I know I can go a long time between posts. Before last week, I’d been super busy at work, in another crunch period working late evenings and weekends. Things have lightened up a bit for now, but there will be another crunch in December before the holidays.
Talk about timing! In one of my recent posts I talked about learning to appreciate my job. Well, I just found out from my manager that I am getting a promotion!!! I can’t believe it. I’ve never gotten a promotion before. After spending way too many years in school, I’ve only had two full time permanent jobs. (The rest were internships and other short term contractor roles.) As you know, I got fired from my first job. As a result, I’m always looking over my shoulder in my current job even when I may not need to. Needless to say, this was unexpected. Instead of DDSW, I’m going to be Senior DDSW!
During that initial conversation my manager didn’t mention anything about a pay raise. And I was so surprised about the promotion that I didn’t even think to ask about it. I’m hoping it’s because salary adjustments / end of year reviews have yet to take place. That’s usually when money is talked about. I will use this as an opportunity to broach the discussion about getting a salary increase. According to Glassdoor, for my role at my company, I’m at least $10k below what others are making. That was my fault for not negotiating like I should have when I got hired, even though I was unemployed and desperate at the time. Stay tuned.
Had a meeting with my manager and there WILL be a pay increase!! Strangely though, my manager doesn’t know how much the raise will be. Apparently, it’s all decided by senior management and HR. I’m not getting my hopes up because knowing my employer it will be a set percentage of my already below market salary.
Since I’ve been here I’ve gotten yearly “raises” – really just cost of living adjustments of between 2.0-2.5%. So for this ‘real’ raise, I’m guessing something between 4% to 5%. My day-to-day work won’t really change much, so I’m not expecting a big pay bump. Well, I’ll take what I can get. Of course I’m hoping for more, but I need to manage my expectations so that I’m not too disappointed. I won’t find out how much the raise will be for another few months, as pay is adjusted company-wide only once per year. If the pay increase is way low, it will be a good opening for me to talk to my manager about what I can do to get more of an increase the following year. It will be fun (or not!) to see where I fall on this scale – Deciphering What Your Annual Review Raise Means. 🙂
Anyway, it’s all good news, right? I’m already thinking about the best thing to do with the bit of extra money. Increase my E-fund savings, increase my HSA contribution, increase my Roth IRA contribution, put it toward student loan payments, something else? I’ll have it figured out by the time money hits my account.
It’s good to have a little bit of good fortune come my way!
“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW) [All posts on one page]