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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...
Maybe your manager doesn't see you as a valuable asset. You may not be providing the quality of work they are needing to justify giving you a raise.
I would consider finding another Job I don't think he cares and probably never will find something better for yourself!
Woow what's the hourly wage
If I am your boss..I will not laugh..ask me why?Because you never lay down your cards to convince me to raise your salary.
I am in Canada and my yearly salary after tax is 20k lol. But I knew from long before all the shitshow started so I started saving up since 2009. I am not financially struggling but doing ok. I have a small apartment that I paid fully upfront without any mortgage. Never have to worry about rent. Yes there's condo fees but I don't care. As long as I got this roof over my head.
I would say it's time to start looking for another position quickly. He will not change unless you give him a reason to an honestly, it's probably time for a change anyway.
I've heard it said: "Your raise becomes effective when you do". If you're earning the company more than you used to, you should get a raise.
As a multiple business owner with over 50 employees, when somebody asked me for a raise or sit down, we talk about their performance if it’s out of their annual review process, and the fact of the matter is what causes inflation, is wages. Be at wages from the corporate CEOs flying on their jets, my wages for me going on a cruise vacation every three months, or increasing your pay by 10 or 15%, wages are the number one increases to inflation
Apply for higher paying roles both within and outside your company.
Ask your boss what you can do to earn more money working under him.
Ask your boss for advice on how to live well within this salary.
I have multiple CS roles open and they're all virtual. Get a new job!!
if someone of the same gender with a similar or the same job as you is making more then you might have a discrimination case if you can prove it but unfortunately if you dont fit into a protected class you might as well get a new job if this one doesn't pay well. Employers aren't obligated to give you cost of living considerations. They offered you a job at that way and you are being paid so they are compliant. If you are performing work lets say at a director level and area being paid as a manager then you might have something but most labor attorneys wont take a case unless you were fired for a protected activity like reclass to director and back pay but if you just want more money for working its not really a thing.
Sorry, but 58 G a year is a lot more than most people make. Like 20 to 30 G a year difference. So consider yourself lucky in that, at least.
Maybe taking a job in a less expensive area is in order. Pretty sure that if you are making that much there, then you can find a place cheaper to move to where they will still pay you that much.
-First, be grateful for having a job. I am currently looking for one.
- Second, try to find a better job with a better pay and where the answer from a manager could be more better than the one you got.
- Third, find another job before move. Meanwhile, give your best where you are.
- Fourth, Take care of yourself and stay on the God side.
- Keep up and God bless you.
I don't know but if you find an employer who is aware, not entirely focused on his own bottom line... please share.
I agree with you that the cost of living is astronomical. I do not know what your rent or mortgage is. In NY rents start at over 1,000 a month if you are lucky. You did not mention what type of work you do, which would help. Did you just ask for a raise or sit down with a list of your accomplishments since you started in your position? Did you propose what else you are able to accomplish? During one of my reviews I received a lower grade for one of my tasks until I explained what I did do for my department and agency, she changed the grade when I clarified key points. It is so frustrating today, but it is the employers advantage now, not the employee, remember jobs are scarce! Also be introspective have you looked at your budget, I did and was able to cut quite a bit. If this doesn't work I would get your resume together and quietly start hunting. I do wish you the best
Time to move on. Update your resume and start searching for a workplace that will appreciate you. He doesn't sound like a rational human-being who will in anyway advocate for or support you as an employee.
leave
So you are single and a 58k a year you have trouble paying rent? So you saying yr rent is around 4 to 5000 a month? Lots of ppl who are living on less and maybe you should consider a place with less rent. I wish I had that problem of having only a 58k salary a year
Get married.
Apply for jobs and once you secure an offer, bring it to the table. It's either they pay more, or you jump ship. Either way you have negotiating power at that point.