Realistic Comp Increase with Doubling Job Responsibilities

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sat May 04, 2019 9:57 am

I'm in a fortunate position where I will be significantly expanding my responsibilities. I currently have 1 direct report, and will be absorbing responsibilities of one of my counterparts who has a team of 3 directs (manager of that team is moving to another group).

I'm excited about the opportunity and will certainly be taking it. Undoubtedly, this will result in more hours. Current hours peak in the 80hr range but steady state is generally around 60hrs.

Initial discussions with management are next week. While my future team would approximately be doubling contributions to the company, I'm surely not expecting to double my all-in comp... but what is the realistic expectation?

Any ideas on how i can think of comp upside in this scenario? Would love feedback from those who have experienced similar moves.

I'm at a top ten bank in US.

Spirit Rider
Posts: 11902
Joined: Fri Mar 02, 2007 2:39 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Spirit Rider » Sat May 04, 2019 10:15 am

I have two observations.

Something is wrong if you are working 60 hours/week steady state with 80 hours/week peaks. You need to find a way to get both down by 20%. You need to prioritize better, improve your time management and learn to delegate better.

More responsibility does not necessarily equate to more pay. In 40+ years of corporate America, I never received or gave significantly increased compensation in such circumstances. It has always been indirect as function of overall job performance.

If you are receiving these additional direct reports as a basis of your job performance. Then go in and blow your own horn as a justification for a significant raise. If this is just an organizational change, tread lightly.

ddurrett896
Posts: 1104
Joined: Wed Nov 05, 2014 3:23 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by ddurrett896 » Sat May 04, 2019 10:17 am

60-80 hours/week?

I’d negotiate increased vacation time in addition to $$.

HomeStretch
Posts: 2926
Joined: Thu Dec 27, 2018 3:06 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by HomeStretch » Sat May 04, 2019 10:48 am

Congratulations on increased responsibilities!

If your job going forward entails supervising 3 more people but no new duties, then you might see a 10-15% bump for this corporate reorganization which upper management might be viewing as a cost savings move.

If your job going forward entails 3 more direct reports plus a whole new area of organizational responsibilities, then a larger bump plus a title/job grade upgrade would be appropriate.

If you currently work 60-80 hours, it seems unrealistic that you can take on the new additional workload without some changes.

IMO before you meet with your supervisor and HR, you need to figure out a plan where you prioritize the team’s responsibilities, improve your/team’s time management and learn to delegate. If you don’t have a plan to free up 40-60 hours a week from the team’s workload so you can delegate 40-60 hours to them, then you need to negotiate for another headcount. For this to make financial sense, the dollar amount of your salary bump and the new headcount cost has to be less than the salary/benefits of the departing manager.

User avatar
TomatoTomahto
Posts: 9547
Joined: Mon Apr 11, 2011 1:48 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by TomatoTomahto » Sat May 04, 2019 10:53 am

If your company has regularly scheduled review and pay increase times, which I assume all top 10 banks in the US have, I am not sure that I would expect an immediate increase. It might happen that way in retail banking, which I'm not familiar with. If you're working those kinds of hours, I have to assume that you're not in retail banking.

Why not tell us more about your job, without naming your employer? What percentage, if any, of your comp is bonus? What are the general bonus guidelines of managers? etc.
Okay, I get it; I won't be political or controversial. The Earth is flat.

User avatar
Watty
Posts: 17623
Joined: Wed Oct 10, 2007 3:55 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Watty » Sat May 04, 2019 11:04 am

HomeStretch wrote:
Sat May 04, 2019 10:48 am
If you currently work 60-80 hours, it seems unrealistic that you can take on the new additional workload without some changes.
+1

Most jobs have occasional crunch times but if you are regularly working those hours that is a sign that something is wrong.

With the new reports the first thing I would do is to delegate a lot of your work to your new staff to get to a reasonable workload.

Some people have a real hard time delegating work but if you can't do that then you should consider getting out of management since that would mean that you are no good it it.

Just FYI, if you have good upper management and they see you constantly working long hours like that when it is not a real crunch then there is a risk that they will see that as a red flag that you are in over your head and they might decide to replace you with a different manager who would not be so overwhelmed by the job.

Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sat May 04, 2019 11:54 am

Appreciate the feedback so far. To answer a few questions, I work on a strategy side of the business. The hours are non-negotiable and are driven by direct projects / requests from executive management. The expanded headcount would come with direct responsibility and accountability for the area I'm not currently overseeing. Current comp is just shy of 300k, with approximately half coming from discretionary (bonus & equity).

Keep the feedback coming!

User avatar
TomatoTomahto
Posts: 9547
Joined: Mon Apr 11, 2011 1:48 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by TomatoTomahto » Sat May 04, 2019 12:25 pm

Current comp is just shy of 300k, with approximately half coming from discretionary (bonus & equity).
IME, at that level, additional comp comes at bonus time. YMMV.
Okay, I get it; I won't be political or controversial. The Earth is flat.

KyleAAA
Posts: 7597
Joined: Wed Jul 01, 2009 5:35 pm
Contact:

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by KyleAAA » Sat May 04, 2019 12:27 pm

Your job responsibilities don’t change that much based on the number of reports you have with a team that small. If you become an m2 then sure. IMO going from 1 to 4 reports is very minor and might not deserve a bump at all.

User avatar
dm200
Posts: 22351
Joined: Mon Feb 26, 2007 2:21 pm
Location: Washington DC area

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by dm200 » Sat May 04, 2019 12:29 pm

Spirit Rider wrote:
Sat May 04, 2019 10:15 am
I have two observations.

Something is wrong if you are working 60 hours/week steady state with 80 hours/week peaks. You need to find a way to get both down by 20%. You need to prioritize better, improve your time management and learn to delegate better.

More responsibility does not necessarily equate to more pay. In 40+ years of corporate America, I never received or gave significantly increased compensation in such circumstances. It has always been indirect as function of overall job performance.

If you are receiving these additional direct reports as a basis of your job performance. Then go in and blow your own horn as a justification for a significant raise. If this is just an organizational change, tread lightly.
Yes - I agree. This sounds like a recipe for "burnout" - no matter how much your compensation.

Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sat May 04, 2019 12:51 pm

TomatoTomahto wrote:
Sat May 04, 2019 12:25 pm
Current comp is just shy of 300k, with approximately half coming from discretionary (bonus & equity).
IME, at that level, additional comp comes at bonus time. YMMV.
I think you're right. But I'm less focused on timing and more so on the ultimate impact on comp (next 1-2yrs).

The 'reorg' is not a cost saving initiative. However, I very much doubt that they would let me absorb all/most of the comp of the manager I'm replacing (at least initially). This is what I'm looking for feedback on. As mentioned, the other manager is currently my counterpart with similar comp structure.

User avatar
TomatoTomahto
Posts: 9547
Joined: Mon Apr 11, 2011 1:48 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by TomatoTomahto » Sat May 04, 2019 12:59 pm

NO WAY are you absorbing all/most of the comp of the manager you’re replacing.

Please don’t take this the wrong way, but you’re thinking like a lower level employee.

ETA: think like a senior manager, and you just might become one.
Okay, I get it; I won't be political or controversial. The Earth is flat.

Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sat May 04, 2019 1:23 pm

TomatoTomahto wrote:
Sat May 04, 2019 12:59 pm
NO WAY are you absorbing all/most of the comp of the manager you’re replacing.

Please don’t take this the wrong way, but you’re thinking like a lower level employee.

ETA: think like a senior manager, and you just might become one.
Please read my posts more carefully.

The point of this thread is to get thoughts on what a reasonable increase might be.

User avatar
TomatoTomahto
Posts: 9547
Joined: Mon Apr 11, 2011 1:48 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by TomatoTomahto » Sat May 04, 2019 1:39 pm

BJJ nerd wrote:
Sat May 04, 2019 1:23 pm
TomatoTomahto wrote:
Sat May 04, 2019 12:59 pm
NO WAY are you absorbing all/most of the comp of the manager you’re replacing.

Please don’t take this the wrong way, but you’re thinking like a lower level employee.

ETA: think like a senior manager, and you just might become one.
Please read my posts more carefully.

The point of this thread is to get thoughts on what a reasonable increase might be.
I read what I read.

FWIW, my wife and I were around your comp level 25 years ago. I became a SAHD 18 years ago, but my wife continued working at a mega bank. She makes a multiple of what she once made.

