Am I underpaid or is this competitive?
After a disappointing merit increase I've been wondering if I'm being underpaid in my current role.
I graduated last May and am working at a F100 manufacturing / distribution company as a Financial Analyst II. My title also throws me off because I joined out of school, but they brought me in as an analyst II... Not really sure how that works but I digress. Besides an FP&A internship during school this is the extent of my experience so far, I've been here 10 months. I'm currently making $57k soon to be a little over $58k, not bonus eligible, in an average cost of living city. Pretty comparable to Phoenix, Dallas, Houston. Quick checks on glassdoor, payscale, and salary(dot)com are all showing I should be closer to $65k, however I don't know how accurate that really is.
Part of the reason I'm asking is because I'm pretty unhappy here. I don't like the work and the culture is really shitty. If I do somehow find out I am underpaid it'd probably give me the push to start looking elsewhere after the one year mark.
I think it's low but given that you're in FP&A (assuming) $58K is average for in a city like Dallas. My friend is at regional consulting firm in Dallas doing Transaction Advisory Services, he is barely pulling $58K in his second year.
You're competitively underpaid
Is there anything I can do here? Or is sticking it out another 2 months for the one year mark and then looking elsewhere it?
Yeah jump ship ASAP. You'll get a 25% bump right off the bat.
Yeah, I'd say you're underpaid. I work in a FLDP at a F50 company in a comparable COL city and they started me out at $85k all in for my first year
How would I even go about bringing this up? I have all the salary reports but I feel like it’s way too early.
I'd get at least a full year under your belt and then apply and get an offer at another company for a comparable role with a higher salary and use that as leverage
Fresh out of college and earning 57,000 per year? Dude you’re doing better than a lot of people
I mean, yeah but that doesn’t mean I should just accept being paid less than what I can or should get
You are making roughly market for your experience. If you don’t like it culturally, leave. Otherwise after year 2 see if you can negotiate an increase.
Then earn a raise. Work more hours. Be the first person in the office and the last out. Take on side projects, offer new ideas to the firm. Develop the position to what you find exciting and deserving of a raise/promotion.
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