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I've worked at a small retail / design company in San Francisco for the past 5 years. I started out at $12 picking orders, and gradually advanced into my current role as order fulfillment manager, where I make $45k base plus ~5k in bonuses a year. Recently, i've gotten a new operations manager (new position due to growth, i used to report to the CEO) and he has asked me about my salary and what I think of it since reviews are coming up. According to salary.com, a median base for my position in SF is 80k. I love the company, I feel my review will be stellar, but i've always sort of just accepted a gradual 10% raise without thinking about industry norms. Is it common to renegotiate a few years down the line at startups when a company or role has grown significantly? I feel like since I started out at a low hourly wage, that sort of set the bar going forward. Any general raise negotiation tips would be welcomed.
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Nov 8, 2013 04:13
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Ethanfr0me posted:I've worked at a small retail / design company in San Francisco for the past 5 years. I started out at $12 picking orders, and gradually advanced into my current role as order fulfillment manager, where I make $45k base plus ~5k in bonuses a year. Recently, i've gotten a new operations manager (new position due to growth, i used to report to the CEO) and he has asked me about my salary and what I think of it since reviews are coming up. According to salary.com, a median base for my position in SF is 80k. I love the company, I feel my review will be stellar, but i've always sort of just accepted a gradual 10% raise without thinking about industry norms. Is it common to renegotiate a few years down the line at startups when a company or role has grown significantly? I feel like since I started out at a low hourly wage, that sort of set the bar going forward. Any general raise negotiation tips would be welcomed. Generally it is tricky to negotiate a huge raise without changing companies. You are basically forcing them to admit that they've been dramatically underpaying you for several years. It is possible, though, and especially if they are adding positions due to growth you may have a solid case. I would double check your research, to ensure that 80k really is the base, and then I think it is fair to say "hey, we're growing, I'm doing a great job, it looks like the median for this area is higher, around X. I love the company and enjoy working here, and would be happy if my salary was adjusted to match the local median."
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Nov 9, 2013 03:20
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By all means ask for more, but I think your chances of getting a nearly 2x raise are nil.
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Nov 9, 2013 23:04
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He seems aware that you're not making market, since he's asking you about your feelings. However, I wouldn't expect a 30k raise. The most diplomatic way of going about it is something like this: "I love working with the people in this company, and the work that I do. I also recognize that in the first couple stages of a start up company, people have to be paid below market in order to accommodate the low cash flow intake. With that said, however, I think we're at the point where my salary is on the low end for this industry and responsibility. I realize I've been getting 10% increases year after year, but a substantial portion of those raises were simply due to how low my wage was when I started here." At the very least, he'll throw you some kind of bone.
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Nov 9, 2013 23:16
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Ethanfr0me posted:I've worked at a small retail / design company in San Francisco for the past 5 years. I started out at $12 picking orders, and gradually advanced into my current role as order fulfillment manager, where I make $45k base plus ~5k in bonuses a year. Recently, i've gotten a new operations manager (new position due to growth, i used to report to the CEO) and he has asked me about my salary and what I think of it since reviews are coming up. According to salary.com, a median base for my position in SF is 80k. I love the company, I feel my review will be stellar, but i've always sort of just accepted a gradual 10% raise without thinking about industry norms. Is it common to renegotiate a few years down the line at startups when a company or role has grown significantly? I feel like since I started out at a low hourly wage, that sort of set the bar going forward. Any general raise negotiation tips would be welcomed. "I love working with [this company] and I appreciate the chance you have taken on me. I've gained an amazing amount of experience working with you, which I value greatly. As a result of the increased responsibilities, my value to the company has grown. Let's work together on a plan to bring my salary up to 80k within the next two years, which is the median for order fulfillment managers in the Bay Area. I'm excited to continue my career with you as we continue to grow [our business]." The keys are to focus on your value, your new responsibilities, and above all, remain positive. Don't express any doubts that they'll pay you your value, rather express optimism that you can work with them on expanding their business. Believe it or not, they probably want to pay you what you're worth to them, especially since they know you're a good team member with a lot of upward potential.
