In recent months, I have had multiple people on my team leave BNY and I am the only person left. Should I finally demand a real raise? 5%+?
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Doubt anything will happen, it’s been only my manager and I for the last 13 months after having a team of 5 and 3 out of the 5 were fired for Office attendance so I took a pretty big work load doing that timeframe and and was rejected a increase or title change just for the company to hire 2 new ppl with higher titles and pay so I pretty much told my manager I’m out the door come January and have no plans on really training the new guys since I’m checked out and only staying to receive my match for my 401K
Good luck but not going to happen. They cut our workforce by 40pct then increased workload by 30pct as we took on others work. We should be paid more with huge bonuses but we won’t. Just being realistic.
My thought is that you are next to go.
Find another job and leave. If they really need you then a good raise may be offered.
If you ask for 5% that wont cover the extra work of doing multiple peoples jobs or training replacements.
The squeaky wheel gets the oil..however in this place, the squeaky wheel gets the door!!!
You can demand all you want but dont hold your breath
Make your ask and further ask that your manager and your manager's manager go to bat for you. If you don't receive your ask, then they shouldn't be surprised if you leave.
I don’t think they will deliver for you. I had some conversations like this with my manager, well supported and intelligent. It did not matter. Senior management has MD level management locked into their way of thinking….which is that no one matters and we need turnover to move forward. New staff does come in at market rate, but there is zero consideration for existing team members. Invest in your skills and in your branding. Build your network and make finding a new role outside a full time job.
They will hire a temp who used to work for an insurance company and has zero industry knowledge. Once you get done bringing them up to speed on the difference between cusip and isin they will leave and you will be doing it all over again. Professional trainer to temps making more then you.
It means the manager is incompetent and d-mb. You should leave asap.
Ask for a 10% increase for yourself and ask when will your management help you hire extra people to help support. Tell them, you are reporting this as a critical risk to the business.
Don’t be surprised if you are told not to worry.
Nah they'll just hire some id--t who knows less than you but will be paid more than you to pick up the work, which you'll have to oversee anyway.
I’d ‘finally’ leave 😀
I left because I was out on a pip, follow thru the pip process by going 110% and didn't see a progress according to my manager