I'm working on getting a raise. I started in April of 2022 in my current role as a Finance Manager. Six years experience in the finance world and accounting in general. I run payroll, manage the books, and all things insurance and company benefits. Basically, a controller and HR head rolled into one. It's a small company (~20 employees), so being the jack of all trades makes sense, but it's a lot of work. I'm the only administrative role in the company. (i.e., not a software engineer or lawyer) My current salary is 90k. That was 20k more than when I started. I convinced them to go up to 90k about six months in because the original role advertised to me was "it's going to be a basic 9 to 5," and I ended up getting a startup whose finances were a complete s**t-show. I spent a full year cleaning up the previous 2 to 3 years and implementing real finance processes. Everything was being done incorrectly before I showed up for the job. Now I'm a few months away from the year anniversary of my raise, and I desperately need to ask for a raise because 1. I totally deserve the raise. I've gone above and beyond my call of duty and have been a huge asset to the company financially, and 2. Inflation is killing my personal finances, and I can barely afford basic necessities for my wife and kids. It's crazy how quickly 90k disappears. I know that reason number two isn't a good approach to ask for a raise; it's just more info I'm putting here for context. In the past six months, I got my company to invest their startup funds and have earned the company over 1.2 M. Obviously, they could have done that without me and before I showed up, but they never seemed to be able to get their act together. I know it's my direct involvement that brought that program to fruition. Part of what I'm faced with is that my CEO, who makes salary decisions, is pretty young and has quite the ego. I never know what his temperament is going to be, plus I basically never see him in person as I work remotely from a different city. He's quick to criticize and slow to compliment. I know he relies on me for a ton of things that directly affect his work (offer letters, stock management, financial reporting to investors and board). Without me, he would be super stuck in a bunch of places. I drafted an email basically saying: Hey CEO, Here are all my accomplishments. Please give me a raise. Thanks. I'm debating if I should put a line about how inflation is affecting me and my family. Conventional wisdom says not to. Not sure about that, though. Any tips or advice would be greatly appreciated. PS. first post on this platform, so sorry if that was a really long post :P #salary #raise #finance #startup
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Not sure where you're located, but the market rate for what you're doing is 150k+. While you should show the value you drive, be prepared with market comps showing what you would make on the open market and what it would cost to replace you
Thank you!!! I asked yesterday and my CEO said he wouldn’t consider anything until December which is 12 months from my last raise. At least that gives me an opening to ask what path we could take in the next few months that could get me there. Would you have any suggestions on where I can to find market comps?
Most companies are including salary ranges on job postings now. Search linkedin and other sites to find comparable roles/titles