Asked for a 53% Raise (3 Viewers)

[comfortably numb]

What's the lowest you're willing to accept?

 

[Johnny Rock]

This is a sophomoric attempt at a humble brag.  To suggest that you started the thread under the pretence of “how can we all learn from this” only makes it more gauch.  But hey, congrats.  What big balls you have.  

Nearly every thread that asks about leveraging another job offer to get more money from your current employer or accepting a counter offer from your current employer to stay even if you didn’t intend to has many posters saying don’t do it, you’ll get fired later, they won’t trust you, etc. While I never threatened to leave for another offer it is a variation on that theme. 

I acknowledged before that I should have left (low) six figures off the OP. I’ve been thinking about your humble brag comment. If that’s correct in this situation it’s only as it relates to the audacity or ballsyness of asking for such a large increase. The humble brag was most assuredly not about the amount of money as I don’t really make that much. 

I haven’t seen anyone post their experiences with doing it this way or seeing it done. Some here work for firms that hire thousands per year. Surely someone would have a story and I’d love to hear one that’s more than conjecture. 

This “ask” was a risk and we’ll see how it plays out. Isn’t that the fun of new threads? I don’t start many. But it was not intended to be about the money; it’s about the ride. TTFWIW

 

[Otis]

Pretty sure today’s “FBG six figures” guys actually are making seven figures. Six figures might be impressive over at the Huddle. 

 

[Bossman]

Just because you sold 4 cars last week, you can't just multiply that by 52 weeks and say you make "six figures".

You need to factor in the "0" cars that you sell most weeks. I'd guess that puts you at about $35k a year.

 

[RUSF18]

Just because you sold 4 cars last week, you can't just multiply that by 52 weeks and say you make "six figures".

You need to factor in the "0" cars that you sell most weeks. I'd guess that puts you at about $35k a year.

Woof.

 

[James Daulton]

Pretty sure today’s “FBG six figures” guys actually are making seven figures. Six figures might be impressive over at the Huddle. 

lmao, the Huddle.

 

[skol asylum]

I make 7 figures. We're including the pennies too right?

 

[skol asylum]

The U.S. Census Bureau reported in September 2017 that real median household income was $59,039 in 2016, exceeding any previous year. This was the fourth consecutive year with a statistically significant increase by their measure.[10]

That's not one wage earner. That's a household.

 

[skol asylum]

https://en.m.wikipedia.org/wiki/Household_income_in_the_United_States#/media/File%3APersonal_Household_Income_U.png

7% of individuals in the US in 2014 made over $100K.

 

[James Daulton]

https://en.m.wikipedia.org/wiki/Household_income_in_the_United_States#/media/File%3APersonal_Household_Income_U.png

7% of individuals in the US in 2014 made over $100K.

Weird since 95% of FBGs do. 

 

[skol asylum]

Weird since 95% of FBGs do. 

73% of all statistics at FBG are made up.

 

[msudaisy26]

73% of all statistics at FBG are made up.

51 % are made up on the fly. 

 

[Poke_4_Life]

https://en.m.wikipedia.org/wiki/Household_income_in_the_United_States#/media/File%3APersonal_Household_Income_U.png

7% of individuals in the US in 2014 made over $100K.

We are the 7%!

 

[NeverEnough]

What's the lowest you're willing to accept?

Probably 1% raise & a hand job.

 

[Tom Servo]

I didn't realize we had that many teachers on the bored.

Irony alert.

 

[Ned]

It's Monday... I wonder how the conversation went. 

 

[James Daulton]

It's Monday... I wonder how the conversation went. 

I'm guessing something along the lines of "go #### yourself"

 

[tjnc09]

Weird since 95% of FBGs do. 

Haven't studies concluded that people who play fantasy sports are more affluent?

 

[James Daulton]

Haven't studies concluded that people who play fantasy sports are more affluent?

Perhaps more affluent but certainly of lower IQ.

 

[Poke_4_Life]

@Johnny Rock

I don't want to Hipple the thread, but based on some of your comments and your long term tenure at the company...  do you have any stock?  Have you asked for any?  If you have truly been instrumental in growing this company you should deserve a portion of the company.  

 

[Leeroy Jenkins]

About 500 employees. 25 stores in multiple states. Under $50MM in revenue. 

We have 100% match to 4% now. After seeing a better idea from Wilked in the retirement gamble thread I’m going to propose 150% match up to 6%. 

What data are you using to push for 150% match up to 6%?

