Salary InequityHello, I work as an Accounting Manager at a large Financial Services Company in the northern Virginia/DC area. My current salary is $90K plus my current bonus was 20%. The issue that I have is that there are four managers in my group all with around the same workload/responsibilities. We've experienced high turnover due to workload/hours, etc. Two of the positions that have turned over are the other manager positions. Due to the high demand for qualified accountants in this area we've had to pay $105K base plus potential of 20% bonus to get two new managers in the door (I've seen the invoices from the recruiter - divide his fee by 20% and that gives the salary) and I've seen the jobs posted on the recruiter's website with the salary. My performance is at a level well above the other managers and I've been told this indirectly by my boss. I'm angered by the fact that I'm outperforming my peers and making so much less than they are. I've been told by my boss that this is adjusted in the bonus payouts which are partially based on our performance and partially on Company performance. Even still if I get the max of 20% that puts me at $108K if they get only 10% that puts them at $116K. Am I wrong to be angered by the fact that I'm making less than people that I'm outperforming just because they've been hired after me in a competitive environment? Is this the norm? Lastly is the best solution to increase my salary by changing companies and taking advantage of the competitive market or is it fair to ask my current employer to bump me up to the new market value? Thanks,
This sounds like a simple matter of supply and demand - your employer had to pay a higher premium to attract qualified people to the positions than was required to attract you. You have really two options. One is to make a list of all your accomplishments and ask for a performance and salary review. You can only base your request on what YOU'VE accomplished, not on what other people are being paid or what the "market value" is for jobs like yours. The other option is to quietly start a job search and see what sort of offers come your way - keeping in mind that it's always easier to find a job when you have one. Hope this helps. Paul W. Barada The Negotiation Expert | |
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