HERE IS THE PROBLEM.
For last 2 years, my compensation has remained the same. Not a 0.1% increase. Over last 2 years, this corporate has exceeded the expectation in quarterly results and gained billions in surplus.
I am deeply hurt and disappointed with way corporate works. I feel cheated.
They exist to make money, not to enrich their workers. The optimisation strategy is to pay as little as possible for as much productivity and labour as possible, then charge as much as possible for it to customers as a package item. Everything trickles up to the top of the pyramid.
Sadly the only way to reliably increase your pay is to dust off your CV and change jobs.
You might get a counter-offer from your current employer if they feel you're particularly valuable -- but I'd never accept one. At best, you'll end up being higher paid than some or all of your colleagues, and if they find out or suspect that (they certainly will if you flip from "I'm leaving" to "I'm staying") then you should expect resentment from them.
It's really better to walk away and start with a clean slate in another place. I've never regretted moving jobs -- but I've definitely regretted staying at a bad one, or one which didn't value my input.
If the company isn't satisfied with my performance, they can give me a raise to work more again.
- The best just leave, they don't negotiate. When negotiating, management will dangle a carrot 6-9 months away at the next "annual review" or whatever. And by then you'll be just disappointed.
> My performance review meets are only about what my manager wants next.
- Those who ask for more, get more. Some cultures don't like talking about money. But make sure it is a point on YOUR agenda, so before the meeting ends,say something "Hey I had some points I wanted to talk about with you".- Only make an ultimatum if you're willing to follow-up on it. When asking for a raise, make a case as you did here: "demands increased ten folds", "clients are happy" etc.. but be prepared for a bullshit response or an insulting 1% raise. Have a fallback plan and start interviewing.
If you want things to change you have to act.
If your salary isn't changing for two years you simply need to show them offer from diff company with good bump in pay and see if they want to give a counter offer.
I feel this every day and I’ve been working for over a decade. Work has so little to do with getting things done and being rewarded.
Ask your manager who to talk to about getting a pay rise. Hopefully it won’t be your direct manager because they might get paid less than what you’re asking for. Come prepared with a list of responsibilities that are above your current pay grade. Don’t bring up fairness. Ask for a rise a few k above what you think you can actually get. Ask your coworkers their salary if you’re brave. Be aware that management will probably fob you off and tell you the pay rise is impossible and you don’t deserve it, you’ll come away feeling devalued and stupid, but they’ll probably grant it anyway. Don’t expect regular pay reviews to come to you (my managers have looked flabbergasted when I said it should be the main point of the appraisal/review process), make sure you’re bringing up pay regularly yourself.
e: also, once you get the raise, slack off a bit. It’s not like they can reduce your pay.
This is a big no! Please don't do that. You are not a charity and this is not your company.
If you want to continue to do that, at very least write down the extra hours you work so that you can calculate your real wage and maybe if you see how much less you actually earn when you do that, then it may compel you to stop.
When my friend accounted for all the "all-nighters" and evenings, she realised that she was actually paid slightly over the minimum wage. It's wrong.
Companies not matching significative individual value with significative salary is not necessarily part of a meaningful strategy on their side. They might just do it because that's how slow the job market has moved for X years before the boom of IT, but there's no guarantee that it makes the slightest sense.
I've worked in so many orgs that ended up on the verge of crashing just because they couldn't hire/retain talent. This problem coexisted with their attempt of fixing it by working with consulting companies, which charged 10x what an employee/contractor would've charged. Why not hire someone able to match their expectations you ask? "It costs too much money/time/attention" has always been the answer. In the meantime, consulting shops needed constant monitoring because of their usual tendency to overpromise and underdeliver.
IMHO the most successful companies happen to be the ones which defy common salary negotiation/adjustment practices, and that's not a coincidence. They just think about it and see that paying skilled people a decent amount of money makes sense. And then they can focus on their product/services without getting lost in turnover hell.
Side note: high salary means that an employee costs too much to get him to work on minor stuff. Sometimes you outgrow a team, and if the company doesn't have enough high level problems to throw at you, and they don't care too much about it, then you might peacefully negotiate a goodbye agreement.
But you have not mentioned them either, I take.
I get that talking about money is uncomfortable in some cultures - makes people uncomfortable. Companies absolutely use this against their employees. They put people who are good at talking about money in charge of hiring people, and they train their managers in negotiation tactics.
Your options: wise up and start talking about money, and/or leave.
For the first one, you should aim to do it at least once per year - ideally one or 2 months before evaluations and raises are done in your company. Watch videos about negotiating, or get a coach if needed. If it costs you 500 bucks and you get a 10% salary increase it will probably be worth it.
For the second one, yeah, update your LinkedIn, ask for some days off and do some interviews. But you will face the same problem: you will have to talk about money on the initial interview, and you will be the one responsible for asking for raises in the new job as well. So you might as well start working on point number 1.
You have to be prepared to quit. Here in the UK the most effective way to get a raise is to actually find a new employer and ask 15-25% more than at one's current place.
- ask for a raise
- change the company
Whatever you do, make sure to have a realistic idea of what your work is worth. Ask fellow employees how much they make and check local statistics about salary in your specific field.
