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Old 10-23-2010, 11:48 AM
 
Location: NJ
17,579 posts, read 43,118,076 times
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No one is going to be able to answer your question. Either talk with someoneo at your company or you will just have to wait and see.
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Old 10-23-2010, 11:53 AM
 
19,059 posts, read 23,544,752 times
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Originally Posted by lovetheduns View Post

Also-- a final scenario. Say compensation research showed that the market rate had changed.. maybe the new market rate is say 55000 versus 51000.. so in effect the midpoint changed. Then all of those in the pay grade may actually get a bump for a market adjustment then whatever their annual increase is.
Thanks for the analysis. I'm not sure how to figure out the market rate for my position. One thing that is so annoying in my industry is that titles aren't streamlined across the board. It varies from one co to the next. And my title is not even listed on salary sites. The closest thing I've found to my title doesn't match up with my job description or salary. It's difficult to figure.

Quote:
Originally Posted by Mightyqueen801 View Post
I scored a solid wood table for twenty bucks at a garage sale last Sunday!
Good score. I'm the same way. 90% of my house has been furnished by craigslist. I'm concerned about money because dh is in school f/t and we're running the ship on my salary. He works p/t, but that pays for his gas, car payment, etc.

eta: any way, I will definitely speak with someone in HR if/when the time comes. It's just a long way off and it's too early. It still drives me a bit batty, tho.

Quote:
Originally Posted by Mightyqueen801 View Post
Is there a way you can talk to someone in HR and find out what the company policy is? Where I work a promotion can get you up to a 10% increase capped at $7500.
I'm hoping for more than $7500, but that's probably around where it will be. I'd like $10-15k. I wonder if I can negotiate with HR. Is that possible? When I was hired on perm HR asked what I wanted. I asked for 15k above the salary I was making at the time and they came back with 12k. That was fair. They also stated it was based on the market rate, but wouldn't share with me how they figured it.

eta: and yes, I'll speak with someone in HR if/when the time comes.
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Old 10-23-2010, 11:58 AM
 
19,059 posts, read 23,544,752 times
Reputation: 13468
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Originally Posted by manderly6 View Post
No one is going to be able to answer your question. Either talk with someoneo at your company or you will just have to wait and see.
Well, people have been answering my question. Thus far, I'm seeing similarities, especially with the employment of market rates.
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Old 10-23-2010, 12:04 PM
 
2,017 posts, read 5,337,582 times
Reputation: 1671
Quote:
Originally Posted by Braunwyn View Post
Thanks for the analysis. I'm not sure how to figure out the market rate for my position. One thing that is so annoying in my industry is that titles aren't streamlined across the board. It varies from one co to the next. And my title is not even listed on salary sites. The closest thing I've found to my title doesn't match up with my job description or salary. It's difficult to figure.
Market rate is not necessarily something you can find on glassdoor, salary.com or anything else.

I know at my company they have specific comp people that do lots of research and work with companies whose whole purpose is to determine comp rates.

At my past two companies-- our salary ranges and bands were published.

For example, say my "salary level" is a IV then a IV would have its ranges published by geographical location (obviously a IV in NYC would be different than a IV in Kansas City).

So the midpoint is pretty much public for all and then you can see where your midpoint is and know where you land in the compa ratio.
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Old 10-23-2010, 12:16 PM
 
2,017 posts, read 5,337,582 times
Reputation: 1671
Quote:
Originally Posted by Braunwyn View Post
I'm hoping for more than $7500, but that's probably around where it will be. I'd like $10-15k. I wonder if I can negotiate with HR. Is that possible? When I was hired on perm HR asked what I wanted. I asked for 15k above the salary I was making at the time and they came back with 12k. That was fair. They also stated it was based on the market rate, but wouldn't share with me how they figured it.

eta: and yes, I'll speak with someone in HR if/when the time comes.

It would be helpful to know what kind of job you are in as well as what kind of company.

My last promotion was 10% which I thought was pretty generous considering I was already making over the minimum in the salary range for that role.
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Old 10-23-2010, 12:30 PM
 
19,059 posts, read 23,544,752 times
Reputation: 13468
Quote:
Originally Posted by lovetheduns View Post
Market rate is not necessarily something you can find on glassdoor, salary.com or anything else.

I know at my company they have specific comp people that do lots of research and work with companies whose whole purpose is to determine comp rates.

At my past two companies-- our salary ranges and bands were published.

For example, say my "salary level" is a IV then a IV would have its ranges published by geographical location (obviously a IV in NYC would be different than a IV in Kansas City).

So the midpoint is pretty much public for all and then you can see where your midpoint is and know where you land in the compa ratio.
On glassdoor.com I did find other people from my co that reported their wages (at my level and in other positions). On pay scale I did a report for a sort of similar job title and the average provided in the report pretty much matched my salary, it was just a little below.

I don't know how people figure it out. All these articles I've been reading say that you should know your market value before you start negotiating, but how?

Quote:
Originally Posted by lovetheduns View Post
It would be helpful to know what kind of job you are in as well as what kind of company.
I'm an associate scientist in pharma drug discovery. In my last dept the grades went from associate scientist to sci I, sci II, investigator I&II, etc. In my current dept we have two levels of associates. I'll be moving from I to II (hopefully).

