I have read many posts on here about people complaining that they’re aren’t paid enough, just found out they aren’t paid as well as others at their company, or are verbally told they are getting a raise but never get it in writing.
I own a business and employ over 50 people. I can tell you straight up that payroll is my biggest controllable expense and if I can pay someone less and stay in business, I am going to try that. I also know that if I don’t pay enough, I will lose high quality staff. It’s a juggling act. How much can I pay so they feel like I’m paying them well while trying to hold back enough money to pay the bills and save some money for a rainy day? It’s different with every hire. If someone asks for a raise, they better show me WHY they deserve it. I’ll also weigh that decision with the marketplace and how EASILY I can replace them. Some jobs aren’t meant to make much, others should make more.
I pay my staff well enough that I experience low turnover. I have competitors who don’t. I chose this as part of my business model. It works for me but not everyone.
If you want a raise, ask for it, but realize you’re taking a risk of being told no. Give clear reasons why. Have a back up plan in place if you don’t get what you want. Get it in writing.
And if you think you should be making more then interview and take that new job, because odds are, you won’t get the kind of pay increase you’re looking for unless you leave.