 

[Tom Servo]

@Johnny Rock

I don't want to Hipple the thread, but based on some of your comments and your long term tenure at the company...  do you have any stock?  Have you asked for any?  If you have truly been instrumental in growing this company you should deserve a portion of the company.  

It's a privately-held company.

 

[Poke_4_Life]

It's a privately-held company.

And people own stock in this privately held company.  He deserve some.

 

[NutterButter]

so did you get the 53%?

 

[tjnc09]

He must have got fired.  Otherwise, he would be posting on company time and resources that he got the raise.

 

[Johnny Rock]

@Johnny Rock

I don't want to Hipple the thread, but based on some of your comments and your long term tenure at the company...  do you have any stock?  Have you asked for any?  If you have truly been instrumental in growing this company you should deserve a portion of the company.  

Thanks! I do not have stock but I have tried to negotiate it in the past. Non-starter. Boss is too tight and has his issues. It’s one of the reasons why I’m trying for a higher salary. Some would say, “But you never risked anything."   

I know 

 

[Ron Swanson]

Thanks! I do not have stock but I have tried to negotiate it in the past. Non-starter. Boss is too tight and has his issues. It’s one of the reasons why I’m trying for a higher salary. Some would say, “But you never risked anything."   

I know 

Try for "Ghost Stock".  It lets them keep control but allows you to share in the growth.  If you agree with the vision.

 

[Johnny Rock]

What data are you using to push for 150% match up to 6%?

The company is very profitable and the total amount the company contributes to 401k is fairly negligible. I think it can do more. My research is based on FBG Wilked saying that’s what his company does. So I want that too. 

 

[Johnny Rock]

Try for "Ghost Stock".  It lets them keep control but allows you to share in the growth.  If you agree with the vision.

Tried this and many other forms. I thought it was brilliant and fit my situation. 

 

[Johnny Rock]

We talked today at the end of the day. We ended up at 15.4%, backdated to January 1. 

After April 15 taxes he agreed to discuss Bonus once he knows what he has to pay in.

 

[Dan Lambskin]

The company is very profitable and the total amount the company contributes to 401k is fairly negligible. I think it can do more. My research is based on FBG Wilked saying that’s what his company does. So I want that too. 

My company does a 401K match (100% of 3%, 50% of next 3%) but also give an additional % based on age + years of service, I think the lowest you can get is an additional 3%...maybe try for something like that?

 

[offdee]

We talked today at the end of the day. We ended up at 15.4%, backdated to January 1. 

After April 15 taxes he agreed to discuss Bonus once he knows what he has to pay in.

So you ended up around a $20k per yr raise (versus the $60K per yr you were hoping for) ? 

 

[NutterButter]

We talked today at the end of the day. We ended up at 15.4%, backdated to January 1. 

After April 15 taxes he agreed to discuss Bonus once he knows what he has to pay in.

So how did it go down?   You obviously initiated with 53%, did he just counter with 15.4% or was there some back and forth?   

 

[RokNRole]

So you ended up around a $20k per yr raise (versus the $60K per yr you were hoping for) ? 

Looks like he utilized the Costanza method of negotiation.

 

[Johnny Rock]

So how did it go down?   You obviously initiated with 53%, did he just counter with 15.4% or was there some back and forth?   

Since I had given him data last time I knew he would cherry pick some data back at me. Of course his main data was four years old, one big step down in position and not even close to the same industry. He stuck with his normal you make pretty good money talking points.

His first offer was about 8%. I was not happy and gave the flinch. We talked about some more data. I was like this page says the average is about the same as what I gave you! He didn’t want to hear it. He’s not one for facts in such situations, such as hard company numbers either. 

I countered. He went up again. I said you’re gonna have to do better than that and he came up one for time.

Once I could tell he was pretty steadfast I asked him about a bonus. At first he said no but we kept talking, with me pointing out my contributions, profitability, etc. He expressed concern about committing to a bonus before dealing with others who are due raises and before he knows how much his taxes are. Said we’ll talk about it after tax season.

I asked him to backdate salary increase a year. He said he would backdate it to 1/1. 

He gave the ol’ let's see how it goes.   I called him on it and said how many years are you going to use that? It’s not like I’ve been here 2-3 years. 

While I did express some gratitude I still positioned for more in future negotiations as I build on my themes.

 

[James Daulton]

The whole negotiating like this with your boss seems weird to me.  Either you're widely underpaid according to your industry, or your boss is incredibly loose in how he handles these types of things.  Either way congrats, 15% is a great raise with bonus potential. 

