Dear main editor, our reader is seeking to “understand the matters” regarding how to secure a higher salary.
My problem in the current job
I have been in my job for nearly five years. Although I love my work and colleagues, I don’t believe I am receiving adequate pay. While my colleagues haven’t shared their exact salaries, the things they have said have made it clear that I’m receiving much less than they are. Since the pandemic began, I have been working longer hours, and due to the number of people who have left, I feel like I am constantly doubling up on tasks.
My attempts to get a salary increase
I have tried to get a salary increase with little success. At first, my manager told me that the “budget would be reviewed,” but then the pandemic hit and we were informed that salary increases were frozen until further notice. Since then, we have started hiring more people, and others are getting salary increases, with the exception of me. Every time I brought up the topic with my manager (and even her manager), I was told that I needed to “wait my turn.”
Looking for new opportunities
I have started looking for new opportunities and I know I could land a significant raise if I decided to leave, but I really enjoy staying with my current company. I love the people there, and there are other benefits like work flexibility that I fear I would lose if I went somewhere else. Should I use a new job offer as a means to pressure my manager into giving me a raise?
Responding to the issue
Alas. There is nothing good about doing work where you feel overwhelmed and unappreciated, and worse yet, to be compensated less than you deserve. And it’s likely that threatening your employer won’t improve matters.
You are not alone in your situation. Many Americans right now are wondering if they can find a better job, or at least better pay, if they resign and move to work elsewhere. According to the latest survey from the Bureau of Labor Statistics, a record number of workers have quit their jobs, and many employees are seeking opportunities with better pay elsewhere. If you are looking to seek a new job, now is a good time for that. There is a labor shortage, with job opportunities relatively high compared to the current unemployment rate. Employers say they are having difficulty finding qualified workers, and many are willing to pay more or offer benefits like signing bonuses in attempts to attract new talent.
Using a new job offer as a means to get a salary increase
But let’s get to the crux of your question. Should you use a job offer as a means to pressure your employer into paying you more? In my opinion, no. While this may be good for a one-time salary increase, what will you do in the next year? In the next two years? Will you need to keep fighting and manipulating your company to get more money?
Generally, I don’t believe anyone should have to beg their manager for a raise. Who wants to stay in a place that doesn’t appreciate them? While many people find personal fulfillment through work or become closer to their colleagues, work is ultimately a value exchange. Tangible value is given for your time, talents, and performance in the form of your salary and other benefits. So why not go to a place that values those things more highly?
Strategy for getting a salary increase
Checked
With Alison Doyle, a job search and career expert at The Balance, to get the best strategy to force your boss to pay you more. She says that if you have already tried to get a raise and have not succeeded, “the best strategy may be to move to another job.”
Doyle says using a new job offer as a means to increase your salary can make the employer feel alienated and make it difficult to stay long-term.
Doyle also states that “the other benefit of looking for a new job opportunity” is that depending on what you do, you are more likely to earn more money by changing jobs rather than getting a raise. One study from ADP indicates that “workers who changed jobs” saw a wage growth of 6.6% in September, compared to 4.8% for those who stayed in their jobs.
But Doyle warns against leaving your current job until you have a new one. Even with a labor shortage, she says that “your experience still needs to match the jobs that employers are hiring for.”
So start applying elsewhere so you can get rid of your current underpaying job. You should negotiate to keep some work flexibility and benefits you fear losing. Good luck!
—Kristin
If you have questions about money, Kristin is here to help. Submit an anonymous question and she may answer it in a future article.
Sources
The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts in our articles. Read our editorial process to learn more about how we verify facts and maintain the accuracy, reliability, and quality of our content.
Bureau of Labor Statistics. “The resignation rate of 2.9% in August 2021 is the highest on record.”
Bureau of Labor Statistics. “Job openings and labor turnover summary.”
Bureau of Labor Statistics. “Employment situation summary – M10 results for 2021.”
ADP. “ADP Workforce Vitality Report.”
Source: https://www.thebalancemoney.com/would-another-offer-force-my-boss-to-give-me-a-raise-5209022
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