how to ask for specific raise Bloomberg SWE
What would be the best way to ask for specific raise during EVAL from my manager? basically I am interested in >=18% raise since that will offset my one time signon bonus of this year. this way I will make same money or more next year. is this possible? i want to make it sound very resonable so i have leverage and it is easy for my manager to justify me in front of his superiors. currently 155k base + 15k bonus + 35k signon and 18% raise will keep TC next year to 205k ws well. #bloomberg #tech #comp
YOE?
Industry <1, but PhD. Couple of faang interns
That’s not how comp at any company works. High performers can get 15%+ raises sure, but you’d have to really show that you’re a high performer. No one’s going to hand out a casual 18% raise just because you asked for it.
How would you define high performance? I think it is quite subjective! I am interested i. Giving my best to ensure i have most leverage but even after that i need good argument.
Do you go above and beyond for your team? Have initiatives for projects and continue to want to improve your product without your manager telling you what to do? If you just pick up tickets and do what people expect of you, then you’ll probably just meet expectations, which is not a top-performer move.
Sounds like your going to post the same thing next year, so consider moving to a better paying company.
Lol. Who knows i might surprise you
Are you an FSD? Looks like it. And based on that, they surely won't do that. Average first year FSD raises are around 7-12% depending on your current TC
So doesn’t depend on performance but on current comp? Yeah fsd!
I haven’t seen FSD comp heavily differing one another with the exception of signing bonuses.
18% is huge for an internal raise, especially now. I'd suggest getting a competing offer and threatening to walk, otherwise I don't see why a company would entertain such a number. Also signon typically isn't counted as TC, since it's a one time thing. I don't think a company would respond well to your reasoning.
So what’s the average number like? Any argument you can think of that can keep it upwards of 10%?
Not sure what averages are like for Bloomberg but 10% would usually be reserved for top performers. 5% is more realistic for good performers, 2% for average/bad. If you have a competing offer they are more likely to go higher, but you have to be willing to walk away and take the new offer. This is by far the most common way of getting huge salary bumps. Think about it, why pay more for a product that you can get for less? Unless they're worried about losing you, they have no incentive to budge. Plus, who knows, you might be worth <200k at Bloomberg and >300k at FAANG if you interview well.