Good morning All I wanted to share my current situation without going into any details to see if anyone can offer any valuable advise. I’m in my late 30’s and have been working in a BLK ops role for 10 years. The TC has stayed relatively the same and I have been nominated for promotion several times and turned down due to factors outside of my control. There is never any actionable feedback in my reviews, I am told that I am doing a phenominal job. The work load continues to grow and expectations are rising every year. I have been asked to oversee/train junior ppl on the team whom I essentially manage but they do not directly report to me. My direct manager adds no value to the team and spends all day chatting/texting on the phone and complaining how we are underpaid and how we should be looking for an opportunity to move. The one good perk with our group is that we have awesome flexible work arrangements (i.e. working from home) and good hours. Since we have kids and hubby’s job does not offer flexible work arrangements this perk is very important to us. Money has become one of the biggest issues for us since we have high child care expenses that have gone up over the 10 years with no TC increases to compensate. The team is understaffed and most ppl feel stressed and unhappy, it has become a toxic environment to work in where you do not feel appreciated and there is no human factor in how you are treated (its all about perception). I have tried several times to move internally with no luck. I tried looking externally but it is hard to find the flexibility that we need with a competitive TC in similar roles. I can not afford to take a pay cut by moving into a different role. Is there anything better out there if I stay in ops for working parents? I do not want to trade off higher TC for more hours that would take away time with my kids. Would appreciate any meaningful advise ... thank you! TC 115k
You’re at Blackrock and make 115K? WTF is wrong with NYC? I’d say it’s time to start seeking other option. BR only pays you that because they know they can. You’ve allowed them to for a long time. That has to change, leverage your experience, start shopping and don’t disclose your exact salary. Best of luck to you!
This is true. When you go looking for a job, ask 1.2x of what you *want* and then negotiate. You're being taken for a ride right now.
I am at Wells Fargo and making 130k that’s also crazy!!! And I am in my late 30s too.
I think he gave you a hint you should have been moved on tech has a 2 year turnover rate until you get to the level you are comfortable. So start applying and stop wasting time.
Vague scenario here with a lot of variables. Was your manager in your shoes a few years back? Is it possible for them to get promoted to a new role then you fill in their old role, thus getting a promotion? Is it an option for your significant other (I am you’re married but not 100% sure from this post) to get promoted and take on more responsibility while your hours stay flat? Ultimately your family would come out with more at the end of the year.
Man, 10 years? Have your titles varied at least? Your role doesn't sound like progressive experience. Here's my take. 1 - You need to GTFO, they're screwing you. 2 - Your pay is shitty. 3 - You have a solid role, you're likely not going anywhere with your role. 4 - Smell that stink? That's the stench of a recession downwind. This is the big problem. 5 years ago is when you should have F'd off and GTFO of that place. You need to take that risk and TAKE the promotion you earned. Take it somewhere else. Screw your employer- that promotion they promised you and you didn't get - that was them screwing you over. Your bosses don't give a crap about you - they think you're lax and they're taking advantage of you. That insulting TC is proof of it.
Ex blackrock here... your best bet is to explore opportunities outside the firm. I was there for 10 years between 2006 and 2016. I had moved around a bit from ops to pag to ishares. Eventually hitting a promotion and pay ceiling. Feed up, I paid a professional resume writer to help redo my resume and help with my linked in profile. That was the best $300 I ever spent. 4 years out and two firms later my income is almost double that of what I was getting at blk. The service I used was called top resume. Having that marketing piece aka..resume is the key to moving on and up.
Can you refer the professional resume writer?
Would like to know as well
I agree with MassMutual, your kind of loyalty is the biggest roadblock to financial (TC) progress. I stayed in one place for a decade after finally getting pissed off enough, I moved on, first jump sucked, so I left after 1 yr. Second jump landed me in my current role. TC went up 100% over the course of two years!
Are you with Slalom? What role and TC if you don’t mind?
I could have written this post it's so similar to where I was up until about 3 weeks ago. I did a few interviews, got an offer making $40k more for the same work, and left the toxic stagnant environment behind. It took me too long to come to the realization you just came to.
This feels a lot like the situation I was in recently. It’s going to be pretty rough coming out of the bubble you were in for 10 yrs. unfortunately better paying jobs normally have high expectations at least until you prove yourself. I’d look for something with that in mind so you aren’t disappointed.
You could probably make more than this in a Sr Ops role in Non Profit or with a Charter School System. NPs would definitely give you the flexibility you want. Former role as Director at a NP TC then was $125k
I can totally see your situation being common among BLK tech and Ops and any Mid office roles too. Overall, it seems toxic and hard to work at. Why not quit, find a new job. Or going to a university and study for CS etc and find a data scientist related work?