and blackballed.
I’d let them know that you got a 25% higher offer somewhere else but you want to stay put with your current firm. Don’t even ask for a raise, just tell them you got the offer but you want to stay put because you really like the manager/firm. This way they know you’ve been made a higher offer, but they appreciate the fact that you will work for them for less. Then after you pick up more experience you can tell them to pick up the pay and at this point they’ll “owe you one” so it’ll improve your leverage slightly.
Ahhh…I got purchased the coupe…nice ride. undergrad – just got CFA last year. Looking to do MBA in a year or so though the cost of CFA has spoiled me(employer paid for it).