Isn't Canada in a shortage of skilled software engineers? Take advantage of that.
I'd most certainly take it up at that conversation, and argue as you do here, that you've felt a significant increase in workload (and the responsibility that entails?) and suggest that you be compensated for this.
It is hard, but it is like this. Unless you become irreplaceable you are not going to have an easy path to salary increases.
I empathize with you in feeling cheated. As so many other commenters suggest, changing jobs for more pay is the only practical and reliable option.
Companies only offer salary increase to people they absolutely want to keep, if you're just a cog in the machine they can afford you to quit and get another cog
> has exceeded the expectation in quarterly results and gained billions in surplus.
Doesn't sound like your employer is in our boat, however. Perhaps they're just dicks.
I can't believe what people write here. You don't need to change jobs, just sit down with your manager, tell them your pay has been stagnant and doesn't reflect your performance.
"I am deeply hurt and disappointed with way corporate works. I feel cheated." I'm sorry but this reads like it's written by a whiny teen.
Also as a side note. Extra work does not directly translate to improvement of your state. You first have to make sure that it is a) noticed, and b) called for.
My current employer doesn't do this as a matter of course, and I don't like the feeling of becoming poorer each year. If they don't sort it out, I will leave at some point. There's many other good things though, so I'll see what happens...
Because they can get away with it.
And that is because we no longer have strong, nationwide union presences (either in the US or Canada) holding them accountable.
Unionize your workplace, and get a bare minimum of annual cost-of-living increases included in the contract, plus some sort of performance-based increase. Those sorts of clauses are, from what I've heard, still standard in many union contracts.
You can't generalize this to all companies. In some companies, raises are automatic if expectations are met.
It's a free market. If you're unhappy with how your corporation works and if you can find better, it's your responsibility to change.
Finding a job is easy for us those times, you don't risk much. Finding good workers is hard for them, the balance of power is on our side.
The ruthless capitalist suggests that you should interview at other places on a regular basis, to kind of get another "bid" on your skills. Over a decade ago I worked at an investment bank and this was pretty much the only way to get raises. Entire teams would leave one bank, do the same project at another, then come back a few years later. You'd probably get a pretty big raise with each hop, as well.
This is not for everyone, though. It's time consuming and probably annoying for the people interviewing you if you don't actually choose to jump. My suggestion is to speak with your manager; the value of the dollar has fallen by almost 20% over the last few years. Has the value of your work fallen by the same amount? If not, your compensation should be adjusted.
Do not discuss it with anyone. Just line up your next job and leave with minimum notice. Be open with your colleagues during your notice period about the reasons you are leaving. This would be an excellent time for them to renegotiate their salaries, if leaving is not something they want to do.
you may or may not get a raise if you ask for it, you will most assuredly get no raise if you never ask
squeaky door gets the grease..
This will kill part of the information asymmetry.
If the latter, you have comically absurd and unreasonable expectations -- you can't complain about not getting a raise if _you never asked for one_. Geez.
Think of buying a house. You want to buy; a seller wants to sell. You haggle over a price, and if the price is acceptable to both of you, you agree. The price might be higher than you'd like if there aren't many (or any) alternatives; it might be lower if there are lots of alternatives. There is no "correct" price. Only an agreement.
Your salary when you join is just like that. Salaries go up if skills are scarce. They go down if skills are plentiful. There is no "fair" salary.
The hard bit is realising that that's still true once you're inside an organisation.
Your salary might be lower than average, but you won't leave because you like your team or the location or the mission of the company. Just as you'd pay more for a house because it's near your kids' school, or near a lake or a beach or whatever you like.
Your salary might be higher than average, but you won't stay because you're treated badly, or the commute is far or somewhere else is willing to pay more. Just as you'd potentially move to a neighbourhood you don't like to get your kid into the school you think would be best for them.
Tl;dr: you have agency. It just doesn't feel like it when you think of employers as powerful and you as weak. Your best safety net is other employers. And you need to exercise your agency in these ways:
- talk to your boss about salary. Do you have pent-up frustration about your boss not initiating this conversation? You're just as capable of initiating it. Just as a house seller shouldn't get silently angry at an offer they don't like - they should respond with a no, and a counter-offer. Just talk. And go in with everything you want. Can't get a higher salary? What about a couple more days of annual leave? Or some training you really want to do? Or an internal transfer to another country? Think of all the things you would like, and see what you can get. If they end up offering you some things from that list, you can see if you like the look of the new package in total and stay, or decide it's still not worth it for you.
- if talking doesn't get you what you'd like, accept it and start quietly looking for new jobs. Ideally you'd be doing this all the time, but it is a lot of effort. Start here. Understand if where you are is your best option, or not. Remember there's no fair salary or anything like that. It's just like buying a house. You might already be in the best house for you.
- if you decide there are better options out there, then you have to get them to accept you! If you get an offer you like, accept it. Tell your boss, and don't accept a counter. And don't hold it over your boss. It would be weird to go back to a house-buyer as a seller who got a higher offer elsewhere and boast to them about the better offer you got. Just be polite and professional.
- enjoy your new job! Or if you decided to stay, your current job!