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That is so out of touch. Cost of living has changed so much, and $58k does not stretch like it used to. Honestly, I would start quietly looking for a new role while you still have this one. A boss who laughs at a raise request is not someone who is going to invest in you.
". . .Invest in you." He probably won't, you're right, and thank you for being supportive.
You should not be asking for a raise “since your salary isn’t keeping up with the cost of living.” If you’re asking for a raise, it should be because you’re providing more value to the company in some way. Because you’ve grown your skills, because you’ve exceeded the expectations they had for you when you were hired, because your responsibilities have changed, because of something else. When costs increase for you due to inflation, they increase for the company as well.
Median household income in Memphis is $51k. For “non-families” (single people living alone or with others) is $38k (according to worldpopulationreview.com, which I know nothing about). So that would indicate that $58k is, in fact, more than enough to live on. But you might have to find a different place to rent, or get some roommates.
Others have said he isn’t qualified to say what you can live on. That’s true - but OP brought it up. If you bring up your personal finances in a conversation with your boss, then he’s entitled to tell you his opinion. Keep it professional. Don’t talk about your personal finances; talk about your value to the company.
Yeah, I was gonna say, 58g in Memphis is pretty do-able, then again it depends on what the job is, education, training- but as far as keeping up with the cost of living, 58g is more than most teachers make in larger more expensive cities- not saying it's right, but...
Leave. At a former role, I found out that I was being paid less than people who came in after me and who I trained. I was doing my job and the job or my absent supervisor's supervisor. HR didn't care, my manager couldn't do anything, I just got a better job.
Yeah I don't know what's with my job I've been there 3 years and I'm still just bleeping groceries at 30 hours a month sometimes and they're people who were there less than 6 months already been promoted and they've got all sorts of excuses why they can't do anything but keep me bleep and stuff there like I'm some high schooler trying to get pin money or some retiree trying to not lose my mind out of boredom
Wow, it does sound like your manager is trying to get away with paying you the bare minimum. You want to think about finding a new job with better pay
I wish I made that much. I make 16.50 as an administrative clerk and trying to support a family of 4. I’m having a really hard time getting into another higher paying job.
I don't know if $58k is good bad or just about right for your position and you might not want to hear this but "I want to spend more money" isn't going to get you very far in salary negotiations.
Next time go in and make a business case presenting facts:
Since I was hired/over the last year I've taken on x/y/z responsibility that was outside my job description.
I've achieved high levels of customer satisfaction as reported by our surveys
During our annual performance review it was noted that I was rated as outperforming (or whatever the equivalent on your system is. Also, if you were rated needs improvement it might not be the best time to ask for more $).
I've received XYZ industry certificate/training etc
And lastly: market data - based on available data the market rate for job postings with similar roles is $65,000. Given this along with my track record of performance I'd like to work with you to bring my compensation back in line with the market.
^make sure you get real #s and if you really are far under the market rate start applying elsewhere as well. Even with a cogent argument your employer might just not be willing to make the change, but you'll be far more likely to get a positive result of at least be treated seriously this way.
This is what I did to get a raise. 55k to 63k (as a team lead)
Had to show market value for my role, cost of living increases YoY, and I did NOT focus on location to ensure it was not a WC vs. EC thing. If I’m making 75k on the west coast Im asking for every bit of that.
“To better align with cost of living increases across the United States, I’m requesting an $8500 raise, approximately $2500 is due to my experience and job performance, while the other $6000 is based on the X% COLA via the US-SSA‘s findings.“
one thing I received feedback on… I was not approaching the conversation as a teammate but as if I were fighting for the raise. I believe my leadership was on board but I did not feel that from them, as the environment was hyper competitive and cut throat.
Find a different job and try and use it to leverage a better salary there, or simply leave. But a lot of companies know they can keep paying people what they pay them and people will stay. If you leave, they’ll have to raise the amount to entice the next person lol. So long story short, they’re just hoping you’ll stay. Call their bluff.
Honestly any company not offering living wages to their most valuable assets, employees, or investing in them must be either struggling financially itself or lead by incompetent managers. It costs nothing for a manager to build up and support their employees morale and feelings of self worth whether their is money in the budgets for pay increases or not. That alone is enough to turn a company around. A company's success is only as good as the success of its employees. Happy employees are those treated with respect and appreciated. In return the employees work diligently to help the company become successful. The company can and should continue that cycle by sharing the profits with the employees .. who in turn will keep the cycle going and continue working hard because they know now to trust the cycle. If you are lucky enough to find a company who hires managers like that and you are lucky enough to work for one, those are companies you never want to leave their employ.
I think it depends on the company's size. You could always go to human resources and ask about cost-of-living increases and increasing your salary, but at the end of the day, it'll probably still need to go through your manager. Your other option is to look for another job that pays consistently with the cost of living and your skills. Many people find it easier to earn more money when they switch jobs every couple of years rather than staying with the same company.
Addictions counselor 1, in these markets and since Covid all people are doing is job hopping. They’re not getting paid with bonuses or merit increases when merit increase increases are 4% and inflation is over seven. Job hopping is no longer a thing with employers, they know exactly what is happening and it’s really their fault. They are at fault for some of it.So job hopping don’t worry about it.
You're next move would be to quit complaining and be grateful that you make so much! Try living on $13,500.00 a year! I am single and the cost of living rise truly has me struggling. But hey......I am not complaining. I am extremely grateful for what I have.
Wow! Slave mentality much?
