Company management in limbo, stupid time to ask for raise?
February 6, 2016 1:35 AM Subscribe
I'm approaching my first year at my job, my performance has been lauded and I intend to ask for a raise, however...
Rumors have been swirling that the owners are selling the company. It's a family business that has been holding very tightly to its purse strings in recent years including some very questionable business practices as of late (illegally skimping on our pensions, no overtime compensation, etc).
Last week my boss confirmed to our department that negotiations for the company had been going well, and the firm that is buying the business have guaranteed our positions and salaries. Nothing is as of yet confirmed though.
For several months I had considered finding alternatives, but I thought that before doing so I would at least broach my request for a raise and base my decision on whether or not it goes through. Many in our department think that the purchase of the company and passing through to new management will be a boon due to its vast amount of resources in comparison to current owners and its strength in several other sectors (media and entertainment, btw).
But I'm at a quandary on the timing of my decision for bring up my raise: do I wait until the company has been officially sold to new management or bring up my request with my boss now? What else should I watch out for during these transitional moments?
Many thanks!
Rumors have been swirling that the owners are selling the company. It's a family business that has been holding very tightly to its purse strings in recent years including some very questionable business practices as of late (illegally skimping on our pensions, no overtime compensation, etc).
Last week my boss confirmed to our department that negotiations for the company had been going well, and the firm that is buying the business have guaranteed our positions and salaries. Nothing is as of yet confirmed though.
For several months I had considered finding alternatives, but I thought that before doing so I would at least broach my request for a raise and base my decision on whether or not it goes through. Many in our department think that the purchase of the company and passing through to new management will be a boon due to its vast amount of resources in comparison to current owners and its strength in several other sectors (media and entertainment, btw).
But I'm at a quandary on the timing of my decision for bring up my raise: do I wait until the company has been officially sold to new management or bring up my request with my boss now? What else should I watch out for during these transitional moments?
Many thanks!
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Also, the timing of our acquisition was right before the new boss's annual review process (which is when pay increases happen), and because we had just been acquired they decided to skip the review. So we went more than a year without an increase. Basically, the new bosses weren't in a rush to raise salaries, which are one of the biggest costs. The extra resources were very helpful in infrastructure and in expanding the team, though.
posted by PercussivePaul at 2:18 AM on February 6, 2016 [1 favorite]