I’ve worked at Allstate for 4 years as a fast track inside property claims adjuster. When I was brought on, I made $48,000. Now, I make $62,800. Recently, I was offered a role as a coordinated adjuster for $65,800. I heard that the new hires were being paid a much more competitive salary. Would you say this amount is on par with what I should accept?
Rising Star
Yes this is completely common during times if inflation and a hot job market (especially in insurance). This is called Salary Compression and the only fix is for the company to give every existing employee a significant adjustment to market rate. Of course doing that is extremely expensive and most carriers will instead just accept higher turnover. Only fix for you if your company doesn’t fix it is to change companies and negotiate hard. I can help with that. Let’s chat: https://calendly.com/tcanas/chatwithtony
Nerd in the house! ❤️
Before I became an uw I was with my company working my way up for 4 years . Had people fresh out of college starting at 5k more than I was making being put as associate uws(ie. Taking the position i was working my way towards)....
You are speaking my language. It literally drives me NUTS that they can't seem to figure this out yet. We don't want a p8izza party, we want better pay. It really isnt' THAT difficult.
Yep. Happens here too. They bribe us with being able to wear jeans on Friday or having some sort of office wide lunch instead of paying us what we are worth. I know several new hires that make more than I do.
Oh my gosh yes! Are you kidding me, it is absolutely insane. Look I get it that it can be difficult to find new employees but do not screw over your current team. Honestly, I decided last week to start looking for a new job since it looks like switching companies is the only to make some decent money or get better benefits!
It’s true. I had three different carriers that I worked for in one year as an uw and the last one I got gave me way more than the current employees. They came to me with an aggressive number and basically asked me to name my salary.
It seems like this happens often and its as though they think we won't figure it out. I know several new hires that make more than I do when I started and its really not fair. Pay the people who are loyal to your company and keep it running.
6 years with my current company and all the tenure reps have just figured this out. We work so hard to compensate as more than half the company are now new hires while also helping to train them. Yet their starting pay is the same as mine. It feels like a slap in the face
I found this out and brought it up to my manager. I’m training people making more than I do?!
Either we’re with the same company or we all need to start jumping ships lol
I'm convinced that the new and younger hires have just gotten better at negotiating their salaries. They do also have to take into account the inflation for the past year which they could use in their favor. Maybe it's about time to ask for a raise as well.
This is why I don’t understand the reason it’s frowned upon to discuss our salaries with others. There should at least be a published range for each position (also published in any job postings!!) that employees have easy access to view and determine if they are being adequately compensated.
I got wind of this happening and was shocked. I wasn’t sure because it’s not like I was able to find out how much new co workers were making.
Are we working for the same company? Looks like we're on the same boat. Lol
This has been the issue of many tenured employees in our company. They work twice as hard as they should for the promise of giving them a raise. And yet, here comes new employees with a salary that's similar to the salary they receive after 3 years of working in the same company.