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Nov 10, 2013 01:20
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Just to add, I only recently got an official acknowledgement of my deliverables / duties for the first time from any manager. In the past, I've just had informal conversations like "we need X done, etc." and i've absorbed the new responsibility. I'm thinking of asking for 60k, with a plan to add value / responsibilities to justify the raise over the next year. Eventually I see myself going from manager -> director as we add new distribution centers. Also considering going to Berkley for an executive MBA in the near future. Would mentioning all that help?
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Nov 10, 2013 03:27
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Ethanfr0me posted:Just to add, I only recently got an official acknowledgement of my deliverables / duties for the first time from any manager. In the past, I've just had informal conversations like "we need X done, etc." and i've absorbed the new responsibility. I'm thinking of asking for 60k, with a plan to add value / responsibilities to justify the raise over the next year. Eventually I see myself going from manager -> director as we add new distribution centers. Also considering going to Berkley for an executive MBA in the near future. Would mentioning all that help? No idea on if it would help or not, but you could potentially make this a part of your salary package, win-win for all involved (assuming it would enhance your job in such a way that it's worthwhile for the organisation to invest that money into you)
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Nov 11, 2013 04:36
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I've been looking on this forum and maybe I'm completely blind, but is there a guide to asking for a raise? This is the first chance I've ever really had where I wasn't at a non-profit where stuff was budgeted out 1+ years in advance and I have a six month eval coming up and by our own internal metrics I'm 85th percentile and I figure being new and doing that well might swing me some more cash?
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Nov 21, 2013 14:19
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I was recently in a similar position: hired below market value, have been getting raises due to good performance, but still below market. In absolute dollars terms I got a bump of a similar scale to what you are potentially looking at. I did a few things, calmly presented my position that I wanted to make market value, and then got that plus a little more on top. Here was my approach: - I started interviewing with other companies. I was ready to leave if I found the right thing. I didn't find anything that was perfect, but I did secure offer letters. This gave me both a realistic, personal gauge of my market value, as well as showed that I was a sufficiently mobile employee that there was a real chance that I would leave. - When my review came up, I waited until I was presented with the raise (which was still under market). I said I'd like to discuss the figure. I expressed that I was not satisfied with that raise, as I had examined my value on the market and determined that by moving to another job I could make more. - I did discuss finding another job offer. I discussed the offered amount of money from that other offer. I said that in evaluating that job offer, I didn't take it because of non-salary qualities of my present work, and due to the unknowns about jumping to another job. I also gave the time frame I received the offer in. I got the offer in July, and I had this discussion in October, during yearly reviews. - I highlighted that when I got the other offer, I didn't put a gun to my present employer's head. This cuts two ways, and I discussed them both. First, it demonstrates that I'm willing to work with my employer's current review process. Second, I highlighted that if I DID get a better offer, I was not going to come back and give my employer an opportunity to match it. I expected my salary coming out of a review to be competitive, and to be something that my employer felt confident would retain me for the next year. - I discussed my value to the company, and I discussed the positive qualities of working with my employer. I expressed that I would like to continue working with them, but that when there's a large gap between what they're paying me and what other people are willing to pay me, I need to seriously justify doing that. We went around in a few circles about non-salary compensation; specifically equity in the company and non-extant plans for additional employee compensation. I highlighted to my employer that their competitors in the employment pool also offer equity, and that a plan for compensation is not compensation. My employer asked for some time to consider my position, and I granted it. Two weeks later we met again, and I got the amount that I wanted plus some more. In your position I think you are probably valued, and your manager wants to retain you and your valuable skills. Your manager also probably knows that you are worth more than you are making. You must embrace this fact as reality, if you don't believe that you are worth more than you are making, you will not negotiate a raise effectively. Avoid making it about you deserving a raise, and definitely avoid making it a moralistic discussion about your employer wronging you in some way by not paying you your market value. Make the discussion about your ability to make so much money, about your level of satisfaction at your present company and your desire to stay there, and about the rational choice to be employed by someone who compensates you well. Also useful, is to frame the discussion as a salary correction rather than a raise. This is not a performance based reward for your performance over the past year, this is an opportunity for the company to match the market's demand for your skills. This communicates to your manager that your expectations NEXT year are not for another 30k raise. Good luck, and go in confident. You have a valuable skill set! You could make $80k a year! And you're a known quantity for your employer! Go in and make your case.
