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I was promoted in April at a job I love. I have been here going on 5 years. I was so upset when they told me the amount of my raise...52 cents...it does not even cover my $120 a month health insurance. I work in banking. I would make only $100 less on unemployment which makes me sad. I have always been a very good employee and my performance reviews are always ranked as top performer. But everyone's raises are the same....between .26 and .32 cents. We receive a once a year bonus which comes out to about $800 after taxes. I have a bachelor's degree and pay $360 a month in loans. I have applied for soooo many jobs in NY but I have only worked in banking with no other experience and have been unsucessful finding anything that pays 50k or more. I just found out there are people working here with no degree making 3k more than me with maybe a year or two more working here What do I do? I am so upset and am at the point where getting fired would be a good option...maybe I could start a business....I have a few ideas and have talked to a SCORE counselor and some people about it and they said it is a good idea. I had some customers a few years ago but could not devote my time to it bc I was driven at work to do well.
The cartwheels the company expects of you over the raise and promotion.
If you are frustrated with how alternate job hunting is going, I suggest you check the Work and Employment thread about the hardships of finding work, especially through mediums such as Indeed. Your situation is becoming frighteningly common among work staff.
5 years "in banking" doesn't tell us much about what your actual experience is. How large is the bank you work for (not the branch, the company itself)? Why not move to a lower cost of living area?
I've worked in financial services for the past 12 years and have increased my wages five times over by taking strategic moves within the company and going external once - then returning.
You have to take charge of your career, and network!!
good luck
Similar boat here. 18 years never left but took on more and more and sit at 7x original earnings with no college degree
She did not write .52 cents, she wrote ellipsis52 cents
Initially, I could not have cared less when this issue was first brought up because I could clearly decipher what the OP was saying, whether it was incorrect usage or not. However, because you have now debated it, she did not use the ellipsis when she stated ".26 cents and .32 cents" further on in her OP.
Still, banking is not a great field for higher income levels. If your struggling getting out of banking, get some professional help with your resume to really dial in on your marketable skills and talents, and be able to better sell them with your banking experience outside of the banking field.
This depends.
Are you generally going to make a killing as someone in a small branch? Probably not, but corporate staff behind the scenes can do quite well.
With that said, $.52 is a little over $1,000 per year. Pound the pavement.
Are you generally going to make a killing as someone in a small branch? Probably not, but corporate staff behind the scenes can do quite well.
With that said, $.52 is a little over $1,000 per year. Pound the pavement.
Working anything in retail isn't really a "career" maker. You have to get into corporate or front office in order to make the bigger jumps. I've been in "banking" for 17-18 years and while your back office jobs aren't the best paying, the skills you learn there can benefit you elsewhere. I went from one credit union to another, then to a software company that made the software that I used at the first credit union and now into a lending co-op, moving from entry level at around $30k/year to an AVP at $150k over that time. It's possible if you have a business degree and work hard at showing people your worth. You also have to be flexible in location and be willing to relocate if necessary. I've lived in 5 different states over the last 17 years to go from job to job. Moving up isn't as easy as it was in prior generations where you could stay at the same company and go from janitor to CEO. In order to meet your career goals, you have to be flexible. Job-hopping is no longer a negative if you're hopping to better opportunities.
Working anything in retail isn't really a "career" maker. You have to get into corporate or front office in order to make the bigger jumps. I've been in "banking" for 17-18 years and while your back office jobs aren't the best paying, the skills you learn there can benefit you elsewhere. I went from one credit union to another, then to a software company that made the software that I used at the first credit union and now into a lending co-op, moving from entry level at around $30k/year to an AVP at $150k over that time. It's possible if you have a business degree and work hard at showing people your worth. You also have to be flexible in location and be willing to relocate if necessary. I've lived in 5 different states over the last 17 years to go from job to job. Moving up isn't as easy as it was in prior generations where you could stay at the same company and go from janitor to CEO. In order to meet your career goals, you have to be flexible. Job-hopping is no longer a negative if you're hopping to better opportunities.
Yep, totally agree. I do not make what you do, but had I stayed at where I hired in originally after college, I'd be making less than I do now. Far less. A $.52/hr raise likely isn't enough to be that consequential.
You'd make more money waitressing. Consider that. You're wasting your time.
IF I was working somewhere for 5 years and they gave me a 52 cent raise-I'd give them the finger raise and walk out.
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What do I do? I am so upset and am at the point where getting fired would be a good option...maybe I could start a business....I have a few ideas and have talked to a SCORE counselor and some people about it and they said it is a good idea. I had some customers a few years ago but could not devote my time to it bc I was driven at work to do well.
