What would you do if you were me?
Just finished my MBA (Stern), which I did part time, intending to use it to advance within my current company. I have 9 years of work experience for a large medical device maker, started as a software developer and advanced rapidly to where I now manage a 12 person product development team and have program responsiblity over a few products.
The way my company does promotions is a joke (2.5-5% raise?!) and even after performing at the top for my entire career, my salary is barely cracking 100k (I do get a 15-20% bonus in addition.) I do enjoy what I do (for the most part) but I want more money.
What would you do if you were me?
I was top bucket last year and got 1%
I'm sure we aren't the only ones to get boned in the face with shitty raises.
But if you like your job hang on for a bit. I hate mine and am recruiting full time to GTFO. I'd stay for 100 if I actually liked the work.
I got less than 1%
I am also looking for a new job to GTFO.
I got 5% for a major promotion (and then they pushed my next review date back 6 months), not just an annual raise, but I digress.
I do like the work, it has a ton of bullshit that goes with it like everywhere else, but I try to appreciate how few people actual like their work.
My issue is more the "for a bit" part.. I'm 30. If I'm going to make it a switch into something, I need to do it soon. Should I be packing bags and polishing off the resume, or I am just being whiny? I do realize (like most of us on here) that I'm better off than 90%+ of the US population and 99+% of the rest of the world.
This is the reality of the new business environment in America. With the glut of qualified candidates languishing on the unemployed sidelines, companies can afford to dick around top performers b/c you guys don't have the options you once did in terms of exit opps. It's a reality the working class is adjusting to, either face the facts or do something about them. Simple choice, hard to pull the trigger...I know.
I don't think you're truly appreciative, it sounds more like lip service. You can try elsewhere and maybe you will do well, but the reality is that most people hate their jobs and feel like they deserve more. The reality is that you pay into a protection scheme when you work for a big company. In exchange for security, your individual contributions are marginalized. This is very much an unspoken bond between employer and employee in the New Normal way of doing business.
Again, I'm not quite sure you're aware of how good you have it. As with everyone else, I suggest shoving off on your own and captaining your own boat. Your chances of finding something in your niche with another company and making a lot more money are small. It's either take a big risk or stay where you are and focus on the positives of your situation over the negatives.
Midas,
Thank you for the reply. Agree with nearly everything you say above, and you offer good advice.
It's not lip service, I do appreciate that I like what I do - it was a conscious decision (at a fairly early age) for me to go into engineering versus finance, a big piece of that was lifestyle, knowing full well I would never be compensated the same. I had a strong interest in both at an early age, and I figured an MBA later on would be a good way to bridge them, and now that I'm here, I was wondering if anyone had walked a similar path and had some advice. I've been a lurker here forever so I appreciate the opinions.
As far as captaining my own boat, or at least going into something more entreprenurial where I had some skin in the game - that definately may happen, but I want some more cash in the bank first..
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