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Nov 21, 2013 19:08
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Eisenhower's post is right on the money. You have to take emotions or what you feel you deserve are owed out of the equation. The narrative should be the salary/market gap is a mutual problem between you and your employer, and that you want to work with them towards a solution. Invert this for a minute and imagine this scenario from a company/boss's perspective: You're a model employee whose been there for some years, they like you and the work you do and you like working for them, you've grown and done well and so on. But one problem is beginning to surface and get noticed, which is sometimes tasks given to you are left un-done and lost in the mix of things. They aren't super critical tasks, more minor, but they do cause problems down the line and obviously things can't continue this way. Now, a not-very-constructive approach for the company to deal with this is to come at you with guns ablaze. This is YOUR problem and it is UNACCEPTABLE and you had drat well better FIX IT, etc. Certainly there are cases where it's down to a responsibility problem with an individual and you need to take a harder line like that with it. But if they start brandishing the hatchet right away like that without working with you and digging into the issue first, it's just a bad way to respect your long and positive relationship with them and they're almost begging to dissolve that relationship. Maybe the problem is your position has grown into a spot where you're getting a ton of requests from a ton of different people via a ton of different informal avenues. Maybe Bob with sales took a 12 second chat in the break room bouncing some harebrained idea off of you as a binding contract that you will fully explore and execute on that idea by next friday, and when that didn't happen Bob made a big stink about it and now the appearance of how you mis-handled that responsibility doesn't match the reality. Maybe they need to acknowledge that it's unacceptable to expect you to handle task lists that are coming in completely unfiltered on a whim by half the company, and they need to put one or two people in charge of arranging and delivering those to you in a slightly managed way, or force people to use a ticketing system or always CC some supervisor to discourage people using you for inane time wasting passing-the-buck requests and so on. Or maybe it's just not something you're particularly suited towards so they might have to shuffle around things or give you more tools or set up some improvement goals to help you out or whatever. The point is while it's you that ends up dropping the ball on things, they're taking the approach that there's no judgement, no accusations, it's just a problem they want to look to solve and it's a mutual problem, not just your problem. That analogy is far from perfect but it's similar in the way you should frame things with them. Don't get mad at them for paying you less, don't imply you accuse them of ripping you off. Just bring it up as a problem that's surfaced and you'd like to address it with them. The implication that if it doesn't get fixed there could be a parting of ways down the road will be in there, they understand that and you don't need to lean on it at all. Focus on including them in on the problem and the solution. Same way as if your boss came to you saying "this isn't getting done right and let's look into how we can solve it". They're not threatening to fire you over it, they're focusing on just fixing it with you and moving on. It's understood that they'd only start looking to that if they exhausted options on working with you and the problem still remains, but neither of you are interested in thinking about that right now. That's the tack you want to take with them over this. That said you do have to present a case of it being a problem. But in your case I think you have a pretty solid one. I'd say it's fine to bring up or show the other offers as long as you frame it as you being worried one of these offers will come along that you'd "just have to take" because it makes too much sense in the numbers. They'll lay you off if it ever ends up making too much sense, too, it's not personal you're both just dealing with business decisions as they come to you. Make it clear you don't want to leave but that this gap in what's being offered outside of the company for similar work is becoming a threat to your job with them.
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Nov 21, 2013 21:31
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OctaviusBeaver posted:By all means ask for more, but I think your chances of getting a nearly 2x raise are nil. Making a 2x jump would be very difficult at the same firm but there are a variety of ways to jump up the salary ladder with various levels of risk. The least risky is to do nothing and hope they do the right thing (Not going to happen) Next do some research get comps and solid data matching up your job description to other positions, do a nice presentation of your past performance, include any good reviews you have, and show the disparity and ask for something closer to where you should be. Next is go get another job. Next is go get another job committed (offer letter) offer and use that as a backstop to present all that research you did and demand the pay amount you want. (by demand I mean if you don't get it leave and get a better paying job) Next is use all that research to demand the pay amount you want. Last is make demands with no research and no backup job plan.
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Nov 22, 2013 15:05
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Get a new job offer. Use that to get a raise. Be prepared to take the offer and leave. This is the ONLY way I got more then the bog standard position rate change (5-10% or minimum for job) at ANY company I have ever worked for. In fact, the last time this happened for me, I was passed for promotion, so I sent out feelers and got an offer, came back and they matched it (-$700 or so), so I'm now making more then the person who got the promotion.