Quote:
My last promotion was 10% which I thought was pretty generous considering I was already making over the minimum in the salary range for that role.
That's what I need to figure out. From what I've been reading it can range all over the place up to 20% or nothing at all. Again, given what know of my co, raises aren't great. My buddy works at a different pharma and their low end annual raises are around 4%. They typically get 5-7%. Needless to say, he's doing pretty well financially lol.
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Old 10-23-2010, 12:31 PM
 
Location: Elsewhere
70,946 posts, read 66,676,482 times
Reputation: 88346
Quote:
Originally Posted by Braunwyn View Post
Thanks for the analysis. I'm not sure how to figure out the market rate for my position. One thing that is so annoying in my industry is that titles aren't streamlined across the board. It varies from one co to the next. And my title is not even listed on salary sites. The closest thing I've found to my title doesn't match up with my job description or salary. It's difficult to figure.


Good score. I'm the same way. 90% of my house has been furnished by craigslist. I'm concerned about money because dh is in school f/t and we're running the ship on my salary. He works p/t, but that pays for his gas, car payment, etc.

eta: any way, I will definitely speak with someone in HR if/when the time comes. It's just a long way off and it's too early. It still drives me a bit batty, tho.


I'm hoping for more than $7500, but that's probably around where it will be. I'd like $10-15k. I wonder if I can negotiate with HR. Is that possible? When I was hired on perm HR asked what I wanted. I asked for 15k above the salary I was making at the time and they came back with 12k. That was fair. They also stated it was based on the market rate, but wouldn't share with me how they figured it.

eta: and yes, I'll speak with someone in HR if/when the time comes.
I am in the public sector, so raises and salaries in general are lower than they would be comparably in private industry. Sounds from your previous experience that you have some idea of how to negotiate--do the same, ask for high, and that gives them the opportunity to offer something a little lower that may work out for you anyway! Good luck to you however it works out!
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Old 10-23-2010, 12:35 PM
 
19,059 posts, read 23,544,752 times
Reputation: 13468
Quote:
Originally Posted by Mightyqueen801 View Post
I am in the public sector, so raises and salaries in general are lower than they would be comparably in private industry. Sounds from your previous experience that you have some idea of how to negotiate--do the same, ask for high, and that gives them the opportunity to offer something a little lower that may work out for you anyway! Good luck to you however it works out!
Thanks for your help, Mightyqueen. In your experience, does HR approach you when a promotion comes? Is a contract drawn up again? If so, that would provide an opportunity to talk, but I can't imagine them asking me what I want like the last time. That was pretty easy. I just had to write a number down.
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Old 10-23-2010, 12:54 PM
 
Location: Elsewhere
70,946 posts, read 66,676,482 times
Reputation: 88346
Quote:
Originally Posted by Braunwyn View Post
Thanks for your help, Mightyqueen. In your experience, does HR approach you when a promotion comes? Is a contract drawn up again? If so, that would provide an opportunity to talk, but I can't imagine them asking me what I want like the last time. That was pretty easy. I just had to write a number down.
No, we are not under any contract (except represented employees, which I am not). Normally, you apply for a promotion via an internal process, but for one of them my boss just put me in for it and told me after it was approved.

After a certain level, the $7500 restriction no longer applies because they need to keep exec level talent at a salary below what they would make for a comparable position in the private sector. There has to be some wiggle room when a high-level employee who bears heavy responsibility who is more or less on call 24/7 and has his or her years in to the pension system gets to a point where it would be worth their while to jump ship and take a more lucrative offer at a private company. Usually such an enhanced offer requires a commitment to stay X number of years in the position.
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Old 10-23-2010, 01:16 PM
 
2,017 posts, read 5,337,582 times
Reputation: 1671
Quote:
Originally Posted by Braunwyn View Post
On glassdoor.com I did find other people from my co that reported their wages (at my level and in other positions). On pay scale I did a report for a sort of similar job title and the average provided in the report pretty much matched my salary, it was just a little below.

I don't know how people figure it out. All these articles I've been reading say that you should know your market value before you start negotiating, but how?


I'm an associate scientist in pharma drug discovery. In my last dept the grades went from associate scientist to sci I, sci II, investigator I&II, etc. In my current dept we have two levels of associates. I'll be moving from I to II (hopefully).

That's what I need to figure out. From what I've been reading it can range all over the place up to 20% or nothing at all. Again, given what know of my co, raises aren't great. My buddy works at a different pharma and their low end annual raises are around 4%. They typically get 5-7%. Needless to say, he's doing pretty well financially lol.
So--- at my company a "raise" is the annual increase or merit time.

A promotion is the raise that comes from being into a higher level.

Here is how it works....

say, I get a Sr. Special Analyst job.

I am currently just a Special Analyst.

My salary is currently 60k.

Sr. Special Analyst minimum salary at a IV is 67,000 - 95,000 with a midpoint of 76,000.

In order to go from the Special Analyst (III) to a Sr. Special Analyst (IV), I HAVE to get bumped up to 67k.

Even if I think I deserve more, chances of negotiating that is slim to none.

Now say I am making 66,700.00 -- the company will more than likely give me a 5% increase only to 70,035 for the promotion.

Although-- depending on the hiring manager's discretion he/she may wish to give you a little more. This is what happened in my case. They wanted to make me closer to what my other team members were. They also wanted to treat me better than the minimum.

At my company, salary negotiation for promotions within the company is usually difficult. I had a friend who successfully did negotiate more due to relocation, etc. But for the most part it is not done since so much pay is NOT based on base salary but on more variable compensation plans (profit sharing, bonus, incentive plans, retention bonuses, etc).

The annual increase-- there is NO negotiation. It is based on performance, nothing more. And really, should never be a surprise (i.e. if you are not performing at a high level you will have known that through feedback with your manager, etc).
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