I got a $1.25 raise for a promotion I waited years for... What do I do now?
I've been working at a large retail company for a little over 5 and a half years. This was my first real job focused entirely around finance. It's a corporate job, and I started in AP as a "finance specialist." I knew the pay was a bit low, but at the time I was mostly just trying to get into the field and get my foot in the door.
Throughout that time, I pushed myself really hard, and my annual reviews always came back as "consistently exceeds." When I finally moved into the senior position on our team (still not a lead), my raise was only about $1.25. Then, with the regular annual raise, I got another 3.25%. Honestly, I feel like that doesn't even keep up with the cost of living. Someone else on the team brought this up with our director, and she pretty much brushed it off and said they're trying to keep things fair.
The company offers tuition reimbursement, and I have about 8 months left, so leaving the job right now doesn't feel like the smartest decision. I had an associate degree when I started, and I figured since they started covering part of my schooling, I might as well finish. I genuinely like the people and the culture overall, aside from the pay issue, but I also know I'm letting them pay me less than I'm worth.
I've been raised up a little after 5 years, but my workload has increased a lot. I'm handling company-wide inbound freight forecasting, reporting, budgeting, and much more analyst-type work than what I was originally hired for. I have a touch base with my lead at the end of this week. How do I professionally say that my pay needs to reflect the work I'm doing and the performance I've proven?
I had the conversation with my lead, and I made it clear that my responsibilities have grown significantly beyond my original role. I also pointed out my consistent performance reviews and the additional analyst-level work I've taken on. I'm now looking at how to prepare for the possibility that they can't or won't adjust my pay. If they didn't raise the salary, maybe I'll apply elsewhere. I've started reading tips on how to ace the interview and present my skills because after 5+ years at the same company, I'm honestly a little rusty when it comes to selling my experience.