Currently making $250K all-in as a Finance Director but only got 3% increase this past review. My pay was down 5% due to COVID last year, so from 2020 to 2022 my pay is flat. Should I start looking to move? I don't have any complaints with the work I have and $250K jobs don't grow on trees, but it's hard to swallow essentially no pay increases over 2 years in a high interest rate environment

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Here’s how I would think about it: rather than thinking of the pay increase/decrease, ask yourself what you truly value most. While I definitely value comp, in my latest job “search” I found that I actually like the flexibility my job has, the low stress, opportunities for my specific company, and the company benefits (both short and long term). Long story short, I wanted a raise but didn’t want to leave. I interviewed, got significantly higher offers elsewhere, and was willing to stay for less than the competitive offers, BUT my employer beat those offers so it was a no brainer even when competitors tried to counter above my employer.

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I understand. I worked more in 2020 than I ever have and had my bonus slashed by 50%. Comp moved 6.5% and bonus moved back above 2019, but still was underpaid so I got competitive offers and got them to not only match, but beat the competitor offers (50% bump on top of the 6.5% bump).

At face value, $250k for a finance director sounds competitive. Maybe the company had to level set pay for lower roles based on the pay freeze in 2020/2021, so decided to mostly hold flat directors and above? It happens. If you’re happy with your company, would stay put, otherwise you could have exploratory conversations with recruiters to test the market. No harm in browsing!

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Well the way it works is I'm a director but I also manage direct reports who are directors and I gave them 5-10% raises. It's crazy, all my directs got way more than I did!

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I am in the same boat and I am definitely trying to leave. Challenge is I’m not willing to leave for just anything so really have to have patience on the job search and not feeling down when there are big lulls in the opportunities out there.

Are you able to advocate for a raise? Do you see an attempt being unsuccessful?

I just had my annual figures come out and very meager increases. I'm not sure how successful asking for more money will be

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