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Nov 22, 2013 17:35
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LorneReams posted:Get a new job offer. Use that to get a raise. Be prepared to take the offer and leave. I think this could go either way. If he's interested in a long term career at that company his prospects will be tainted by having blackmailed them once. He might get more salary, but the guy who threatened to leave us for more money is not the guy you want running a division. If he gets a job offer that he likes, pays more, and would take over his current job, then there's nothing wrong with giving the current employer a chance to keep him, but getting an offer just to use as salary re-negotiation leverage seems like a really dangerous game.
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Nov 22, 2013 18:23
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KernelSlanders posted:I think this could go either way. If he's interested in a long term career at that company his prospects will be tainted by having blackmailed them once. He might get more salary, but the guy who threatened to leave us for more money is not the guy you want running a division. If he gets a job offer that he likes, pays more, and would take over his current job, then there's nothing wrong with giving the current employer a chance to keep him, but getting an offer just to use as salary re-negotiation leverage seems like a really dangerous game. If you are not getting offers, how do you know what your market value is? Expect your current company to figure it out? You should know exectly what you can get elsewhere otherwise what are you asking a raise for...to some amount of money more then what you are making?
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Nov 22, 2013 18:42
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I'd suggest doing it on paper rather than verbal. A formal letter request for salary increase with the research written down and documented, along with a list of how your duties have changed and any things you do to go above and beyond. I also agree with the "I'm really happy here and look forward to a long professional relationship" type talk throughout. I've done this twice, the first time I got nothing which was blamed on low cash flow, the second time at a different company I got a large salary bump but not as much as I asked for. I went from $50k to $60k while asking for $65k.
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Nov 22, 2013 19:32
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KernelSlanders posted:I think this could go either way. If he's interested in a long term career at that company his prospects will be tainted by having blackmailed them once. He might get more salary, but the guy who threatened to leave us for more money is not the guy you want running a division. If he gets a job offer that he likes, pays more, and would take over his current job, then there's nothing wrong with giving the current employer a chance to keep him, but getting an offer just to use as salary re-negotiation leverage seems like a really dangerous game. EDIT: One factor that works in your favor is the larger the gap (if your research on the market isn't insanely inaccurate) the more that will ring true to them as you being honest and not petty and put them towards trying to do something genuine to retain you. Bhaal fucked around with this message at 21:25 on Nov 22, 2013 |
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Nov 22, 2013 21:19
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Bhaal posted:Well yes, you have to be okay with taking the offer, I don't think anyone here is suggesting you try for a bluff. But I also don't think you should worry about it hurting your relationship long term, either. If you handle it even semi-professionally no employer worth working for is going to take that as blackmail. If you're not intentionally gaming them (ie. job searching once or twice a year and continually bringing any marginally better offers to them to twist the screws) they're not going to harbor a grudge. Just treat it as bringing a problem to their attention that could jeopardize your employment with them (and the cause of that is NOT that you'd get bitter and quit if they didn't eventually give you a raise, but that you're both at risk any time of getting an offer unsolicited that you'd have to respect due to the numbers alone). A good phrase to tinker with is, "You've known me long enough to know I'm not overly obsessed with what I'm making, I love what I do here and the team and (etc). But money still does have an influence whether I like it or not, and getting an offer of $X from somewhere is something that I'd be forced to seriously consider". This is good advice from Bhaal. It is literally the definition of "business" not personal. Be reasonable, be fair, be well prepared. It is all part of the game the career path and pay ladder can't be ignored if you want to get ahead. But don't make it personal, and dont' make demands/threats you can't keep.
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Nov 22, 2013 23:10
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mugrim posted:I've been looking on this forum and maybe I'm completely blind, but is there a guide to asking for a raise? This is the first chance I've ever really had where I wasn't at a non-profit where stuff was budgeted out 1+ years in advance and I have a six month eval coming up and by our own internal metrics I'm 85th percentile and I figure being new and doing that well might swing me some more cash? I propose that this thread is re-tagged and made into a general raises thread. There are posts here that I feel are worth a dollar per word. I only wish I read them before bringing up the subject with my boss earlier today. 
