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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...
have you tried using salaryscript.com?
Leave that job immediately
Sounds like you need to move or just buy a house . With 40k here per yr in my im about to pay off my mtg of 24 yrs in 8 months and my wife hasn't worked in the last 9 yrs due to her disabilities. So 58k is a great life . Learn how to budget and cook .
To be honest here $58k is enough..if only you’re living alone…cause I’m living alone so I would actually say that’s even more than enough
We all have to ask for what we want, but you are met with that much disrespect 😤 I think you have to look for a new job.
That may be the best for you and if any new prospects aren't offering more or enough 🤔 then you should stay where you're at, don't burn your bridges.
Prepare your resume. The job market is fairly good now. The economy should take off. If they lay you off their severance is decent. Do not resign unless you have an offer letter in hand. Do your job the best you can. When you get an offer the company you go to will ask for references. DO NOT do anything to make your boss mad until you are employed at a new company. Any company you go to should be better than TRI.
Look at the estimated salary online for similar positions with similar seniority. The question isn't whether you can live off that, but whether you are receiving the appropriate value of the work/value you are providing. You should also refresh your resume and start looking. A job search, even if you don't intend to leave, helps you keep track of your value in the marketplace of workers.
Make an itemized list or detailed graph of all your expenses and present it to him.
Good Customer Success workers are ideal salary plus commission or bonus salespersons. If you desire to make what you are worth, then get into a reward scheme that proves your point. It is important that you determine the area/industry in which you will thrive. We all have preferences. Example: Some people like selling computer hardware... others software. Some like serving older markets...other youth. In a salary plus situation expect to make a decent base plus commission or bonus. Most businesses that provide salaries look to invest 10% on your income for their return. Want more money... take job with more risk in commission. This works all the way to 100% commission which I would not recommend. Customer Service and Pre-sales Support people LIKE/NEED a stable base income. Nothing wrong with that. If you have family obligations. base salary plus "commiss"/bonus is the best "tip your toe into BETTER > BIG money." Don't pigeon hole yourself by charts and "comp.s" Prove your worth... and doors open. So... gather your swag.. find a job which you want but about which you may have natural concerns for success... offer to take s probationary period to prove your income producing capabilities... then take deep breaths and deliver. Good Fortune. Johnny
Your next move is to quit being entitled. Companies pay the job, not the person. Your job is worth $58,000 per year. Just stop.
What is the cost of living in Memphis? Compare your job description with your salary. I think you might need to do a reality check with your boss and show him you are not being paid what you are worth.
That sounds incredibly frustrating — it's hard when leadership doesn't recognize the impact of inflation on daily life. Sometimes, reevaluating your financial footing can help; for example, checking https://hillsboroughcountypropertyappraiser.us/ might give you insights into local market trends and what fair compensation looks like in today’s economy.
I absolutely think you should be asking for a raise! However, I agree with others that you should go in knowing YOUR value and what YOU bring to the job and company. Possible what you have learned and achieved in the amount of time you have been there too. Sometimes when we are "chummy, friendly" with your boss(es) that can be challenging but, you can do this! I suggest you, GO for it again with a different, more professional mind set. Believe in YOU.
58k is $4833.333 a month. That's pretty cush in the wage slave class. Revisiting this post has me wondering if you're living within your means but that's also simply not my business LOL. Get another job lined up that pays at least 10k extra, then go back to your boss and tell him you have a job offer with twice the actual difference and you would like him to match the pay or you will leave. (yes, I'm telling you to lie)
Nice
When it comes to asking for a raise, the best approach is to state your value clearly and build a strong business case. Managers have budgets—and so should you.
If your paycheck isn’t stretching as far, you’re not alone. That’s when it’s time to reassess:
Do you really need a car, or could public transportation work?
Could you rent out a room or downsize your living space?
Are there everyday luxuries you can cut back on? Too often people feel accustomed to extras—manicures, $8 coffees, eating out daily. But that spending behavior doesn’t equal affordability.
If you are ready for a change look for opportunities, whether inside your company or beyond. And when that annual review comes around, remember: sometimes a 2.5% raise and the security of not being downsized is a bigger win than it seems.
Success isn’t just about earning more—it’s about managing what you already have.
lol
shop yourself on the major websites for your role. see what other employers are paying for what you do at other companies. update your resume and start applying. dont tell anyone.
I think it’s better you quit complaining and give that job all you got.