Good luck. I was offering sincere advice.
Okay, I get it; I won't be political or controversial. The Earth is flat.

Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sat May 04, 2019 2:12 pm

TomatoTomahto wrote:
Sat May 04, 2019 1:39 pm
BJJ nerd wrote:
Sat May 04, 2019 1:23 pm
TomatoTomahto wrote:
Sat May 04, 2019 12:59 pm
NO WAY are you absorbing all/most of the comp of the manager you’re replacing.

Please don’t take this the wrong way, but you’re thinking like a lower level employee.

ETA: think like a senior manager, and you just might become one.
Please read my posts more carefully.

The point of this thread is to get thoughts on what a reasonable increase might be.
I read what I read.

FWIW, my wife and I were around your comp level 25 years ago. I became a SAHD 18 years ago, but my wife continued working at a mega bank. She makes a multiple of what she once made.

Good luck. I was offering sincere advice.
Congrats on very successful career progression by you and your wife... I'm sure it was not easy.

Thanks to HomeStretch for providing the feedback I'm looking for. I'd be happy with +/- 20% increase when all is said and done, but obviously remains to be seen.

HEDGEFUNDIE
Posts: 3651
Joined: Sun Oct 22, 2017 2:06 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by HEDGEFUNDIE » Sat May 04, 2019 2:37 pm

If you are in-house strategy working 60-80 hrs/wk, you should be at least a Sr Director making $350k.

I’m a Strategy Manager (individual contributor) working 40 hrs/wk making $250k.

Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sat May 04, 2019 3:15 pm

HEDGEFUNDIE wrote:
Sat May 04, 2019 2:37 pm
If you are in-house strategy working 60-80 hrs/wk, you should be at least a Sr Director making $350k.

I’m a Strategy Manager (individual contributor) working 40 hrs/wk making $250k.
Are you guys hiring? :D

Newly minted MD here, and have been getting good increases year-over-year. There are many variables that come into play. I'm located in a LCOL area.

On a side note, I'm a big fan of your investment strategy... having been using UPRO and also shorting SPXU (3x bearish S&P500) for quite some time with great results. :sharebeer

User avatar
mhadden1
Posts: 698
Joined: Tue Mar 25, 2014 8:14 pm
Location: North Alabama

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by mhadden1 » Sat May 04, 2019 3:17 pm

In the software world, little jiggles in the corporate family tree where a few underlings report to a different person would typically result in no immediate change to compensation. But, resistance to the change would cause bad blood. Maybe banks are different.
Oh I can't, can I? That's what they said to Thomas Edison, mighty inventor, Thomas Lindberg, mighty flyer,and Thomas Shefsky, mighty like a rose.

User avatar
TomatoTomahto
Posts: 9547
Joined: Mon Apr 11, 2011 1:48 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by TomatoTomahto » Sat May 04, 2019 3:44 pm

mhadden1 wrote:
Sat May 04, 2019 3:17 pm
In the software world, little jiggles in the corporate family tree where a few underlings report to a different person would typically result in no immediate change to compensation. But, resistance to the change would cause bad blood. Maybe banks are different.
IME, banks are not different.
Okay, I get it; I won't be political or controversial. The Earth is flat.

London
Posts: 94
Joined: Sun Dec 11, 2016 11:50 am

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by London » Sat May 04, 2019 7:31 pm

I work for a major investment bank and it doesn’t work the way you describe. At my place, and the other two major banks I’ve worked, you get the job with no immediate change in comp. after you've proven you can do the job (hopefully the next comp cycle), you get an increase that depends on many factors.

If someone asked me for a change in comp due to picking up a few reports, I would instantly think they didn’t know how the industry works.

That said, I work in wholesale (investment) banking. It may be different in retail.

MotoTrojan
Posts: 6871
Joined: Wed Feb 01, 2017 8:39 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by MotoTrojan » Sat May 04, 2019 7:38 pm

BJJ nerd wrote:
Sat May 04, 2019 3:15 pm


On a side note, I'm a big fan of your investment strategy... having been using UPRO and also shorting SPXU (3x bearish S&P500) for quite some time with great results. :sharebeer
Sorry to deviate from your humblebrag (just playing, mostly :sharebeer ) but curious if you are also using TMF or simply riding the bull directly? Good on you for having the gusto to go the short SPXU route.

boogiehead
Posts: 118
Joined: Wed Sep 27, 2017 11:45 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by boogiehead » Sat May 04, 2019 7:51 pm

BJJ nerd wrote:
Sat May 04, 2019 9:57 am
I'm in a fortunate position where I will be significantly expanding my responsibilities. I currently have 1 direct report, and will be absorbing responsibilities of one of my counterparts who has a team of 3 directs (manager of that team is moving to another group).

