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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...
Your pay rate is determined by the company you work for based on their perceived value that you bring to them. If they feel you are valued at a certain pay rate, that is what you get. They are not obligated to pay you for what your expenses are. However, you can do two things:
1. Make an argument to them about your value to the company and why it is worth a certain amount (cost of living is not an argument).
2. Update your resume and look for a different job.
Good luck.
I also wanted to add that the median salary for this position in Memphis is $74k, so $58k and asking for a raise does not seem like something you'd laugh at a person for. Now, if you've been there 6 months, that's one thing, but "keeping up with the cost of living" implies, to me, an ongoing history over years with a company.
https://www.google.com/search?q=average+salary+for+%22Customer+Success+Manager%22+in+Memphis%2C+TN
I THINK A PERSON SHOULD WANT TO BE PAID WHAT THEY ARE WORTH. With the tariffs war and the cost of living up. It's hard for 2 people to make. ALWAYS DO WHATS BEST FOR YOURSELF.
If your manager isn’t getting raises himself, you certainly won’t either. That’s why he’s laughing “get in line bud”
You interview and show them a better offer if you want to stay or just leave saying you weren't joking 😉
I'm not going to condone the manager's reaction. But your next step should be to learn how to negotiate a raise. Saying things like "my salary is not keeping up with cost of living" will only fall on deaf ears. It sounds like your complaining and whining. Negotiate on what you have achieved and the value you have added to the company. Then based on value you have given request your raise on those accomplishments. Don't sound like your throwing yourself a pity party....Do celebrate the things you have added by being a quality, high achieving employee and make that your argument.
while his response is out of touch, you don't get a raise because you can't live on $58,000. You get a raise because you add more value or your value is greater than $58,000. Rethink how you make the request by showing what you do to make the company better...
Watch out for age limit. All papers were about to be sign.. Don’t be over 75 years of age . We need to get together and see if we can throw some ideas around
The fact that he laughed shows he doesn't care. Might want to find another job that pays right or change your living situation.
This would be about when I'd start looking for new work and then tender my resignation. If they're not willing to be competitive, I'll take my skills elsewhere. It's clear that this boss is not a leader that's interested in investing in his workforce.
Leave, just leave, If the employer isn't continuing to invest in you, you skill up, get your resume together, find another job, and leave. Say nothing else to your boss.
Figure out why you are worth the raise. You never deserve a raise, you earn it.
tell him to get stuffed and find a better job your worth a lot more
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A really good idea
I would think that if $58,000 a year is barely enough to pay your rent the you should A - find a cheaper apartment or B - look fo a better job while you're still employed 🤔
I am an employee in Bozeman. My salary does not cover my expenses so I got a part time job. It's not your employers responsibility to pay you enough to pay your monthly bills. You took the job knowing what the salary was didn't you? Either you will have to switch jobs, switch careers or get a part time job. Also you could start a business. You sound like a 20 something to me
So, you believe a wage should stay at the level you accepted it at? How do wages rise for the same job over the years?
Cost of living, even though people get these raises, they never keep up with the cost of living. Employers have held it to 3% even when the cost of living has gone up 10%.
Just curious and please don't take this personally. In your time there have you done anything to improve your value to the company. If yes try using that approach, if no... well that is why your boss chuckled.
Always go with an offer in hand to let them know you're serious.
Tell them that this company approached YOU and out of curiosity, you played along and this is their offer.
Produce the letter, perhaps with redaction if you think retaliation may occur, and tell them what you do to be worthy of such a valuation and what you want to stay, or always be prepared to leave that day.
They may release you. You should get two weeks paid if you submit notice and they let you go. Alternatively, you are eligible for Unemployment for that period.
Just make sure you're holding the cards and you're ready to play them.
I would say check your finances 58k should be enough to afford rent. Unless you found like a really nice apartment.
When I lived in a larger city I made over $20,000 more per year and things were still tough. Rent prices are surging and there's nothing set in place to cap them so we're now paying $1000-3000 per month to live in places that have no amenities. It's all about greed. When every single thing goes up in price and even your fees and fees, but your pay stays the same is causing huge issues with hunger, homelessness and a larger number of people who can't afford a car to get back and forth to work.
But you could always start job searching