I received my remuneration outcome from my performance review for last year (2020) – No salary increment and a 20% drop in the annual bonus. It’s worse than what I got for the year before (2019) but in line with my expectations. After all, it was a bad year for the bank and it had taken a hit on its profits. It’s still nice to have a financial reward for the work and effort I put in at my job. But I have to do something about my base salary as it has stagnated in the past few years. Seems like the only way to get a decent pay rise is to move externally to another role somewhere else.
It’s a difficult decision to make because I do enjoy working with my manager and the work itself is engaging enough. The workload is not too heavy and my flexible work arrangement (75% work from home and 25% work from office) allows me to spend more time with my family. This is going to be important as my wife gets busier at her new job. And if we decide to have a 2nd child. It would be great to have a higher salary to cover the increasing costs of raising a child and the eventual property purchase costs. But I wonder what is the price I will have to pay for it.