 

[shadyridr]

Congrats on the 15%

 

[sbonomo]

We talked today at the end of the day. We ended up at 15.4%, backdated to January 1. 

After April 15 taxes he agreed to discuss Bonus once he knows what he has to pay in.

Wow you came down a lot.  I assume the 53% was never realistic in your mind? Why didn’t you stand your ground around 30-40%?  We need to teach you more about negotiating next year. 

 

[Johnny Rock]

Wow you came down a lot.  I assume the 53% was never realistic in your mind? Why didn’t you stand your ground around 30-40%?  We need to teach you more about negotiating next year. 

I don’t know that bringing a gun to the negotiating table is the right answer. 

 

[Weebs210]

Lol cucked hard on that 53%. Such big talk through this thread and you ended up with 15% lol.

 

[Dan Lambskin]

I don’t know that bringing a gun to the negotiating table is the right answer. 

Doesn’t it set a bad precedent though.  Maybe next time he thinks you’ll settle for 5%

 

[Johnny Rock]

Lol cucked hard on that 53%. Such big talk through this thread and you ended up with 15% lol.

   

 

[Weebs210]

   

*Expendable*

 

[sbonomo]

I don’t know that bringing a gun to the negotiating table is the right answer. 

Okay??????  Something tells me you left quite a bit on the table.  I have been following you for years so I feel as though you could have gotten more out of this guy.  Heck he lets his girlfriend run businesses into the ground and screws his staff every chance he gets.  If you are okay with the consequences (quitting) you may have a huge payday at some point.  If you are okay treading water keep doing what you are.  I think, based on your historical posts, he would keep you if push came to shove. 

 

[Captain Cranks]

Not much to add here other than to say I asked for a 54% raise and wound up getting 15.7%....soooo.  I'm also making six figures plus $1 in case anyone was wondering.  

 

[Johnny Rock]

Okay??????  Something tells me you left quite a bit on the table.  I have been following you for years so I feel as though you could have gotten more out of this guy.  Heck he lets his girlfriend run businesses into the ground and screws his staff every chance he gets.  If you are okay with the consequences (quitting) you may have a huge payday at some point.  If you are okay treading water keep doing what you are.  I think, based on your historical posts, he would keep you if push came to shove. 

Thanks for the encouragement. I agree but I don’t have the leverage at this point to push all my chips in the middle. Too much risk without a fallback. 

I asked his brother today if he had talked about his raise yet. It was a way to toss out there that I was surprised boss didn’t give bonuses already after the way he was throwing money around at his girlfriend. It’s good for him to know I’m not happy about it as they do talk.

He’s been so greedy with stock all these years. If I do opt for the big leverage conversation I’ll be going for it, either stock or ghost stock-type deferred compensation plan. It just might work and if it doesn’t I’ll be fine and someone else can deal with the bs. I’ve been casually looking for a while but not desperation-mode-serious which is what it might take to get an offer. My wife wants to move to FL so that’s the focus rather than the Twin Cities.

 

[tjnc09]

Not to brag, but I got a sweet 2.5% raise today......and didn't even have to ask. 

2.5% on 1m > 15% on 100k

 

[TheFanatic]

It would be in my world.



Had my yearly review and looking forward to my rockin' 2.25% increase soon.

Just had mine too and expect something equally as dismal. But then it occurred to me a few years back to stop wasting time on boards like these. Turned that time and energy into creating a business. Now that side hustle pays more than my main hustle. Once I figure out a way to self insure, I'll move to side hustle exclusively. 

My point is, instead of wasting so much time here and lamenting a 2% raise, go earn your own raise. 

 

[JAA]

Thanks for the encouragement. I agree but I don’t have the leverage at this point to push all my chips in the middle. Too much risk without a fallback. 

I asked his brother today if he had talked about his raise yet. It was a way to toss out there that I was surprised boss didn’t give bonuses already after the way he was throwing money around at his girlfriend. It’s good for him to know I’m not happy about it as they do talk.

He’s been so greedy with stock all these years. If I do opt for the big leverage conversation I’ll be going for it, either stock or ghost stock-type deferred compensation plan. It just might work and if it doesn’t I’ll be fine and someone else can deal with the bs. I’ve been casually looking for a while but not desperation-mode-serious which is what it might take to get an offer. My wife wants to move to FL so that’s the focus rather than the Twin Cities.

ITs great you got 15%.  It does sound like this guy is a selfish #####.

Sounds like he needs an ultimatum.  Either you are worth the coin or you arent.  If you can find better comp elsewhere because you are worth it, I could consider starting to look.