Got shafted by my company, viz pay raise - what to do next?
December 9, 2010 8:03 AM Subscribe
Got shafted by my company, viz pay raise - what to do next?
I am part of a 4 man team in the financial sector doing research analysis.
In addition to my job, I have taken on many tasks for other groups outside my own, and on my own initiative have turned around many a failing process and created a number of new products, tools and outputs many of which the core business is now completely reliant.
More than once I've been told I'm an integral part of the business. Nobody else knows how to do the things I do in the current business at least.
For years I've been underpaid, and this year was promised my salary would be brought up to standard. Well, I just got my raise - and it's a laugh, it works out to less than $100/month more.
Fair dues to the company, they obviously don't think I'm worth the money - they have the right to do that. My question is "what next?" -- I've already decided to start looking for a new job. Is there anything else I can do? Do you think it's worth me approaching senior management with a case? (my immediate boss is sympathetic). Any other course of action would be appreciated
I am part of a 4 man team in the financial sector doing research analysis.
In addition to my job, I have taken on many tasks for other groups outside my own, and on my own initiative have turned around many a failing process and created a number of new products, tools and outputs many of which the core business is now completely reliant.
More than once I've been told I'm an integral part of the business. Nobody else knows how to do the things I do in the current business at least.
For years I've been underpaid, and this year was promised my salary would be brought up to standard. Well, I just got my raise - and it's a laugh, it works out to less than $100/month more.
Fair dues to the company, they obviously don't think I'm worth the money - they have the right to do that. My question is "what next?" -- I've already decided to start looking for a new job. Is there anything else I can do? Do you think it's worth me approaching senior management with a case? (my immediate boss is sympathetic). Any other course of action would be appreciated
Is it possible that they don't have the money? There is a bit of an economic crunch going on...
I would ask your boss what the reason for the smaller-than-expected raise is. If he doesn't know or if he tries to blow you off, ask whether he'd like to go with you to see his boss, or whoever it is who makes decisions about raises. In other words, don't go over his head, take him with you to help advocate for you.
Whatever you do, don't go in angry. Don't go in bitter or entitled or upset. In this post, you come across as a bit emotional about the situation, and while that's understandable, it's going to be counterproductive when trying to actually fix the situation at your company. Let them know that you're confused about the difference between your promised raise and your actual raise. Bring documentation of how your work has made money for the company. Ask them what's up.
It may be that you never get a good answer about what's going on. It may just be company financial trouble occurring several levels above your head. I agree that looking for a new job might be the best thing. But if you can go in and find out what's really going on, it may help to ease your mind about the situation. Good luck!
posted by decathecting at 8:15 AM on December 9, 2010 [1 favorite]
I would ask your boss what the reason for the smaller-than-expected raise is. If he doesn't know or if he tries to blow you off, ask whether he'd like to go with you to see his boss, or whoever it is who makes decisions about raises. In other words, don't go over his head, take him with you to help advocate for you.
Whatever you do, don't go in angry. Don't go in bitter or entitled or upset. In this post, you come across as a bit emotional about the situation, and while that's understandable, it's going to be counterproductive when trying to actually fix the situation at your company. Let them know that you're confused about the difference between your promised raise and your actual raise. Bring documentation of how your work has made money for the company. Ask them what's up.
It may be that you never get a good answer about what's going on. It may just be company financial trouble occurring several levels above your head. I agree that looking for a new job might be the best thing. But if you can go in and find out what's really going on, it may help to ease your mind about the situation. Good luck!
posted by decathecting at 8:15 AM on December 9, 2010 [1 favorite]
Draw up a document that quantifies your inputs, especially as they relate to the improved processes and created products. Show how the company has directly benefitted (meaning financially) from these. Stick with quantifiers and facts, and leave emotion or subjective information out.
Determine what an acceptable raise would be, in your eyes. Then take it up a bit.
Go to your boss with this information. Make sure it is concise and reasonable. Assume that this "rationale document" is good enough to be seen by TPTB. Ask your boss to review it and add his inputs. Send an email to your boss, attaching this document, and request that he review this with TPTB. Ask that he put a copy in your personnel file with HR. If TPTB reject your request, ask that a document stating so and why be put in your personnel file.
Keep copies of all documents and communications in a file of your own (not on your work computer).
Don't threaten to leave if you are turned down. Continue your job search quietly.
posted by sundrop at 8:19 AM on December 9, 2010 [7 favorites]
Determine what an acceptable raise would be, in your eyes. Then take it up a bit.
Go to your boss with this information. Make sure it is concise and reasonable. Assume that this "rationale document" is good enough to be seen by TPTB. Ask your boss to review it and add his inputs. Send an email to your boss, attaching this document, and request that he review this with TPTB. Ask that he put a copy in your personnel file with HR. If TPTB reject your request, ask that a document stating so and why be put in your personnel file.
Keep copies of all documents and communications in a file of your own (not on your work computer).
Don't threaten to leave if you are turned down. Continue your job search quietly.
posted by sundrop at 8:19 AM on December 9, 2010 [7 favorites]
The old I'm indespensible to the business and don't get paid enough trap.
The resentment will kill you. First, map out your activities against what is your core role in your firm. Seperate your job role activites, i.e. day to day and yearly goals versus what your time is actually spent on. Evaluate increases/decreases in costs, efficiency etc., against the standard markers. Are you really underpaid? Do you have a communication problem?
