I am a VP equity derivatives trader.
I work in one of big banks, think JPM / BAML / Citi. My boss told me that don’t expect a big comp rise this year.
In the past, I usually get a 8% to 10% rise every year. However, my bonus still less than 30%. My boss argue that it is because industry overall no longer pay well.
I see many people on internet can get 25%+ total pay increase even in tough year with 50%-120% bonus in normal years. I wonder how can I do that? Do you think is it because big banks like JPM / Citi / BAML just don’t pay their employee that well? Does that mean I need to move somewhere else to hike my pay ?
Thanks in advance!