Wednesday, July 08, 2009

My Salary History (%)

Inspired by FMF

Year 1: I got my first job out of school. I made several mistakes. I first suggested a salary range and then I didn't negotiate above what was offered. Later I found out that I could have easily made 6% more starting.

Year 2: 8.5% increase, but since I made a mistake starting out, others in my job may have started here.

Year 3: Job change. 7% increase. Didn't negotiate this amount.

Year 4: Promotion, 13% increase. Year end raise, 8%.

Year 5: Market adjustment, 7%. Promotion, 15%. Year end raise, 5%.

Year 6: Promotion, 6%.

Year 6.5: Job change, 20%.

Year 5 was a big year for me. By this time, I had learned that I was paid much much less that I was worth. I asked my boss for more money and he said he would see what he could do. I would ask for the status of the request every so often. Finally about 6 months after my initial request, I got a 7% raise (during that time period I actually got my year end raise, but I was still below market even with that 8% increase).

This year, I was promoted, but I got a very small pay increase, once again putting my below market range for my position. I believe that is the major reason I was able to negotiate such a large salary increase in this tough economic times. There was also one extenuating circumstance that caused the company to give me a bonus, worth about 5%.

What I've learned from this - do good work, ensure you have a strong reputation, research what the market is paying, and don't be afraid to ask. If you don't ask, no one is going to hand things over to you.

I was promoted several times which contributed greatly to my salary growth. Without those promotions, there is no way I'd be making what I am today.

Tuesday, July 07, 2009

I Accepted a New Job

I am excited to say that I accepted a new job, starting later this month. I'm taking a bit of time off before getting started. I am excited to be working with really smart people, in more of a startup like environment, but doing similar work to what I'm doing now.

The best part . . I was able to negotiate a fairly large pay increase. I am finally going to be over the 6 figure mark!

The way I was able to get this offer was by continuously doing good work and over-delivering! Just the things that FMF is always blogging about.

I'll post information about my salary growth in my next post. This is something I'm really proud of since I think I made some mistakes early in my career in not negotiating what I'm worth, but I've since made up for that.