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Hi Guys Deloitte Accenture Infosys I joined a startup 5years back they gave me salary as cash for starting few months because there company not registered after that they Deposit to my A/C, Now third party agency asking me to submit bank statement for starting month . I don't have form 16 OR PF . I worked there around 2years.
Now how to proof?
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Hello folks,
Looking for some honest advice. Considering an offer with SocGen B’lore for Specialist Software Engineer position with 5.5 years exp and into Tech service management. Could you please tell me a bit about following points?
- 25% of the compensation(5Lakhs) is Variable. Does company even pay 60% of it at the end of the year if you perform say 4/5 rating?
- What is an average annual hike that the firm gives?
- How is the work culture and LGBTQ inclusionpolicy? Société Générale
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Hey! Any Google folks know if it’s possible to negotiate fully remote if a contract role is hybrid? Personally, I don’t want to relocate and go to the office on a contract role given the current economy. Plus, I’m assuming contractors are the first to go in layoffs. I just think it’s a fair trade off if I’d be allowed to work fully remote. I’m also trying to have flexibility to manage my Airbnb business in a different country. Same time zone as the home office if I’d travel weeks at a time.
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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...
Please just STAY THERE until you find better. The last thing you wanna do is LEAVE and have NO INCOME or put yourself in a position to get picked on by mgmnt or fired because that can happen.
This is the truth!! stay but look! I have been in nearly every aspect of IT from under paid to ohhh, finally, what I think my self worth is. I am still trying to break that 80 pr year range.
I would stay pleasant at work, get your ducks in order... get that resume looked over. You may need to fix it for every company you apply to (trust me, it is tedious) . What's important is that he now knows you are looking for more money, you are on his radar, as someone who is self aware of self value.
Leave! But before you do that, take the problematic issue to HR. If there isn’t any success through the disposition of the matter, seek an alternative measure
That sucks and I made less but was married and know for a fact that $58k isn’t enough to live on being single. I was just blindsided and let go at $46.5k and after taxes and our fluxing economy it’s not realistic. Find something else. I’m having to do that now too. It’s harder when you loved your job. Good luck on your search! I’m there with you!
Did chicks unless you want to live in a 200 ft shock in the literal middle of nowhere houses start at over a million dollars 58k wouldn't cover a standard down payment
Yeah I would laugh too however that would be to avoid my heightened state of annoyance. It's a diabolical system. Companies lose millions each year in that they fail to recognize those that truly care
Companies hardly ever lose, very few... but the #1 controllable expense on a P&L is PAYROLL.
We are all replaceable, sadly
Do some market research and see if other companies are paying more for your role. Apply to a few, see if you get an offer. Then, it’ll be up to you if you take it, or if you do want to stay at your current job, ask your boss to match. The worst he can say is no, and then you leave for the better paying job.
But, it’s not all about the salary - if your current job has perks that you won’t get elsewhere, you’ll need to decide how much those are worth to you.
I just changed jobs recently and got a huge salary bump, more stability and better perks out of the move. But I had to be just unhappy enough at my old company to look around to see what else is out there. My company wouldn’t match, so I left and they are still trying to fill my role 5 months later, their candidates are declining offers because of pay. If your current company isn’t competitive, find one that is.
you need to demonstrate why you're worth more than 58k. Might be a moot point if your boss laughed at you for asking, but it's not a bad exercise regardless, because if you search for a new job, you'll want to similarly explain to them how you were able to positively affect the revenue of the company you're leaving
My view on this is simple. If you value your employees, and you know your employees, then you know the work they're doing and it speaks for itself. If you're sitting there laughing them out of the room, you aren't interested in investing in them, you're interested in lining your own pockets at their expense in a world that is demanding more and more.
If you want more out of your people, start giving better. Otherwise, people who were working above and beyond will start working their wage and not a penny more. We see it all the time in IS, when an employee gets that mouse jiggler they've been looking at. ;)
Tell him you’d love to know how much he’s making and give input about whether his salary is out of proportion with his cost of living, since the company ethos is apparently personal survival. Perhaps he needs a pay cut.
