A method of balancing a gas turbine engine rotor, including axisymmetrically removing an annular portion of the balancing flange exceeding that required to provide the unbalance correction, and creating the unbalance correction by non-axisymmetrically removing material from the balancing flange. In one embodiment, the configuration of a theoretical notch in the balancing flange that would create the unbalance correction is determined. The unbalance correction is created by removing material from the balancing flange to create a protuberance protruding radially from a remainder of the balancing flange, the protuberance having a height corresponding to the depth of the theoretical notch, a circumferential width corresponding to the arc angle of the theoretical notch, and a circumferential position diametrically opposed to the circumferential position of the theoretical notch. A gas turbine engine rotor is also discussed.