Follow the money

[onewhippedpuppy]

That's what my boss told me today, follow the money. We were discussing my current job situation, which would require the company to nearly double my salary to be comensurate with my position. He also stated that the days of staying with one company for an entire career are gone. Basically my boss told me that if I wanted to be treated fairly, I need to find a new job.

Rather depressing, isn't it? Coming out of college I always had the rather naive notion that if I excelled at my job, I would be rewarded. Is this concept a victim of our modern society, or do such places still exist?

[968rz]

I read somewhere (cnn, newsweek?) that those who move around to other employers do make more than those who stay put, makes you wonder why.

[Oh Haha]

I have heard the statement made by your boss from many in the past years.

Company loyalty is, in many cases, a long gone notion. My dad told me that back in 1988.

Of course, I was young and discarded it has rubbish. If only I had listened to him.

[Embraer]

I was told in an IP meeting....."there are these types of instructor pilots, and there are THESE type of instructor pilots. we want you guys to be right in the middle between them" (while the manager put one hand in front of his waist, and then the other hand above his head, settling in the middle.)

talk about a de-motivator.

......come on FAA classdate, come on FAA classdate, come on FAA classdate.

[Tishabet]

I have heard the same advice from a past boss... turned out he was 100% right. Inertia is not on your side.

[stomachmonkey]

He's correct.

I routinely give the same advice to my younger staff.

He's not being a dick, he's being honest.

[Neilk]

It sucks. The only way I got a meaningful raise at my current employer is considering accepting another job. I have had some promotions along the way, but internal "hires" never get paid market rates. So all the new hires with less experience are earning more than I am. Review is coming soon. I will need to weigh my options too.

[VaSteve]

The only way I'm getting a promotion at my place is to leave. Too many factors involved. The head guy told me that "a bird in the hand". There's no loyalty....either way. Good luck.

[Hard-Deck]

Hmmmm. I've been in the military my entire adult life. I have no contrast or compare but I'm glad I love what I do.

Good luck to you all in the job world. I love my career.

[Nazgul280]

internal "hires" never get paid market rates. So all the new hires with less experience are earning more than I am.

Bingo.

consider these scenarios and assume it is for a job that requires some level of skill, experience or education and you stay in the same level of responsibility (ie no large promotions), and keep in mind this is just a simplistic model:

#1
You work for the same employer for 10 years and get a 2-4% raise each year. At the end of 10 years you are only making slightly more than when you started after adjusting for inflation. Your employer has no reason to give you a larger raise and love to keep the cheap labor.

#2
You leave your job every 2 years for another similar job. During the interview process you either fib about your current salary or suggest you would only jump ship for a 8% difference in pay. At the end of the 10 years you've doubled your salary increase!! This increase is for your troubles at constantly keeping an eye out for the next opportunity, interviewing, and the stress involved in changing jobs.

I would trust your gut. If you think you should be looking for options, then chances are you're right.

[Buckterrier]

My father told me a long time ago. If you want to make money change employers. I didn't listen, been with my company for 25 years. No complaining but I'm sure I could have done better monetarily.

[A930Rocket]

Company loyalty is long gone. Between that and politics, they will drop you in a heartbeat to make ends meet.

Look after number 1 and that is you.

[david914]

Originally Posted by A930Rocket

Company loyalty is long gone. Between that and politics, they will drop you in a heartbeat to make ends meet.

Look after number 1 and that is you.

Amen to that. I was with a small private company that got bought by a large company a few years ago. I thought I was secure for 7 1/2 years until this past December. Got laid off while several other less qualified (lower paid) people got to stay on. Loyalty means NOTHING anymore. You're just a number.

[Joeaksa]

Stay at one place 5 years to get vested so you can take your savings with you and head to greener pastures.

[crustychief]

I think your boss may admire your abilities and possibly thinks you are worth much more than you are receiving ( I.E. being held back by present company). I have been incorrect before though.

[Rick Lee]

I got a 40% raise once when I went to give my notice to leave for a better offer. I was ready to walk too. I couldn't believe they beat that offer to keep me. Been there for almost eight years now. But I'd leave in a heartbeat if I could find a better paying job that let me work from home and make my own schedule. My income is base plus commission, so I can make more each year than the last if my numbers are good. Plan to crush it this year.

[LWJ]

To give a contrarian view, I believe that many CEOs have been internally promoted and have significant tenure where they work. It is a short-term long-term thing. As most of us will not be CEO, jumping ship makes sense. I personally have jumped ship for the last time. Nice, old fashoned company where they pay too much and act in ways that breed my loyalty.

Good luck.
Larry

[Oracle]

Originally Posted by stomachmonkey

He's correct.

I routinely give the same advice to my younger staff.

He's not being a dick, he's being honest.

+1
I did that early in my career and worked wonderfully!
The people I advised to quit and find another job are now grateful with me.

[wdfifteen]

Originally Posted by onewhippedpuppy

That's what my boss told me today, follow the money. We were discussing my current job situation, which would require the company to nearly double my salary to be comensurate with my position. He also stated that the days of staying with one company for an entire career are gone. Basically my boss told me that if I wanted to be treated fairly, I need to find a new job.

Rather depressing, isn't it? Coming out of college I always had the rather naive notion that if I excelled at my job, I would be rewarded. Is this concept a victim of our modern society, or do such places still exist?

I had a similar situation. Employee came to me with all these statistics of what the national average salary was for her position and blah blah and she thought she deserved a raise because all these other people were making all this money working for someone else. I told her basically the same thing your boss told you. Hope you have a good life. Good luck.
This is a capitalist society. The deal is between the buyer and the seller and the average price somewhere else doesn't mean squat.

[wdfifteen]

Originally Posted by Shadetree930

The ones that move make more than those that are loyal and stay. Sad but true. Follow the money.

Loyalty? Pfffffffffffffffffttt. You think the company is going to think about loyalty when they need to cut costs. Umm .... Nope.

Nonsense. I'll do anything I can to keep a good employee. I cut costs everywhere else, including my own compensation, before I cut employees. Good employees are too hard to get and too hard to keep.