Today in accountant avarice, a youth took a cut prior to their start date last year and now wonders if this year’s crop will be raking in more. Will bringing injustice to a partner’s attention help?
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Back to our accountant in the poor house:
I work at a regional firm for about one year now. Prior to my start date my offer was reduced due to the economy. After recent discussions with the partner, I was told that I will be getting a “raise” but even after the bump, my new salary is below my original offer amount. Is there any chance, new hires coming in can make more than I, because my revised offer seems below market and I think my firm will be offering higher salaries to the new hires to remain competitive? Also, should I bring this up to the partner’s attention because I don’t think that they know my salary has been reduced and how would I go about doing this?
First, before we answer your question more directly, we should point out that worrying about what other people are making at your firm will drive you crazy. But because of the world we live in, knowing whether a co-worker is making more or less than us is a God-given right, we understand your desire for this knowledge.
As to whether the new grasshoppers at your firm are making more than you, we suggest checking out our salary thread from late last year, our map that shows salary by region and this year’s Big 4 starting salary thread to give you an idea where you fall on the scale.
But the short answer is, yes, it is possible that your first year associate is making more than you.
Now, what to do about that exactly? Well, before you scream at the cruel and unusual universe for being completely unfair to you, do your research and get a really good idea of what you think you should be making. Nothing will get you thrown out of a partner’s office faster than, “I need a raise because I said so.”
But market research may not be enough. You’ll need to demonstrate to the partner getting your pitch why you’re a valuable resource for the firm and point to specific accomplishments that support your argument. As a second-year associate, that can be a pretty tough sell.
What have you accomplished in the past year? Are you making it rain? Are you a trusted go-to on anything and everything for your clients? Are you involved advancing the firm’s brand and culture and mentoring other colleagues to do the same?
Partners like to hear about all that stuff because A) it gets their blood boiling in the nether regions and B) it means that you care about making them (i.e. the firm) more money and advancing its reputation.
So yes, you can bring your concerns to a partner but be prepared to sell yourself all over again because it’s a “what have you done for me lately?” situation.