#JobBonus #UpperManagement #CommunicationSkills #EquityResearch
Are you feeling undervalued by your bonus and wondering if it’s time to have a conversation with upper management? It can be a difficult and awkward situation to navigate, but it’s important to address your concerns and advocate for yourself in the workplace. In this article, we’ll discuss how to approach upper management about your bonus and offer some tips on what to say during the conversation.
When it comes to discussing your bonus with upper management, it’s essential to approach the situation with a level head and a clear plan. Here are some steps to consider before having the conversation:
Assess the Situation
Take a step back and evaluate the context around your bonus. Consider factors such as your performance, company financials, and industry trends. This will help you understand whether your bonus is truly an insult or if there may be underlying reasons for the amount you received.
Gather Data
If possible, gather data to support your case. This could include performance reviews, sales figures, or any other metrics that demonstrate your contributions to the company. Having tangible evidence can strengthen your argument when discussing your bonus with upper management.
Consider Your Relationship with Upper Management
Think about your existing relationship with upper management. Have they been approachable and receptive to feedback in the past, or do you anticipate a challenging conversation? Understanding the dynamics of your professional relationship can help you prepare for the discussion.
Develop a Plan
Before reaching out to upper management, develop a plan for the conversation. Consider what you want to achieve and outline key points you want to address during the call or meeting. Having a clear plan in place can help you articulate your concerns effectively and stay focused during the discussion.
Craft Your Message
When it comes to discussing your bonus with upper management, it’s crucial to articulate your message clearly and professionally. Here are some tips on what to say during the conversation:
Express Your Appreciation
Start the conversation by expressing gratitude for the opportunity to discuss your bonus. This sets a positive tone for the discussion and demonstrates that you value open communication with upper management.
State Your Concerns
Be honest about your feelings regarding your bonus. Use “I” statements to communicate how the situation has impacted you personally. For example, you could say, “I felt disappointed when I received my bonus because I had worked diligently throughout the year.”
Present Supporting Evidence
If you’ve gathered data to support your case, present it in a clear and concise manner. For example, you could say, “I have consistently met or exceeded my performance targets, as evidenced by my performance reviews and sales figures.”
Request Feedback
Ask for feedback on the factors that influenced your bonus amount. This can help you better understand the decision-making process and identify areas for improvement in the future.
Seek Resolution
Express your desire to find a resolution that is fair and mutually beneficial. This could involve discussing potential ways to increase your bonus or seeking clarity on the performance metrics that impact bonus calculations.
Follow Up
After the conversation, follow up with a thank-you email or message to reiterate your appreciation for the discussion and any agreed-upon action points. This demonstrates professionalism and reinforces your commitment to finding a resolution.
In conclusion, discussing your bonus with upper management can be a daunting task, but it’s essential to address your concerns and advocate for yourself in the workplace. By approaching the situation with a clear plan, gathering supporting evidence, and articulating your message effectively, you can navigate the conversation with confidence. Remember that open communication with upper management can lead to a better understanding of your bonus and potentially improve your future compensation. Good luck! 🌟
Go to buyside (but I mean also shit bonuses this year for most hedge funds)
Emailing your md/partner isn’t going to change anything
I don’t have advice but if it’s any consolation my bonus last year was $500, lol.
Some places pay you and that’s what you get, you take it and leave or take it and stay. The only person who could possibly change it is someone so far above you you’ll probably be pushed out the door if not completely ignored.
Sorry to hear that. If I were you I’d start interviewing asap. Not a good sign.
When you say you cry a lot, you mean at work? Doesn’t sound like this is a good fit for you and seems they’ve come to the same conclusion.
When you say “completely flat” what do you mean? Did your salary go up at all? Does your firm look at total comp or salary and bonus separately?
What’s your base?
Yea that’s awful but that’s how sell side is. My gf hasn’t gotten a bonus the last two years and actually just got laid off this past November.
Front office people love to brag about being in the front office until 50% of your TC is bonus that you never get.
RIP
BB comp way down this year
A bonus under $5k is asking why you’re still here
BofA?
