Advice with pay rise letter

[DB_SamX]

I posted last year about looking for another job, but I stayed at my current one after all after a small bonus (£1k) and pay rise (£2k). https://forums.overclockers.co.uk/t...to-make-you-leave-current-comfy-job.18951284/

I am started to look again due to cost of living increases, especially my mortgage, which might go up at least £300/month from Feb next year, despite still being otehrwise happy with my role. Since February, a Director has retired, so I have taken on more important responsibilies, but they are not looking to replace his role due to company budget (which I hoped for).

I am still underpaid - £62k FTE (+9% pension), but market rate for my job role based on ads out there is easily £65-70k (+say 5% pension). I recently went for an interview after being approached in July by a recruiter, and have been offerred a promotion to Assiciate Director, and a pay of £75k (potentially £80k with negotiation). However, I won't accept it as it's central London-based (but hybrid), and travel costs will be £9k+ and involve 3h travel per day, so the pay rise wouldn't cover it (especially once you factor 40% tax cut on increase) and loss of personal time. I am on the lookout for jobs which are closer (30ish mins each way).

I don't want to threaten my current company that I will leave for this offer, and they will be smart enough to work out the travel implications, but I do want to use the offer to demonstrate my market value.

I will write a letter this weekend asking for a pay rise, outlining all my new responsibilities, achievements, etc, and that's fine, but I am really struggling to find the words/approach for demonstrating my value using the offer. I don't want it to be a theat, but I don't want to come across as too soft either. Any tips or advice on wording? Not found much online. Everything I've read (maybe biased due to being american articles) suggests the minute I use an offer as argument, they'll see me as wanting out. I doubt that will be the case for me, but it does worry me a bit.

 

[DB_SamX]

Thank you for all the opinions, been thinking about it a lot overnight. I've decided to bring it up as a chat/meeting tomorrow but writing down my thoughts beforehand.

For context, we are a SME, not a big corporation, and I am only in an office of around 20 technical staff, and 4th highest role. So I already have a close relationship with the two board directors, and they know what I do, but maybe need reminding - I manage and run building projects and teams, and whilst we do monitor profit, we don't have sales or defined profit targets on a project by project basis; beyond engineering, I do loads of business management too - training, mentoring, mental health, improving processes/quality, workload, resourcing, generating new work, carbon reduction plans, recruitment, etc. Most of these I volunteered for, or naturally took over from the director who retired. I have a lot of autonomy and flexibility, which I don't take for granted.

Right now I don't see myself moving to London, and would prefer not to given the choice, but I am happy to move back to Surrey/Berkshire as I'll also be closer to my folks. I did a 2 year stint in London in my early 30s and left as that rat race didn't suit me. So as @Nitefly said, I may have to make my peace with the like-for-like salary comparison, and reframe the conversation as suggested. I could see myself saying my target is 10% increase by end of the year, and 15% by end of financial year, so how can I get there. And agree that if it's not in the company's budget, at least I'll know where I stand and plan accordingly for next year.

 

[DB_SamX]

What was the outcome of the discussion?

Not yet. Had a senior colleague go on sick leave last Thursday. Was expecting him back Monday but he's signed off all week. So we're all chipping in to pick up his workload.

I could capitalise on the situation but it feels wrong to me. I'll have the chat in coming days or weeks when the opportunity presents it.

 

[DB_SamX]

I’ve got a career coach based in the Winchester area.

Not only is he a fantastic coach, he’s also one of the loveliest human beings on this planet.


This is exactly the kind of thing he’d be able to help out with.



Let me know if you would like an introduction - completely obligation free


Edit: for clarity - I don’t get anything out of it. I just think he’s an awesome person and seems like he’d be a perfect source of guidance in this instance.

Yes please. I was thinking about getting a mentor/coach from the industry but I'd welcome an introduction with yours.

How has he helped you?

 

[DB_SamX]

I thought I would get an update on this.

I didn't set up a 1-to-1 chat with the one of the board directors, as we had PDAs due in September, followed by pay rises due in October. So I thought I would just want for the PDA.

Unfortunately, this got delayed to October, then November, so obviously I got frustrated. During that time, I became aware of a Technical Director role at a local competitor. When enquiring about it (no salary range posted), even without a CV or anything, they invited me for an interview (they must have looked me up on LinkedIn). I went for two interviews over a month, and they were keen, although they still dodged the salary question when I asked.

When the PDA finally took place, I set out my position, and basically told them that unless they could offer me better, I would continue to the final interview. Thankfully they took is seriously, and within a week, my company verbally told me I'd be promoted next financial year + pay rise. I told myself I would wait for something in writing before stopping the interview process. Finally just before Christmas, I was given a letter confirming the promotion to a (non board/exec) director + 10% pay rise (half of which is due to promotion), effective from January. As that was my target, I cancelled the 3rd interview due today. So for now, I am happy with what is on the table, and stop thinking about moving in the short to medium term.

 

[DB_SamX]

Some people live beyond their means...its a sad fact in this day and age.

What's the relevance?

 

[DB_SamX]

Fair enough you are happy in the short to medium term, but surely the right move was to go to the 3rd interview as you had already done 2 and find out what the full salary/offer is.

A few things really - I was/am happy in my current company other than salary/progression which is now fulfilled, work/projects I do, it's 10mins from home, I have a lot of flexibility and autonomy, good pension, lots of annual leave earnt for long service, I am working on improving the business, and in general better the devil you know. The new place would have been a 30-40 minute commute each way, with having to start from scratch, opening myself up to new probation period, likely full time in the office, and generally only a sideways step in terms of challenge, etc. I also expected them to find out about the promotion through mutual work acquaintances quickly.

I had told myself that if they still wanted to interview me after me telling them, I would have gone for it, but I wouldn't have gone there hiding the promotion. Maybe they would have offered more, but even so, it would have taken at least another 10% on top for me to be remotely interested.

Finally, I don't believe I have burnt bridges with the other company; it remains an option in future.

 

[DB_SamX]

I appreciate the honest opinions, it is food for thought.

I am honestly happy with the 10pc for now. All the other benefits, contractual and otherwise, make it worth staying put for the time being. If i regret it in 6 months, I'll come back to update thjs thread!