#JobRaise #CareerAdvice #Inflation #LongevityAtJob
Hey everyone! 👋 Imagine you’re in a job where everything is going well, except for one major thing – you’re not getting a nice raise. Even if you do get a raise, it barely covers the increasing inflation rate. So here’s the burning question:
🤔 What’s the longest amount of time you would recommend for someone to stay at a job without receiving a nice raise?
In this scenario, how long should you stick it out before looking for greener pastures? Share your thoughts and reasoning below! Here are a few possible solutions to consider:
– Reevaluating your current position and responsibilities to negotiate a raise
– Seeking other job opportunities that offer better compensation and growth potential
– Speaking with your supervisor or HR department to address your concerns and discuss potential solutions
Let’s help each other out with valuable insights and tips! 💡 #CareerGrowth #JobSatisfaction #FinancialWellness
A year
What is a “nice” raise?
Most companies will give a yearly raise but to get a bigger raise, you either need to move up in position or ask for it. If you ask for it, have reasons for it. “I’m doing xyz more than anyone else” type thing.
The other option is to look for a new job. New hires tend to start higher than existing roles, depending on skills/level/type of job.
If I don’t get a raise, I start looking. So basically one year.
I always thought it was 2 years but apparently it’s 1? Idk. I feel like companies don’t give raises anymore just inflation increases and will do promotions but those are few and far between
As long as it’s liveable and it’s a good envoirement, several years.
Money isn’t all in the end, job security and solid work envoirement is just as important.
Focus on total compensation rather than raises. I’ve seen people leave incredibly high paying jobs because they aren’t getting raises and then are surprised when they can’t get the same salary elsewhere.
I’ve also seen people stay at incredibly low paying jobs indefinitely because they get 5% raises every year. If someone makes $30k and gets 5% raises every year, they still won’t break $50k for 11 years.
As long as you’re getting yearly cost-of-living raises, probably 5ish years? Depends on your circumstance.
For me, I’m in a role that’s senior enough that the next “step up” would probably be management, which I absolutely don’t want to do. I check for other jobs occasionally to see if anyone is paying more for my role, but usually it’s about the same and not worth a lateral move. So for me, it’s worth it to stay until I see a job that I want that also pays more, regardless of how long I’m at my current job.
If you have a lot of room to move up and they haven’t given you a substantial off-cycle raise in that 5-year period, then it’s time to change jobs so you can get a raise. Switching companies is always the easiest way to get the biggest raise. If they aren’t even giving you yearly cost-of-living raises, get out as soon as you can.
Answer is a bit situational. Early in a career it looks good on the resume to get that first 2 years experience before you dip out for hopefully a nice raise at the next place.
Later on in the career, if you’re already making above average market rate and the job is very comfortable, I might stay for a long time before dipping. My last raise wasn’t great at my company but I’m still making a salary that most places won’t beat by much so I don’t plan to leave too quickly…
Depends how long it takes on average to find a new gig once you start searching, but I’d give them up to a couple of years if I could see that there was a good reason and it didn’t involve the likely pending insolvency of the business. In that case, I’d be looking to jump ship ASAFP.
If the business was very highly profitable but the owner was just greedy & squeezing the staff with shitty raises or no raises, that’s cause for immediately starting the search also, IMO.
Well this post is eye opening. I’ve been at my company for almost 5yrs, only ever had 1 annual review which I think resulted in like a 3% raise. Besides that the company has provided two 5% COLAs…
I was going to ask the same question. It’s been 3 years for me. Nada! Not even a COLA raise. I’m also not paid market rate. Benefits are top notch though.
It depends. How is the employment outlook where you live. How is your industry doing. How is your company doing compared to others in your industry. Are there growth or training opportunities where you are. Do you like working with your boss and peers. Do you have an easy commute, regular hours, flex time, vacation and health care benefits. All these make up the factors for a good job.
One year. After one year there should be both a cost of living raise that matches the going percent, plus a merit raise for working there a year. The merit raise should be based on performance. And, this is a good time for leveling up or promoting, with another raise.
You are either learning or earning, if neither leave. I give it a year, maybe 2.
Depends on what you see as a “nice raise” and it depends on your performance
In the UK, as long as you are performing average for your company, minimally 10%-20% every 2 – 3 years.
Depends on the job. At my level (~20yrs experience) 2-3 years
Depends if the CBA is up for renewal. If it’s not, then I already know my raises for the next 1-5 years. If it’s up for renewal and they’re playing games, that’s a different story.
It really depends.
Are you at the high end of your salary ceiling? Will you be able to get a similar salary elsewhere? Do you enjoy your work? Is your work/life balance good?
If my bills were getting paid plus a bit leftover, I enjoyed my job and I was working low hours, I wouldn’t sweat a raise at all.
Like, if I was making $100k, I could pay my bills+save for retirement+buy some toys occasionally, and I was working 4 days a week+barely working on Fridays, I wouldn’t care at all if I wasn’t getting raises.
It’s been notorious amongst F500 companies that job hopping should happen every 1-2 years. It’s for the salary bump.
Internal raises usually cancel inflation.
Job hopping equates to high levels of salary bumps.
I know not everyone has a greed for $$, but at least be cautious of whether one can survive or not for the next 50+ years or not
What’s you total compensation package like? For example Do you get an annual increase + bonus? Sales percentage? Does the company pay for higher education? Etc…
Why are you worth more than someone else? What value are bringing in to justify higher pay? If you can’t answer these questions I can assure you your employer can’t either.
Time doesn’t always equal value. You need to bring more to the table than just “I have been here for a while”
No one is going to just randomly offer you a raise.
You need to request a salary review and put forward your case.
Explain what you bring to the company, any achievements from your time there and what your plan is going forward.
Do not hold them to ransom. Don’t expect them to give you a raise solely based on how long you’ve been there. You need to show that what you are bringing to the job deserves to be paid more.
Source: I managed to secure a 20% raise by showing how my role as evolved over the 2 years I have been with the company, and what value add I was bringing.