Hi guys & gals!

I work for a consulting firm at 85k/year. Been with them for 2 yrs now. I know they bill 150/hr for my engagements. I work 40+ or 50+ hours a week; my clients are happy. I want to ask for a meeting to discuss a pay increase... 120K to be precise:

1. Please advise on how to approach this...
2. How should I phrase the reasons for my salary increase request.
3. Is the request amount fair/low?

..any other helpful contribution is welcomed.

PS. Positive vibes only.

TIA.

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Easiest approach is get a competing offer

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Agreed. Highly doubt they are going to increase you much unless you get promoted

likesmart

First of all, you cannot use your hourly rate they charge to client as negotiating factor. Can you get that project directly with client at that rate? They factor in the cost of employing you in their rates. I don’t know who u work for but Your 401k, health benefits add up so someone smart, will counter your argument pretty quick.

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Honestly and respectfully, you’re not gonna hit that number. Not at your current company at least. You’ll have to jump ship or get an offer and then bring it to them to match, tho this will still be gamble. If the gap wasn’t so far, you’d have a shot. You’re asking for a massive jump

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Unless they can charge more for you, it's gonna be tough. If they only bill you at $150/hr, that's already pretty low margins for them at your current salary (assuming you also get fringe benefits too).

Either way, best of luck.

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Doesn’t matter what they bill you at with the client. It’s usually a blended rate anyway.

$85k is low for today’s standards but YMMV in negotiations. Focus on what the market is paying.

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Thank you AD1! I needed to hear that...

50% increase ain’t gonna happen. For any increase you will want your performance ratings, whether you are operating at the next level for a promo, and benchmarks. Do it as part of your normal review process unless you have an offer in hand and will jump.

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why do you believe your current salary is not market? What proof do you have? That is the question that matters.

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Thank you all for the insight so far!

What % increment would you ask for in this case?

The counteroffer idea is great too... I just didn't not want to go through all that IF my request is valid and can be fulfilled...

I so much appreciate the feedback in here!!🙏

Thank you 🐟 🐠 🎏!

PS. I wasn't going to use the hourly rate they bill my clients as a negotiating point... it was FYI so you can advice me better... thank you!

uplifting

Thank you M1!

I make $80k and my billing rate is like $240….. seems like you def need a competing offer to negotiate for 120 and maybe be ready to meet in the middle. You got this!!! Good luck!

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Thank you, S1!

I make 120 and billing rate is 300-350. Agreed with all other posts on this thread that most reasons will have little sway at your current company than if you have a matching offer (i.e., most relevant reason for them = you leaving).

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Analysts at my firm make 85k, maybe do a quick salary check for your level at your company online and compare the avg to what you make. Second, start interviewing and get one or more competing offers. If salary is a big deal to you, you should probably move to any other company.

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Thank you, D1!

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