Is your company just cheap? Does your company feel your skills can be duplicated plus more for a marginal increase of time and/or investment? Is your direct report a controlling ass?
I say all these things because when it comes time to really assess your value, it helps to be on the offense, not the defense. If you can demonstrate your worth via a powerpoint and some bullet points, most management will differ to the math. If you have relationship issues, then no matter what benefit you might bring - management thinking might be "as long as he stays, we don't have to do anything about it."
So before you let the feelings in the way, do an assessment. Speak to the management with clear and concrete reasoning for your position. Shop your CV and have alternatives at hand. Cover your bases and be smart.
posted by Funmonkey1 at 8:34 AM on December 9, 2010 [2 favorites]
The resentment will kill you. First, map out your activities against what is your core role in your firm. Seperate your job role activites, i.e. day to day and yearly goals versus what your time is actually spent on. Evaluate increases/decreases in costs, efficiency etc., against the standard markers. Are you really underpaid? Do you have a communication problem?
Is your company just cheap? Does your company feel your skills can be duplicated plus more for a marginal increase of time and/or investment? Is your direct report a controlling ass?
I say all these things because when it comes time to really assess your value, it helps to be on the offense, not the defense. If you can demonstrate your worth via a powerpoint and some bullet points, most management will differ to the math. If you have relationship issues, then no matter what benefit you might bring - management thinking might be "as long as he stays, we don't have to do anything about it."
So before you let the feelings in the way, do an assessment. Speak to the management with clear and concrete reasoning for your position. Shop your CV and have alternatives at hand. Cover your bases and be smart.
posted by Funmonkey1 at 8:34 AM on December 9, 2010 [2 favorites]
Since you've already started looking for another job, ask yourself what kind of recommendation you want from this employer. Is it "...anonymous wasn't happy when we gave the raise we could afford and made a big deal of it..." or "...anonymous is worth more than we can pay and will be a valuable employee for a company that can afford to pay what anonymous is asking..."? I would just keep my head down, find that dream job situation (or find that it's tougher out there than I expected) and leave (or not) on a friendly note.
posted by Old Geezer at 8:37 AM on December 9, 2010 [1 favorite]
posted by Old Geezer at 8:37 AM on December 9, 2010 [1 favorite]
I wouldn't push it any further without a job offer in hand. Times are tough; it might be cheaper to replace you than you think. Get thee to a job offer.
posted by Kwine at 8:59 AM on December 9, 2010
posted by Kwine at 8:59 AM on December 9, 2010
They might be saying how important you are to the business as a gift to your ego. They may not care how important you really are. Maybe they want to sell the business off. I'm sure you know by now that salary on average rarely corresponds with how hard you really work or how hard a job really is.
Old Geezer's advice is what I believe. You're not there to win and solely be "the best little worker there is", especially if you're not going to get what you want (which you probably are not going to get unless you have another offer from some other company and you really are explicitly worth retaining in their minds) you're there to make friends who could help you in the future get what you want.
posted by anniecat at 9:52 AM on December 9, 2010
Old Geezer's advice is what I believe. You're not there to win and solely be "the best little worker there is", especially if you're not going to get what you want (which you probably are not going to get unless you have another offer from some other company and you really are explicitly worth retaining in their minds) you're there to make friends who could help you in the future get what you want.
posted by anniecat at 9:52 AM on December 9, 2010
As the Yankees told Derek Jeter, go shop yourself on the market and come back with a better offer. Why would your company pay you more than you're making, even if the higher sum is what you're "worth" in a value-to-company sense, if it doesn't have to?
posted by J. Wilson at 10:06 AM on December 9, 2010
posted by J. Wilson at 10:06 AM on December 9, 2010
From everything I've experienced and most everything I've read, if you want to make a lot more, you need to quit. If you're OK with a few percent here and there every year, then stay.
posted by Brian Puccio at 11:03 AM on December 9, 2010
posted by Brian Puccio at 11:03 AM on December 9, 2010
Talking to upper management will probably not get you what you want. Unless you have a bargaining tool or two up your sleeve, there will probably be little incentive in management's eyes to give you a raise.
Look at it from their perspective: you've shown them over the last several years that you'll work for salary $X. Unless you make it clear that you won't stick around unless you get salary $X+Y, then they don't have much incentive to throw more money at you in lean times.
Your record of good, valuable work for the company is more of a bargaining tool when you have a competing job offer in hand. Get an offer from another company, in writing, and take that to management, along with your list of accomplishments. Lead off with why you think you deserve a raise, and name the amount - if they hem and haw, then pull out your job offer.
posted by hootenatty at 2:31 PM on December 9, 2010
Look at it from their perspective: you've shown them over the last several years that you'll work for salary $X. Unless you make it clear that you won't stick around unless you get salary $X+Y, then they don't have much incentive to throw more money at you in lean times.
Your record of good, valuable work for the company is more of a bargaining tool when you have a competing job offer in hand. Get an offer from another company, in writing, and take that to management, along with your list of accomplishments. Lead off with why you think you deserve a raise, and name the amount - if they hem and haw, then pull out your job offer.
posted by hootenatty at 2:31 PM on December 9, 2010
This thread is closed to new comments.
posted by thewumpusisdead at 8:13 AM on December 9, 2010