I'm excited about the opportunity and will certainly be taking it. Undoubtedly, this will result in more hours. Current hours peak in the 80hr range but steady state is generally around 60hrs.

Initial discussions with management are next week. While my future team would approximately be doubling contributions to the company, I'm surely not expecting to double my all-in comp... but what is the realistic expectation?

Any ideas on how i can think of comp upside in this scenario? Would love feedback from those who have experienced similar moves.

I'm at a top ten bank in US.
A couple things... if you are already working 60-80 hours it is impossible to double your job responsibility... you'll be working 120-160 hours a week :shock: instead think how you can delegate more. Second if you are just absorbing someone else's team most likely you won't be getting a significant raise if any, what you want is to negotiate for a promotion that is the only way you would be getting a significant raise.

Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sat May 04, 2019 8:27 pm

London wrote:
Sat May 04, 2019 7:31 pm
I work for a major investment bank and it doesn’t work the way you describe. At my place, and the other two major banks I’ve worked, you get the job with no immediate change in comp. after you've proven you can do the job (hopefully the next comp cycle), you get an increase that depends on many factors.

If someone asked me for a change in comp due to picking up a few reports, I would instantly think they didn’t know how the industry works.

That said, I work in wholesale (investment) banking. It may be different in retail.
Funny you should bring up IBanking - that's where I started my career. As previously mentioned, I'm not talking day 1 increase, but rather a reasonable expectation going 1-2yrs forward.

Lastly, I do not work in retail (or operations) so body count means very little, it's the process and the associated value-add those people create. The process that I would be taking on has roughly equivalent importance compared to what I do currently. Thus the question in the OP.

User avatar
ClevrChico
Posts: 1557
Joined: Tue Apr 03, 2012 8:24 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by ClevrChico » Sun May 05, 2019 9:21 am

After spending a decade in financial with long hours and little reward, I'd say it's likely zero. The best thing I did for comp was to switch industries and swear to never return.

Grasshopper911
Posts: 27
Joined: Sat Apr 29, 2017 7:58 am

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Grasshopper911 » Sun May 05, 2019 11:25 am

Going from 1 direct report to 3 or 4 is not a big change as a leader, if anything you were underutilized (or being tested) if you only managed 1 direct.

I would not expect any pay increase.

I would expect this to grow your experience and enhance your market value. Over time, once proven, this will bring more $ and more responsibility either there or at another company.

It’s ok to ask... because if you don’t ask they can’t say no (and you might even get a yes), but I would be cautious in how you message this as you could errantly send the wrong signal.

Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sun May 05, 2019 11:32 am

Grasshopper911 wrote:
Sun May 05, 2019 11:25 am
Going from 1 direct report to 3 or 4 is not a big change as a leader, if anything you were underutilized (or being tested) if you only managed 1 direct.

I would not expect any pay increase.

I would expect this to grow your experience and enhance your market value. Over time, once proven, this will bring more $ and more responsibility either there or at another company.

It’s ok to ask... because if you don’t ask they can’t say no (and you might even get a yes), but I would be cautious in how you message this as you could errantly send the wrong signal.
This is helpful, thanks.

User avatar
TomatoTomahto
Posts: 9547
Joined: Mon Apr 11, 2011 1:48 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by TomatoTomahto » Sun May 05, 2019 12:35 pm

Grasshopper911 wrote:
Sun May 05, 2019 11:25 am
It’s ok to ask... because if you don’t ask they can’t say no (and you might even get a yes), but I would be cautious in how you message this as you could errantly send the wrong signal.
My wife and I have worked for 8 top tier banks between us, so we have some relevant background. I have managed single to double digit employees; she has managed mostly 4 digit number of employees for the past 10-20 years.

