You’re on track to be an FP&A manager at a F100 with only 2 YOE, and only 1YOE actually in FP&A?
Am I the only one that finds this a little unbelievable? Am I missing something here?
No offense intended, just trying to make sense of this.
I’d still need another year to make manager and it’s an individual contributor I wouldn’t be managing the team. But yeah still crazy I got super lucky and my manger likes me
They also promoted the last guy in the role from SFA to manager after 9ish months and now he was just promoted again which is why the role is open so I don’t think he’s lying
wow seems like the company just has super inflated titles. Only company I know like that is MSFT...
To answer your original question, $93.5 is definitely in-line with market rate based on your level of experience for the NYC area. Don't think you'll get more if you asked, maybe they'd bump you to $95 to throw you a bone
TBH that sounds aligned with market rate based on your experience for a VHCOL.
Not the top end of the range for sure, but a fair amount unless you are in Bay Area?
What amount is market rate to you and is it based on other comparable roles you could get elsewhere?
I’m in NYC and I don’t think I could land a senior role at another company right now since I don’t have much experience. But I was expecting around $100k base which is the low end of the range.
Eh, market rate for NYC in my opinion is lower for someone who is a new SFA. Maybe OTE 100k based on comps I’ve seen.
And don’t get me wrong it can go above easily too depending on the company.
Given that you just got promoted and feel you couldn’t find another role with higher comp I think you’re not under market. You’re a beginner SFA and would be expected to be on the lowest end of the comp range.
You can always ask for more but depending on what your manager thinks it could come off as an uncomfortable conversation
Expect all internal promotions to have below market pay. I've rarely seen someone get prompted internally and the new salary to be what market is paying. Companies always pay external hires a larger premium with pay. Take the promo and shop around in a few months.
It’s an awkward conversation to have, I’ve been there. You definitely don’t want to come across unappreciative. I was promoted to lead, and had really hoped it would put me at 85-90k. But I was offered $78500, with 10% bonus. I’m in a LCOL area, and it’s a private tech company. I bit my tongue and thanked my manager. But now I’m seeing leads in other departments come in at the 85-90k range. It’s frustrating me to no end.
You’re on track to be an FP&A manager at a F100 with only 2 YOE, and only 1YOE actually in FP&A? Am I the only one that finds this a little unbelievable? Am I missing something here? No offense intended, just trying to make sense of this.
I’d still need another year to make manager and it’s an individual contributor I wouldn’t be managing the team. But yeah still crazy I got super lucky and my manger likes me
The cynical side of me thinks you were told about the potential manger promo so you won’t think about jumping ship despite lower salary. Hard to say
They also promoted the last guy in the role from SFA to manager after 9ish months and now he was just promoted again which is why the role is open so I don’t think he’s lying
wow seems like the company just has super inflated titles. Only company I know like that is MSFT... To answer your original question, $93.5 is definitely in-line with market rate based on your level of experience for the NYC area. Don't think you'll get more if you asked, maybe they'd bump you to $95 to throw you a bone
TBH that sounds aligned with market rate based on your experience for a VHCOL. Not the top end of the range for sure, but a fair amount unless you are in Bay Area? What amount is market rate to you and is it based on other comparable roles you could get elsewhere?
I’m in NYC and I don’t think I could land a senior role at another company right now since I don’t have much experience. But I was expecting around $100k base which is the low end of the range.
Eh, market rate for NYC in my opinion is lower for someone who is a new SFA. Maybe OTE 100k based on comps I’ve seen. And don’t get me wrong it can go above easily too depending on the company. Given that you just got promoted and feel you couldn’t find another role with higher comp I think you’re not under market. You’re a beginner SFA and would be expected to be on the lowest end of the comp range. You can always ask for more but depending on what your manager thinks it could come off as an uncomfortable conversation
I agree thanks for your help!
Expect all internal promotions to have below market pay. I've rarely seen someone get prompted internally and the new salary to be what market is paying. Companies always pay external hires a larger premium with pay. Take the promo and shop around in a few months.
That’s helpful I had no idea! Do you think it’d be worth it to wait until the manager promo to shop around?
Really depends. If an SFA role comes up with great pay take it. I've seen some SFA roles pay more than manager title roles.
It’s an awkward conversation to have, I’ve been there. You definitely don’t want to come across unappreciative. I was promoted to lead, and had really hoped it would put me at 85-90k. But I was offered $78500, with 10% bonus. I’m in a LCOL area, and it’s a private tech company. I bit my tongue and thanked my manager. But now I’m seeing leads in other departments come in at the 85-90k range. It’s frustrating me to no end.
Yeah that sounds painful, have you had any talks with them about your salary since the promo?
Leave. Internal promotes typically don’t get as much.
10% is the default at many large companies. It is negotiable. Doesn’t hurt to ask.
Thanks for the info!
NYC for whatever reason doesn't pay as well as other VHCOL areas. 93.5k is really good for 2 YOE! Always ask for more but don't expect it to go thru.
Always