I'm not saying his actions are right. But think of this.... There are so many of us living off 25k a year. That is to cover rent, food, electric, water, and fuel. Be lucky you are making 58k a year. Many people including myself live off 25k a year. That means one meal a day if I'm lucky, counting change for the fuel to make that 25k. After rent and bills if I have enough for food I'm lucky. We have children to care for on that pay. My children eat and thank God for the public schools because they can have 3 meals a day because of the schools. Many days I go without eating so I can provide that third meal for my children. If you can't afford the rent then move to some where you can afford. I know the cost of living in Memphis. If you can't live on 58k a year then eat out less, move to where you can afford. There are ways if you try. You are complaining about a 58k a year salary and probably get bonuses as well before you complain think how you would feel making 25k a year also in Tennessee. Be grateful you can afford rent and food along with the things you want. Many of us can't even afford to feed ourselves. I wish I had your problems.
My first reaction to your response is that some people are more experienced and have gone to college, have hundreds of thousands of dollars in student loans that made it possible for them to be in that wage bracket.
People work very hard to get where they are and telling them to suck it up isn't a very progressive easy of handling these type of issues. We all come from very different backgrounds and familial wealth. Some people have more bills because they went to school to get that degree to make it possible to earn 58k a year. Most likely this person has the equivalent of a car payment in student loans and that was their choice but it still affects their living situation.
Just saying... Maybe be a little more open minded.
Your manager isn't qualified to answer what someone can live off; that varies by individual and that isn't how jobs are priced. If your employer isn't keeping up with the market, you should be able to vote with your feet.
It’s called chain of command you did go to your direct supervisor and request a raise and that was his response, so now move to the next step and if it is HR then use that channel, also let them know how you were treated. Always keep a paper trail and document everything. And if you don’t get anywhere with HR go to the next level. But documentation is do important. Good luck.
Thank you.
Find another job. They will replace you with someone making 75K.
true
Seriously? Average 1 bedroom in Memphis is $1,278 which is $15,336. That's less than 1/3rd of your salary but your salary "barely covers the rent"?
Exactly. A 3 bedroom house in a good neighborhood in Memphis is less than $2,000 a month. This post isn't plausible.
Things like "cost of living" seem like cute, HR buzzwords that attempt to make employees feel good when they get them. And usually a cost of living increase is a single digit percentage that has little impact to paying for things.
Now, your "negotiation" was not a negotiation. It was a plea, "please sir, may I have a little more?" Oliver Twist-style before he laughed in your face.
Salary negotiations are something like this:
Review your job requirements.
Determine what value you have added to your position.
Review the current market.
Update your CV/resume.
Apply to jobs.
Go to your boss and deliver the facts. (I have been in my position for 2 years and have hit over quota MoM/YoY. I have brought on x number of new business that contributed to $x thousands of dollars in new revenue. I see I have exceeded my job requirements and the current range for my role is maxed at $65000. I have already benefited the company with increased revenue. What do you think about increasing my pay to $65000 to match the current job market.
Let them reply.
Now, if after an intelligently laid out review of your value they laugh, then it is time to find another job.
Those offers you did were a holding place in the event your current job tells you to pound sand.
Finally, it hurts that a single person can barely live with that salary and I agree with some of these posters, find a roommate that is similar to you (working professional) that you can split the costs if your lifestyle is a bit more extravagant. Otherwise, look at ways to cut costs.
HR Director 1, the position's worth has a range. If he's in the lower end of range, he wouldn't know unless he does as suggested and "Review the current market", would he? I don't see how that is "dumb"
$58,000 is about $120,000 in NYC. We all want to make more and be comfortable. But maybe need to look at your expenses and figure out where you can scale back.
Other than rent and going out to eat in the pricier parts of NYC (counting the boroughs) the cost of living is comparable. You can get a place in the boroughs for $2000 a month, and maybe something similar in a smaller city for $1200-1500. So $58K might be like $70k in NYC, which is not a lot. These smaller cities are not cheap anymore.
The out of touch comments here are astounding. COL raises are absolutely a thing in some companies and sectors. Of course you can also work for a multi-billion dollar, publicly traded company with record profits and have to fight tooth and nail for a raise as well…because obviously the priority is the stockholders and not the people that made the record profits possible.
then wages need to be higher for those with dependents bc why cant a single man live off 58k? they dont even have beauty costs fr
To be fair that’s not a horrible salary in a place where you can get a nice apartment for 900 a month and there are no state taxes.
Regardless though, apply externally. You never stay at a place for the long term unless you’ve hit a ceiling for your industry/role.
nice apartment form900 a month, lol
I read an article the other day in which they did multiple studies across the U.S. They concluded that a single person needs to make at least $85,000 per year to live just a normal substandard life. Every city they did the study on the average salaries were all $20,000 or more under that mark.
99% of us don't make enough! We can barely cover our bills and food let alone even have any money in a savings account. We are set up for failure. The only reason there's a "minimum wage " is to trick us into thinking they're paying us so much cuz it's double the minimum wage, but not even close to what it takes to be comfortable.
I seriously doubt the veracity of that study. My husband and I own a house on Orange County Ca on 125k. My kids get by on dual incomes of around 80k- 90k with rent higher than our mortgage. It's a matter of minimizing waste in your life, not expecting to live extravagantly straight out of college like most people do. Personal responsibility.
Your boss is also insane if he thinks that’s enough to live on. I’m sorry. Sounds like leaving the company is the best bet if your own boss won’t vouch for you to be paid a living wage
Ok average and mean are literally the exact same thing. The rest of what you said was just as lame
Does your company not have an annual salary review? Which should be standard?!!
I have a feeling this was the OP’s first year at the job and they felt their salary wasn’t high enough after taking it. Not a person who’s been working there for years and is constantly overlooked. I gather this just based off they believe cost of living and their opinion of how far $58k should stretch seems to be their only reasoning for demanding more money.