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Feb 6, 2014 22:29
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LorneReams posted:Get a new job offer. Use that to get a raise. Be prepared to take the offer and leave. I used this method with success. I ultimately accepted somewhat less than the new place offered me, but I did get a substantial bump(over 25%) and started getting bonuses that year.
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Feb 6, 2014 22:35
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If this is becoming the megathread the Salary Negotiation essay that's been posted on the forums a few times and is quite popular is here: http://www.kalzumeus.com/2012/01/23/salary-negotiation/
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Feb 7, 2014 00:01
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I've been wanting to ask for a raise but I'm uncertain about the amount. I've tried Glassdoor and Salary.com but I believe my situation is a little specific. - paid by the hour - successful, small/medium publishing house - US based but outsourcing a lot - all employees are telecommuting - hours are very flexible, I get to pick both quantity and schedule - officially an editor, but not the kind that works with text but instead has administrative and supervising duties that sometimes spread into hiring and acquisitions So, how much do you think such a position should be paid? Glassdoor gives $50k median for "editor" and Salary.com gives $56k median for Communications Editor II. I'm not from the US so I'm not sure about translating that to an hourly equivalent. Do the perks (I can work as much as I want and whenever I want, within reason, and also from wherever I want) lower the monetary remuneration?
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Feb 7, 2014 00:21
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I'm glad this thread came up when it did because my company has to give me a promotion in just a couple weeks when this new project starts and I am going to do my absolute best to wring every single last red cent out of it. My new boss absolutely loves me and I've been impressing the hell out of him for the past several months so I'm going down to the grindstone on this one. One of my friends from work is gonna be over this weekend to play nerd games with me and he has the same job title (in another department) I'm going to have so I'm gonna have to drag how much he makes out of him because I am going to arm myself with as much information as humanly possible before I sit down with my boss.
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Feb 7, 2014 01:28
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I have my own unique scenario here: Long story short, around a year ago I secured my first job out of college in a very niche field. I came in under market value but at a salary I was happy at because I felt the company was big enough to give me regular bumps. I quickly became really, really good at what I do. Within ~2 months of working there, I was being chatted up by my direct boss (whose more of a mentor than a boss, I'd say) about how I deserve a significant pay bump and chatted up by the president that I deserve one too, but to be patient. My company is a small division of a much larger company that usually adjusts pay in March, so I figured it would be bumped up maybe 10-20% then. Fast forward to November, my small team has been downsized to bare bones and the political climate in the parent company points to us getting shut down. We survived as we're part of a much larger picture, but we're farming out most of the data entry (albeit technical data entry) aspect of our operations to a new business partner in some kind of agreement. All the details are still being worked out. Point is: my company is looking to retain the few people that work now as we're needed to conduct the higher level duties of our jobs but everyone is so sick of the back-and-forth we went through since November that I might be 1 out of 2 people or the only person that does the day-to-day grunt work to stay. I'm extremely well-known in the industry now and truly the goose that laid the golden egg to my company. I kind of have my company over a barrel as to salary now. They also want me to move across the country to work in the business partner's offices, presumably to supervise how their team handles our operations, but I could say no and either work out of an office or work from home. That hasn't been solidified yet. I currently make 45k. Discreetly, my company president told me that he's looking to get me up to 65k-70k + equity, but that's an "unofficial" offer as it has to be approved by 2 other people. If I move, I'd be going to an area with a much cheaper cost of living. That offer would be awesome, but my coworkers have told me I could and should get much more. I'm thinking of asking for 80k, equity, and a a year employment guarantee. I'd also want moving expenses should I choose to relocate. Is that unrealistic? I completely have them over the barrel because they need me to train the channel partner's employees how to do our jobs, supervise them, and lead a new initiative from both companies. TL;DR: I make 45k a year. I have my company over a barrel because they're farming out our operations to a business partner, everyone else quit, and they need me to train up the people taking the bitchwork of my job, supervise them, and lead a new initiative they are rolling out. I'm also their prize possession/poster boy. They unofficially offered 65-70k + equity in the new initiative, but my coworkers (who are all quitting or interviewing to gtfo) think I could get more like 80k if I ask for it. Is it unrealistic?