This topic interested me, so we discussed it together. We agree that it’s about the “sphere of influence,” and usually managing 1 to 10 people is not a big change. She’s nicer than I am, and would respond more gently, but we both would present a message about not “getting out over your skis.”

Everyone’s career path is different, but she and I have never framed the question as you have, OP, and she especially has done well. That said, you seem to have made up your mind, but a last piece of advice: don’t go into it with a full script of the topic, take frequent reads of the room to make sure that it’s being well received.
Okay, I get it; I won't be political or controversial. The Earth is flat.

edge
Posts: 3441
Joined: Mon Feb 19, 2007 7:44 pm
Location: NY

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by edge » Sun May 05, 2019 12:43 pm

I guess i don’t understand a job where you have 1 direct report.

I wouldn’t expect much of an increase for going from a strange sort of non management job to a small management job where your span of control is still barely legitimate.

Maybe small increases to variable.

In any case, the more significant aspect of this change is that you may be gaining the confidence (fickle though it may be) of the current set of decision makers in the firm. Your name probably comes up at ‘talent review’. The real upside is how you position yourself for the _next_ position which may represent a material bump in scope and comp.

My advice - don’t blow your political capital and goodwill on some small potatoes pay increase. When they trust you with the BIG step, that is the time to raise it - respectfully.

lack_ey
Posts: 6701
Joined: Wed Nov 19, 2014 11:55 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by lack_ey » Sun May 05, 2019 1:14 pm

Out of curiosity (and maybe to help explain context), what does your one direct report do? Many people above find it strange to have only one direct report; my limited experience is that this is not strange but normally some kind of scenario where the one direct is an analyst or other kind of supporter providing assistance to certain key aspects of the senior role. That's not so much management as being able to delegate certain tasks in a workload that's too large for a single person.

On the other hand, for that small team of three: what do they do? I assume their manager also did some "real" work themselves, not just managing the three.


In any case, I'm not quite sure I understand the expectation by the business. Is the work output of the combined team supposed to be equivalent to that of the original two groups (well, "groups") with 16.7% fewer people? How? Or is it expected that the combined team won't be able to take up quite as much as before but will continue to cover the same areas? In the latter case I don't see why you would expect to see much compensation change. In the former case I don't see how the business expects this to happen without increasing headcount (another direct, so not as expensive as the other group's previous manager).

Grt2bOutdoors
Posts: 21490
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Grt2bOutdoors » Sun May 05, 2019 1:18 pm

KyleAAA wrote:
Sat May 04, 2019 12:27 pm
Your job responsibilities don’t change that much based on the number of reports you have with a team that small. If you become an m2 then sure. IMO going from 1 to 4 reports is very minor and might not deserve a bump at all.
+1. No raise, and maybe a small bump in equity at year-end.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

123
Posts: 5205
Joined: Fri Oct 12, 2012 3:55 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by 123 » Sun May 05, 2019 1:32 pm

Do you know (ballpark) how much your manager makes? In many organizations the top sub-ordinate makes 40 - 60% of her/his manager. The salary relationship to your manger is often the key limitation. Now maybe you need to be realigned with a different manager as part of the reorg.

In the initial post the OP indicated only 1 direct report but due to the reorg he is now getting 3 more. We don't know from the limited history we have if that 1 report was just an initial set of "training wheels" to see if the OP could manage. It could well be that adding 3 more direct reports isn't worth an immediate salary boost for the OP. Maybe the OP is just now being elevated to the standard supervisory range for his position. We don't know how long he has been with organization and low long in his current role.

Hopefully with more subordinates you can reduce your hours. If your hours increase with additional subordinates you're not effectively managing (and that will be noticed) and you should consider other organization roles.
Last edited by 123 on Sun May 05, 2019 1:47 pm, edited 2 times in total.
The closest helping hand is at the end of your own arm.

Zombies
Posts: 67
Joined: Sat Jul 15, 2017 6:22 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Zombies » Sun May 05, 2019 1:38 pm

In tech, there are categories of management — managing 1-6 reports, managing a manager plus a few individual contributors, managing multiple managers, managing directors.

None of those changes come with immediate comp increases — you have to “do the job” for a little while and then you get promoted during the next performance evaluation cycle if you’re doing it well.

I don’t know exactly how banking works, but I imagine the philosophy is the same. You don’t give people more responsibility and immediately pay them more — if they’re bad at it, now you have to fire them as you can’t downlevel them usually.

