Loyalty to your team/company
I know this is probably an easy answer to some people, but what do you do if you feel some loyalty to your company because they've invested in you as a leader but you feel frustrated with consistently low comp and want to look elsewhere?
Ask for a raise, with objective data to support your request?
Here's a way to think about it: You never know the true price of something until you try to sell it. The idea is called price discovery. It's what markets do: connect buyers with sellers until there's a gap between the lowest offer and highest bid, revealing that the true price is somewhere in between. You don't know what compensation you can command until you try to sell your labor by applying for new positions. It sucks, and compared to actually doing the work, sure seems like a monumental waste of time, but there is no incentive for your employer to do this price discovery for you. Send out your applications, do your interviews, collect your offers, and return to your favorite employer with the good news that you discovered the fair price for them. You did them a favor. Now they can pay you the rate that will keep you satisfied and working on their product instead of your price discovery.
thats the TruePrice hahahahaha
THIS. SO MUCH THIS. I spent way too much time at a previously employer (probably a year too long) in a situation where I cared a lot about the company but was getting taken advantage of in terms of pay. Once I finally got myself out there in the market I felt so much better about understanding my market value and the opportunities I could get. I ended up taking an offer with my current company and didnāt feel bad at all about leaving the previous one to which I had so much loyalty. They didnāt even attempt to match or counteroffer to keep me, so clearly my loyalty to them had been foolish!
If theyāre āinvesting in you as a leaderā but failing to pay you for the part are they really investing in you?
I learned the hard way, at a massive consulting corporation, that you have to look out for yourself. Most of us sacrifice ourselves thinking itāll pay off in the future, but at the end of the day, even if youāre loyal to a company, it doesnāt mean theyāll be loyal to you
Companies don't have feelings.