How to get a raise
I’m a bad commenter. Sometimes I don’t revisit places I’ve left comment droppings. Today I found this old comment from Seattle Simplicity, a favorite blogger of mine.
The story of the 40% raise is that I built up a lot of technical skill while working a humdrum job. It was high stress and burnout. At the end of 2 years, a promotion wasn’t forthcoming. I was about to make a lateral move within the firm, and was promised an unspecific raise. However, it was a small firm and they were going to ‘transition’ me. Usually those transitions take months, and I was having none of that. I was fed up and ready to walk, so I did. I found myself another firm that was willing to take the job skills I had and value them at current market rate. I definitely did ask them for an outrageous some of money during the interview process, however, it was the going rate.
Salary.com is a great place to figure out what your regional peers are making. The information comes directly from HR and payroll staff. It’s not self-reported/inflated. This is what people ACTUALLY make from the companies that pay them. However, benefits are not included. This is straight wage income.
Finding out that I was woefully underpaid by my last company was a really shocker. I could actually be making 60% more, but sometimes there are priceless opportunities that you cannot pass up. I took the 40% and tried not to be too greedy.
I can make another 20% easily by switching firms in a year and half. I love double digit raises! Anyone who sticks with a company that isn’t compensating them well should reconsider why they work for their firm. Go back and read Mapgirl, Inc.
Seattle Simplicity wrote:
Bravo! I love to hear career success stories such as yours. Go forth and grab that 20% more as soon as you can.
Regarding your mention that “Anyone who sticks with a company that isn’t compensating them well should reconsider why they work for their firm.” I think it’s important to note that there are many intangible job benefits that might outweigh viewing a job based solely on salary. For example, I am happy with my current compensation (approx. $90K/yr) but I could make more elsewhere. I have an engineering degree and an M.B.A. - a pretty valuable combination. However if I hopped companies, I would be giving up: 5 weeks of vacation, a job location that allows me to bike to work, a job that NEVER goes outside 8-5 hours, an office with a killer view of Puget Sound, and complete autonomy in my current position. I could probably get a few of those things, but not likely all of them. So I’ve made the choice to live happily on $90K per year (admittedly that’s not very difficult) but I have friends who make much more than I do but it’s still not enough for them.
I’m just injecting my personal simplicity views into the discussion, but your point to increase your salary by being proactive about it is excellent. I’m glad you’ve had success with that!
Posted on 31-May-06 at 6:06 pm | Permalink
Single Ma wrote:
Congrats on your career success! That’s an awesome story.
My latest increase was about half of that but it’s with the same company. I’ve considered job hopping to make more money because the DC market is booming in my career field (especially with a security clearance and MBA). I keep the resume polished just in case but like seattle said, there are many intangible things I love about my job, specifically a relaxed work environment and the best boss ever.
Posted on 31-May-06 at 10:10 pm | Permalink
mapgirl wrote:
I agree with Seattle Simplicity that the intangibles must be considered when evaluating why you stay with the firm. One of my friends loved the flexible hours of his job which is why he’s been there for 7 years. For him, moving to another firm would be giving up 5 weeks of vacation a year and those flexible hours.
I guess for me, the intangibles weren’t enough to keep me there. My hours were not flexible enough and by being the single person on the team, I got de facto punished and stuck on the late shift when I didn’t want to take those hours. I’m happier now with out working evening hours. I have a life back as well as a raise!
Posted on 01-Jun-06 at 3:14 pm | Permalink
claire wrote:
I think the intangibles become even more of a trap once you have kids. I know so many women who are pushed around by their workplaces, underpaid, or just underappreciated. But I hear it (from myself, my friends, my colleagues) over and over again: “But they let me work part time here and I couldn’t get another part time job in this field with benefits.” or “But I can bring my kid to work if I need to.” or “But it’s so close to daycare.”
If I ever run a company, I’m going to let all the parents who want to go down to part time with prorated benefits. I bet my retention rate will be incredible.
Posted on 02-Jun-06 at 10:19 am | Permalink