So be happy with the responsibility increase while recognizing it’s not actually a category change, and do a good job, and ideally rewards will follow. The comp increase that eventually comes won’t be due to having more reports, it’ll be due to doing well with more reports. This can lead to 0%, 20%, or 100% depending on how you do. There’s no rule per person (and frankly the idea of “taking on their comp” suggests a strange lack of understanding of how all corporations think).

Topic Author
BJJ nerd
Posts: 68
Joined: Fri Mar 16, 2018 2:20 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by BJJ nerd » Sun May 05, 2019 2:23 pm

Great feedback, all. To answer a few questions / clarify things.
-I'm not planning to ask for any increase in the immediate discussions. I would expect any meaningful increase to come at the next review ~ 9 months away.
-I fully realize that the main opportunity here is to do a great job with what I'm given to really set myself up for future more material moves.
-The point of the thread was simply to speculate on likely / reasonable increase I may see at that time (I'm well aware that there are many variables at play) for taking over and leading a rather significant work set that is comparable in scope to my current responsibilities.
- I've been receiving good year-over-year increases (8% last yr), so the question is not whether there will be one but how material (or immaterial) could it be for taking ownership for significant new set of responsibilities.
-I would expect that there may be another hire contemplated given that the other work set is not being downsized.

Kow
Posts: 24
Joined: Fri May 27, 2016 5:04 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Kow » Sun May 05, 2019 7:33 pm

First you need to understand where you are in the range for your future job. We're you hired with the understanding your job would be bigger or we're you hired to do the job you have been doing. One direct report is not many for your comp depending on the exact role. Where are you located?

There also could be a prove it aspect if you can handle the job before being paid the full rate.

I would think you get a 10%-20% increase but depends on all of the above and wouldn't be shocked if it was nothing to very nominal.

Bacchus01
Posts: 3182
Joined: Mon Dec 24, 2012 9:35 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Bacchus01 » Sun May 05, 2019 8:51 pm

You’re lucky. Anyone with one direct report should be fired. 1 over 1s are low efficiency.

Traveler
Posts: 809
Joined: Fri Aug 30, 2013 9:07 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Traveler » Sun May 05, 2019 9:12 pm

Bacchus01 wrote:
Sun May 05, 2019 8:51 pm
You’re lucky. Anyone with one direct report should be fired. 1 over 1s are low efficiency.
Haha, you should see my megacorp. Tons of single direct reports even at the director level. Also quite a few manager and directors with no direct reports.

AlphaLess
Posts: 1599
Joined: Fri Sep 29, 2017 11:38 pm
Location: Kentucky

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by AlphaLess » Sun May 05, 2019 9:19 pm

BJJ nerd wrote:
Sat May 04, 2019 9:57 am
While my future team would approximately be doubling contributions to the company, I'm surely not expecting to double my all-in comp...
Why not?

If your old team was generating $5MM in revenue, and your new team will be generating $10MM in revenue, and your position is now more important, then it is fair to say that the total comp paid to ALL employees involved should be 2x of the old one.

So, if part of the $5MM revenue generation went to comp your manager, but now you are in that role, then that should be accounted for.

Depending on how the numbers fall, your comp COULD EVEN MORE THAN DOUBLE.

But then again: "In life, you don't get what you deserve, you get what you negotiate." I think this quote is attributed to one of the Great Statesmen of the US, Benjamin Franklin.
"A Republic, if you can keep it". Benjamin Franklin. 1787. | Party affiliation: Vanguard. Religion: low-cost investing.

Bacchus01
Posts: 3182
Joined: Mon Dec 24, 2012 9:35 pm

Re: Realistic Comp Increase with Doubling Job Responsibilities

Post by Bacchus01 » Sun May 05, 2019 9:55 pm

Traveler wrote:
Sun May 05, 2019 9:12 pm
Bacchus01 wrote:
Sun May 05, 2019 8:51 pm
You’re lucky. Anyone with one direct report should be fired. 1 over 1s are low efficiency.
Haha, you should see my megacorp. Tons of single direct reports even at the director level. Also quite a few manager and directors with no direct reports.
I would wipe that out in a second. That means you have too many managers an not enough empowered people.

Post Reply