Most BB Firms were flat or decrease in compensation this year. Of course management got their raises but not for the foot soldiers.Â
How often are you working from home?
Based on what I’ve been seeing / hearing about IB bonuses (and I know ER is different but they’re certainly correlated) this year (and frankly even last year for some as well), bonuses are hit and miss by bank at best. A lot of banks paying much lower bonuses, especially if your frame of comparison is 2021 which was an insane year for deal volume and also saw a ton of market comp increases across the street.
Might be worth talking to an MD or equivalent but I wouldn’t be accusatory or emotional about it and rather try to understand if it’s based on performance or bonuses are down across the board in your group / bank
But regardless 5 figures is terrible but hiring market is slow so it might be tough to lateral but maybe look into it
A lot of others haven’t touched on the fact you’re a 3rd year ASO and your analyst class/new associates got better. If you are in the FO, this is a pushout bonus and next year I would expect to be asked to resign or to find another internal team. I’m sorry. 3rd year ASO is generally when people already have left (in better markets, not so much this year) for more lucrative jobs or on the track to be considered for VP.
Sat in a similar position at a bulge bracket at one point, my bonus was actually completely non reflective of myself (even though it was flat) I thought I was doing bad, and my MD / the US head / my director all had a transparent convo that woke me up to the truth about the industry – it was all politics around the greater bonus pool. The global head basically gave no push back to the executives about our departments bonus pool, announced that everyone is replaceable, and ultimately in regards to me specifically my team said I was in line with what they consider a “A-“ performance, they would hate to lose me but had to pay what they consider “the new normal”, and I could either live with it or find a new job, but they wouldn’t hold it against me. I eventually did leave and they were supportive of it, YMMV on that part however.
My point is, nothings going to change your bonus it’s long been set in stone, and if you are junior it really is largely out of your control, top vs bottom bucket beneath VP is kind of menial all things considered, but definitely don’t feel scared to discuss what the number means for you, the greater department and how your team feels about your future. You will likely get the truth.
Bonus pools across the industry are down some 25-35% and the European banks haven’t even announced theirs yet, I’m hearing that DB and Swiss bank will be reporting bonuses down over 50% and entire desks having meetings elsewhere due to the rage caused by this. All should be unfolding over the course of the next two weeks, get your popcorn ready.
How much does Equity Research use India consultants Acuity?
The ol’ donut this year (basically what you got) is the age old sign that you’ll be part of next years rounds of cuts.
Polish that resume and go elsewhere.
In my 2nd year I got a disappointing bonus (ER). I first went to my MD and asked him about it. He was clearly upset as well and we put together some points to go back to mgmt. I got a meeting with one of the dept head types. She told me if you don’t like the comp, you can go to the buy side. I was shocked. But she was right.
Candace let you down?
What’s total comp? Out of curiosity
I think there is only upside to having a conversation. Would frame it as getting advice on what you can do or change to improve payout for next year. They’ll probably say something along the lines of this being a shit year, comp down across the street, high level of uncertainty, etc. If I were your boss and I was trying to push you out, I wouldn’t waste time on giving you pointers – so maybe that could be a signal.
Before any chats with your boss, might be worth getting a sanity check with your peers on what they know.
You don’t have a year-end career development meeting with your manager? That’s where you would ask questions like this.
Do you know how your bonus is computed? Did your firm make profits last year?
Usually it’s a mix of company performance x personal performance x digression of boss.
Worth having a convo about how they came to the figure?
Bonuses were decided weeks/months ago. You can complain to senior folks all you want, but it will not be changed. The only thing you can negotiate at this point is your salary with another offer in hand, and if they just stiffed you on bonus odds are they’re going to wish you well with your new employer.
you are complaining as if something will happen. youre just another number at a bb. either accept it or jump ship. its not rocket science
Go talk to recruiters and line something up. If you want to negotiate at that point do it, but negotiating comp when you aren’t willing to quit rarely goes well.
Are you with BofA? They had their bonus comp discussions today.