He laughed justifiably, because the very idea that you think you deserve a raise because the cost of living has increased is extremely laughable! Pay raises are earned. You have to show you are worth more money! If you are not worth more than your next step is to do what millions of other people have had to do in the last couple hundred years to make ends meet. Time to get a second, maybe 3rd job.
In what world does cost of living not come into play?
Using your logic, no one would make more than $15,000/year.
The funny part is, back when that was the national average, houses averaged about $45,000, new cars, less than $5,000.
Pay now averages about $65,000. Housing is well beyond the same multiple, automobiles are the same, food is well beyond what the multiple should be.
If the cost of living had nothing to do with pay, and the bottom line has nothing to do with pay, what exactly has made the wages rise?
Tell him a 30k salary in 1980 would have to be 122k today just to keep up with inflation...and that is inflation at the depressed number used by the federal government. We are lawyers, right? So instead of using your own individual purchasing habits (you might have a luxury apartment in Memphis for all he or I know) go to the federal source of the information you'll need...the Bureau of Labor statistics. They have an inflation calculator that is easy to use, but more importantly you can get the specific numbers for houring, fuel, food etc. for Memphis. Put a brief together and submit it as if you were your own client. That will increase the substance of your argument and request, and maybe show the Partner that you can actually make an argument based on facts (and you know where to get them). In case you have high recreational expenses...don't include those. Good luck?
I don’t think the original poster is a lawyer.
Hello, I am sorry to hear that your boss is not hearing you. First off, that’s awful that he would say that a $58,000 a year salary is more than enough. That’s not his place to say, and a horrible response! But, if I may say: when you ask for a raise, you must express the reasons why you deserve a raise, don’t say anything about it not being in line with the job title itself, or anything like that. You need to sell yourself and mention all the reasons as to why you deserve a raise, I would type something up and present it to him. List things that you have done during your position and especially list the things you handled that went above and beyond what was expected of you. If he still does not take you serious, or come to some type of agreement, then it might be time to seek another job.
Just as companies adjust pricing to reflect rising material and service costs, it’s equally reasonable for employees to expect compensation adjustments aligned with the increased cost of living—especially when their value contribution continues to rise.
Ok but the last line there ‘especially when their value contribution continues to rise’ negates what you just said. Hey the OP gone into the meeting able to show how her value contribution rose since being hired, that conversation might have e ended with either a promotion or a plan to get them promoted if they didn’t currently meet the requirements. Instead the OP went into the meeting saying ‘my bills are too give me more money for the exact same amount of work you hired me for’.
You people are either living in a rose colored world or are so inexperienced to understand how the real world works but people don’t just get substantially more money because they have bills. It’s possible they could beg for a cost of living adjustment (AKA COLA… although those tend to be handled for everyone on an annual basis) but even a COLA would only increase their salary by at most $2000 and thats if the company is feeling extremely generous.
My annual cola hovers between 2.5%-3% and is tied in with my annual merit bonus.
If the salary didn’t meet your needs, you should have negotiated something higher when you took the job not months after the fact. Thats on you!
Woah, 58k in this economy is shocking. You need to find a new job with better pay. I got an internship for 60k about 10+ years ago out of art college and eventually over the years increased to 80k but technically that is low pay for the amount of years I’ve been at this company and for how many additional tasks I took on. I should be at 95-100k+. I don’t know the cost of living in Memphis, but I’m in CA and my rent is pretty high. Asking for more money due to cost of living won’t work. It’s best to give reasons like how your responsibilities have increased, new skills you acquired, your contributions, etc. It’s not guaranteed to get you an increase, but it‘s a professional reason compared to the latter. I can tell you from years of working at large corporate companies that sucking up, networking and saying yes will get you a lot further than just being good and fast at your job. It also depends what kind of manager/leaders you have that makes all the difference. I‘ve received 1% and under before and my manager said they got the same even though they made way more than I did. It was an out of touch comment to say that especially since my colleagues and I were doing all the work and they did not have the same degree/experience to manage our team. It meant they heavily relied on us and had no clue what they were doing. To be honest they could have lied, but it’s insane to give under 3% when I was hitting all my goals and more plus the company was doing so well and the execs were making insane amounts of money. Anyways, the way the economy is right now it’s best to suck it up until you can find something better. A lot of layoffs everywhere and many open positions with an unreasonable work load while under paying people. Good luck on finding a better paying job!