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Feb 7, 2014 05:17
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ILoveYou posted:I have my own unique scenario here: You don't have anyone over any barrel unless you have another offer letter in hand. You're cocksure and it sounds like you're talented enough that it might be justified. Your competence doesn't extend to your company's management, necessarily. Even if you are indispensable, if you go in so confident that they absolutely HAVE TO give you a raise without a plan B, they can try to call your bluff. If they do, then what?
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Feb 7, 2014 17:22
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Without knowing what the hell you or your company do my thought would be if the company comes to you and offers to increase your pay by as much as 60% without being under direct pressure, and you ask for even more, they'd be pissed off. Also the year employment guarantee. What the hell is that? If you're so sure you're so indispensable and they're voluntarily giving you a huge raise, you shouldn't worry about that. You're 23, you have one year of experience and you're the goose that laid the golden egg for a company that's struggling?
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Feb 7, 2014 17:37
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[W2 CONTRACTOR TALK] I recently had to do a rate renewal for my contract and it went pretty successful. I did research on the market rate for my skill set in this location, then had a one on one call with the person who manages the contracts for our area. I told them I wanted what equated to a 68% rate increase, citing the market rate (which was a hedge fund rate, I didn't mention that  ), my likability at the job, and how efficient the client finds my work. Of course their immediate response was "ain't gonna happen, your renewal is already signed by the company" and "if you want that much, you're gonna have to commute back to the city again instead of your current 5 minute drive" so I played hard ball and told him my apartment lease expires this month and if they want to go that route I will take them up on that offer. After that he basically said "I'll get you more money, let me talk to them" and that was that. Actual rate is pending until both parties can agree but I think it went pretty well for me.He was totally right though, no way am I giving up this 5 minute commute. Sepist fucked around with this message at 20:51 on Feb 7, 2014 |
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Feb 7, 2014 20:49
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Doctor Malaver posted:So, how much do you think such a position should be paid? Glassdoor gives $50k median for "editor" and Salary.com gives $56k median for Communications Editor II. I'm not from the US so I'm not sure about translating that to an hourly equivalent. Do the perks (I can work as much as I want and whenever I want, within reason, and also from wherever want) lower the monetary remuneration? I have no idea what you should be paid but if you think it is $50k that is basically $24/hr with the assumption of 40 hours a week. That doesn't take into account any other benefits though, like 401k match, health insurance, stock, bonus, etc.
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Feb 7, 2014 22:12
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ILoveYou posted:I have my own unique scenario here: If you're extremely well known in the industry (and yet you only make 45k, in what industry does this happen?) and indispensable as you say you are, why do you need a guarantee of employment? Sounds like you are overvaluing your worth anyway if you are worried about being fired. But really, at the end of the day you have to ask yourself if trying to shoot for an extra 10% or so is actually worth it, considering you risk pissing off an employer who is already giving you a generous raise.
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Feb 8, 2014 03:01
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Odd question, but I think it might go here... Currently I make $35,700 a year base at a banking call center, but also get a 10% shift differential for working until 9PM on my entire salary, bringing it up to a bit over 39k a year. I interviewed for, and have made it to the second round, for a different position in the company. It's considered a lateral move, but it's in a specialized area (and only requires 3 hours a day on the phones!). However, because it keeps normal bankers hours, I will lose my shift diff. I do have a review that should be hitting in a couple of weeks. It was written by a manager that JUST left the company. I'm assuming it will be decent to good (especially seeing as the guy friended me on Facebook after leaving the company), and the likely raise would be about 5-7%. That will be in force before I would move over there and not go away with the possible new position. If I get this position, would it be uncouth to try to make it a salary neutral move, by seeing if I could get my base pay pushed up to the 39k I'm making now with the shift diff? I would only (likely) be asking for an additional 3-5% once it was all set and done. I'll take the position if it's offered either way, but seeing as my company likes to take a hard line on salary negotiations, I'm worried it might be offensive.
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Feb 8, 2014 03:32
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blackmet posted:Odd question, but I think it might go here... It's not offensive in any absolute sense. Craft your request in terms of mutual gain. You have a lifestyle you're grown accustomed to at your present income. You'd like to maintain that, but move into new responsibilities. A good COLA would be 2 or 3 percent. Your old boss gave you a good review. You jest want to keep making the same income with different responsibilities. If they get pissy that's their problem, not something you did wrong.
