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This is an alt. I'm young and inexperienced in office politics, and would appreciate advice.
I've been working at my company for 18 months as an analyst. My starting salary was $X. After a positive performance review six months ago I was given a 12% bonus and a 3% cost-of-living pay increase.
At times my bosses have told me I'm well regarded, a "rising star" at the company and a "senior analyst." I've always performed well, come in early and stayed late. I've learned new skillsets and increased my responsibilities, especially in the last six months since my performance review. I think I'm worth a raise.
In addition, my company has had difficulties hiring and retaining talent. We're a small company (~20 people). Since my performance review six months ago we've fired three people and three highly valued team members have left of their own choosing. Our prospective hires haven't looked promising. Our most recent new analyst was given a starting salary of $1.13X (10% more than I currently earn). She's older and has an MA, but I honestly believe I'm worth more to the company than her.
I'm going to ask for a 15% raise. I think I have a strong case, but I have questions:
I technically shouldn't know what this new hire is earning, but we're a small company and I overheard the offer. I know I'm supposed to argue my case, and not why I'm worth more than someone else, so I'm leaning towards not bringing up the new hire altogether. Sound right? However, I am honestly annoyed the new hire is earning more than me.
I've read I shouldn't focus too much on the company's circumstances (i.e., the problems retaining talent) and instead stick to arguing my own worth. Is that unreasonable? The circumstances do matter. Should I leave it to my boss to understand how much they need me, or do I state it outright?
I don't want to leave my job. I'm happy here. But what do I do if my boss says no, or offers something I don't find acceptable? Do I just give the honest answer, which is (again) that I'm happy here but feel strongly about what I'm worth and don't know what I'll do if I'm not given my due? Or do I play hardball and say I'm prepared to find another job, even if I'm not really?
In the past my boss has mentioned they like to handle pay changes and promotions at the end of our fiscal year in June. I'm concerned he's going to say we'll discuss it at my next performance review when these pay issues are settled, and offer as a compromise a larger holiday bonus. Is it unreasonable of me to call bullshit on this (politely)? The current circumstances are entirely different than at my last performance review. Why should I wait another six months to get what I'm worth, just because paperwork is inconvenient?
Should I suggest or accept if offered some meaningless title change (like officially being a senior analyst), which I could at least use on my resume in the future? Or does that sound silly?
How do you actually set these things up? I'm leaning towards sending a meeting invite to my boss asking to discuss my role and responsibilities in the company. Too subtle?
I don't have family or friends with experience with these sorts of thing and there's no HR department to talk with, so any tips would be great.
EDIT: Sorry to bump an old thread, but I wanted to give a quick update. I did what (I think) was the consensus in this thread, which was to bide my time and work for the promotion rather than forcing an issue out of a raise. I've been talking with my bosses over the last month, and I'm told there's no reason I shouldn't get the promotion after performance reviews this July and that everyone thinks I've been very professional in how I've taken on all this work without complaining.
So, thank you. If I'd acted without your advice I'm pretty sure I'd have come off as entitled and ungrateful. It's clear to me now that would have done more harm than good (or at least, less good than came from doing nothing).