Purchasing power

[Rubberdown]

There’s always working for yourself too. It’s a lot more work and stress but you make the money.

[WItoTX]

Id add, having another job offer significantly increases your leverage.

I think OP's question is more tailored for someone who enjoys their current job, but feels they are undervalued within the company. Otherwise yes, I 100% agree.

This, I did it and our president said he felt like I was paid fairly and if I wanted to go make more good luck...

started my new job last monday at a 2.5x bump to my salary and less travel.

Congrats!

[ctom87]

Pretty spot on WItoTX...

There is definitely something to say about all the perks. I am content with where I am at. The other thread about the first million made me wonder how much I have financially advanced in my life, and I was a bit shocked that my yearly increase with two bigger market adjustments showed that I had less purchasing power than I did in 2015. Not to mention I have a wife and kid now. So my expenses have grown and my only saving grace was the promotion at this point in 2018 or 2019.

[Shane]

Excellent point! Thank you for sharing. I have not thought of doing that outside of the yearly review.

The yearly review we do make our point as the merit increase is tied to our goals. I've always been told that "the team is doing so much good work, who do I take money away from to give to you?"

How many new people would they have to hire to find a comparable replacement for you, and how much would they have to pay that person if you left for a better paying job elsewhere? How many fewer employees would they need if they incentivized achievement and superior performance?

The whole "everybody gets the same raise" deal is what caused me to leave salaried employment years ago. Pay that isn't tied to performance results in everyone being incentivized to perform at the same level at the lowest common denominator.

[Graysonhogs]

how many new people would they have to hire to find a comparable replacement for you, and how much would they have to pay that person if you left for a better paying job elsewhere? How many fewer employees would they need if they incentivized achievement and superior performance?

The whole "everybody gets the same raise" deal is what caused me to leave salaried employment years ago. Pay that isn't tied to performance results in everyone being incentivized to perform at the same level at the lowest common denominator.

100%

Disclaimer: I may not know anything.

[easeup]

aside from chasing alternate employment, the loss of buying power we have seen in the last 2 years with whopping inflation......well you know why......it is normally not that way over the long haul

[Dusty Britches]

I agree ^^. At 2.5% increase from 2015 until 2021 would have matched inflation and you would not have lost any buying power. The inflation of 10-40% in necessities is choking us all.

[Bill]

Excellent point! Thank you for sharing. I have not thought of doing that outside of the yearly review.

The yearly review we do make our point as the merit increase is tied to our goals. I've always been told that "the team is doing so much good work, who do I take money away from to give to you?"

Maybe suggest they take it out of the company's profits that go to the owners or shareholders. How would your sales team reply if told by an existing customer they can't afford the price increase on your product or service since they don't want to take it away from their other suppliers to give it to you?

You're struggling with the same issue I, and many others who work for a company face.

I strongly suggest you go to Nick's web site asktheheadhunter.com and read his multiple articles and posts about negotiation strategies for a raise. If you play by their rules, they run the game.

[txhunt7]

the facts. My salary has grown a few small percentage points. Company board is selling tons of stock and making big bucks. I am not lazy and am one of the 10 percent at work that does 90 percent of the work. Insurance rates going to the roof. Its definitely touching the discretionary income. Getting old really fast. Never had to ask for a raise in my life but seriously hinting to our management now. Matters worse, there are many layoffs and its not the best time to ask for a raise !

[ctom87]

Yep, we just lost 3 MD's on the sales team... I am sure layoffs may trickle down.

[mavrick]

I just crunched some numbers and found something interesting.

I took my salary when I came onto my company in 2015 and multiplied it 1.26 which is the purchasing power of $1 from 2015 in today's world.

I then took my current salary, removed the only % increase from a promotion I received, and found that my yearly increase plus two significant market adjustments is actually LOWER than what my salary was worth in 2015!

What's worse, my company gives departments 2.5% to everyone across the board. If I stand out and go above and beyond and deserve more, someone has to do the polar opposite and receive less. So I could perform at the max and receive 5%, but that would mean 1 other person has to receive 0% and everyone else receives 2.5%. This incentivizes management to just blanket everyone at 2.5%....which as a result, has not beat inflation over the last 8 years.

It just chapped my a discovering this after reading that pilots are going to get a 40% increase over 4 years in their new contract. That tops out the narrow-body short-haul pilots at $475k and the wide-body long-haulers at $590k. Those long-hauler's only have to work something like 63 days a years to acheive that too. Oh well, too late to go to pilot school!

rant over, everyone have a blessed day. After all, we have more than we deserve.

It is not designed to work this way. Every manager has the numbers in front of them. The average maybe 2.5% if everyone gets the same but it should be 5 can get 1.5% with the rest to the higher achievers. It should never be all are nothing. Again the manager knows what he has to work with

[justletmein]

I mean if someone is unhappy with their situation I guess they could become a pilot?

OP I've learned over the years that to get proper raises you can't be loyal to a single company, got to move every few years or so and shop yourself around. Yeah it can bite you in the arse but that bumps the salary up rapidly IME. The days of staying with a company long term and them taking care of you seems to be over I'm afraid. I'm sure there's a few exceptions.

[Heath]

I mean if someone is unhappy with their situation I guess they could become a pilot?

OP I've learned over the years that to get proper raises you can't be loyal to a single company, got to move every few years or so and shop yourself around. Yeah it can bite you in the arse but that bumps the salary up rapidly IME. The days of staying with a company long term and them taking care of you seems to be over I'm afraid. I'm sure there's a few exceptions.

I read an article the other day, said most people will get 1-3% raises at their current company when they push for one, but will get 10-25% raise if they take another job.

I learned a long time ago, the company I work for is going to be just fine if I left no matter how awesome a producer I was. If I got hit by a bus this afternoon, they would have my job posted on Monday. You have to look out for yourself. This does not mean you are not loyal to your company, but my philosophy is I am going to be great at my job I have, but prepare for the next one along the way.

[RiverRat1]

100%

Disclaimer: I may not know anything.

Shut up. Know it all

Go make another $700.00 35.16

[Johnny Dangerr]

Had a long and **** confusing talk yesterday with a business coach. I am more lost today then yesterday. Gave up another 2% of the monthly income last month to employees and I still need to harden sales and deposits. According to the coach everybody will eventually steal from the company - no matter what you pay them...