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Feb 8, 2014 15:12
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spwrozek posted:I have no idea what you should be paid but if you think it is $50k that is basically $24/hr with the assumption of 40 hours a week. I'm not sure the math is that simple. Here's what makes me wonder: - when someone puts 40 hours a week, companies usually put them on a full time position with fixed salary. That salary is less than what the employee would make if you simply multiplied their hourly wage by full-time work. By that logic I should be making more than $24/hr if that work translates to $50k/yr full time. - there are no benefits that you mention because I'm not a US citizen and I don't live there. It's up to me to pay health insurance and pension funds in my country from the money I get. There are also no stock options or bonus. That might also call for a higher wage. - on the other hand, people who make $50k drive to work and have to sit there 9-5, and I don't. So for that luxury I might have to suffer a lower wage. Doctor Malaver fucked around with this message at 19:53 on Feb 8, 2014 |
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Feb 8, 2014 19:46
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My hourly pay is literally my salary divided by 52x40. That is how I got to that number for you. Every professional place I have worked as salary had been that way. If you work more or less well it sucks for either you or your employer. All the benefits are on top of that. If you are hourly right now and work 40 hours a week at $24/hr you basically make $50k a year. spwrozek fucked around with this message at 22:34 on Feb 8, 2014 |
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Feb 8, 2014 22:32
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spwrozek posted:My hourly pay is literally my salary divided by 52x40. That's interesting - my experience so far has been different. Anyone else confirm/deny?
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Feb 9, 2014 10:27
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Doctor Malaver posted:That's interesting - my experience so far has been different. Anyone else confirm/deny? I'm salaried, but sometimes there's work that has to be done on the weekend and the company pays overtime for that, and they use that exact equation (but with a *2 on the end for overtime rates) to work out the overtime payment.
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Feb 9, 2014 10:49
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Doctor Malaver posted:That's interesting - my experience so far has been different. Anyone else confirm/deny? It's just simple math, it has nothing to do with what yours or anyone else's experience is. If you work a full time 40 hour week, that equates to 2080 hours a year. Take your salary and divided it by 2080 to get your hourly wage. If you are paid hourly and work a full time 40 hour week, multiply your hourly wage by 2080 to get your yearly salary. Doctor Malaver posted:when someone puts 40 hours a week, companies usually put them on a full time position with fixed salary. That salary is less than what the employee would make if you simply multiplied their hourly wage by full-time work. By that logic I should be making more than $24/hr if that work translates to $50k/yr full time. $50,000 a year divided by 2,080 hours is $24.03/hour. The only instance I can think of where your ideal hourly rate wouldn't apply is if you work a salaried non-overtime position and work more than 40 hours a week. I know a lot of people don't look at hourly rates for this reason because it wouldn't be accurate to say you make $x an hour when you work 40, 50, or 60 hours a week and it changes every week based on your workload. The Shep fucked around with this message at 14:13 on Feb 9, 2014 |
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Feb 9, 2014 14:08
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Cmdr. Shepard posted:If you work a full time 40 hour week, that equates to 2080 hours a year. Take your salary and divided it by 2080 to get your hourly wage. If you are paid hourly and work a full time 40 hour week, multiply your hourly wage by 2080 to get your yearly salary. A rough estimate/easier way to calculate it is your hourly wage is half your annual pay. So in your example of $50,000 a year, your hourly wage is $25. Pretty close to $24.03.
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Feb 9, 2014 19:04
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That's stupid. Just do simple math to get an actually accurate number.
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Feb 9, 2014 19:45
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razz posted:A rough estimate/easier way to calculate it is your hourly wage is half your annual pay. So in your example of $50,000 a year, your hourly wage is $25. Pretty close to $24.03. Or you know... Divide by 2080...
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Feb 9, 2014 20:19
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spwrozek posted:Or you know... Divide by 2080...
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Feb 9, 2014 20:31
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spwrozek posted:Or you know... Divide by 2080... Well yeah, obviously it's not as accurate but I browse jobs all the time and I'll see something like $13/hour and I'll think "hey that seems alright" until I just x2 it and realize it's about $26K a year which is pretty crap. It's not mean to be hella accurate, it's just a fast and dirty calculation.
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Feb 9, 2014 20:34
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