It is not “shocking.” What’s actually shocking is that people don’t realize the SIGNIFICANT differences in costs of living around the country. Yeah, that would be a pretty lousy salary in NYC or Boston. In Memphis Tennessee, it is well above the median per capita income in the city, and slightly above the median household income in the city. So literally more than half the families in Memphis are living on less than OP’s salary.
And we don’t know a lot about OP’s job. It sounds like some kind of customer service job. We don’t know how long he’s been there, what training and education and experience he has. We don’t know if he’s good at his job.
So we really don’t have any reason to be “shocked” here.
It's important to consider the profession when discussing salary adjustments, as compensation varies widely across different fields. While inflation is a factor, companies typically adjust salaries based on comprehensive market studies rather than inflation rates alone. In Memphis, TN, the median per capita income is approximately $32,314, which means earning $58,000 is significantly above the median. If you are dissatisfied with your current pay, it might be beneficial to focus on upskilling by acquiring new skills, certifications, or degrees, or to explore other roles that align with your desired salary range.
I'm sure the cost of living is less there.
They laughed? I think you got bigger problems than not making enough to live comfortably. Either accept that you’re working in toxic work environment, or move on, because this isn‘t likely a situation that will be improving. I sincerely hope that you find a new job with higher wages and that respects you!
I don’t understand all these comments saying you have to bring more to get more. If a carrot costs more than it did last year then cost of living is entirely relevant. The same work deserves more pay. The carrot is the same as it was a year ago, it isn’t bringing more to the table. the boss would have to pay more to replace the OP today!
Exactly the carrot didn't become more of a character more nutritious in the last 4 years why is it four times more expensive but my hours and pay have gone down this year I made $3,000 less than last year and I still can't afford to even buy food the store where I work has increased prices in the last year but I have not gotten any more money I have gotten less
Coach
Ask what his salary is and how he’s living hehe
$58k is not a bad salary in Memphis. I live in Memphis. Our cost of living is WAY lower than pretty much anywhere in the country. It’s increasing, and rents are trending a lot higher than they used to, but $58k is pretty livable in Memphis. I think starting salary for teachers here is still about $40k, for example. My brother makes $16.50 an hour and was pretty happy about it
However: if you feel like you’re entitled to a raise, you should be talking to your boss about your accomplishments and how you’ve added value to your employer rather than talking about cost of living.
And really, too, if you feel underpaid, get out there and look at what else is out there. You may end up feeling better sbout your current situation, or you may realize you’re being taken advantage of. Both things are valuable info.
I'm not knocking Memphis, but I can't imagine what a single person rents there that costs almost $58,000 per year. I went there on vacation a few years ago, and it looks very affordable, not much different than where I am. I'm pretty sure that Graceland isn't available...
With all due disrespect, scrèw him. Look for something better.
"Median 1-Bedroom rent in Memphis, currently is $907/month. That is 18.7% of your gross income. Normal is 30% and many, many pay >35%. Therefore median throughout the US for 1-person, 1-BR would be about $17,400, you are likely paying $10,804, therefore I hope that you put the $10,884 into a Roth or regular IRA + 401k.
We’re a family of 5 and live off of 58k a year. I’m not saying your raise isn’t warranted but also, maybe take a budgeting course to help you manage your finances. We make do and have extra money each week. We don’t spend money on fast food or tv subscriptions. We just refinanced our car. We also live in a big city just a state above you. 58k a year for someone single is totally doable-given you’re not blowing your money on food, shopping, or every single tv subscription there is.