What % pay rise to make you leave current "comfy" job?

DB_SamX

DB_SamX

DB_SamX

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I am a structural engineer at a small firm and work 4 days on around £58.5k FTE (so ~£48k pro rata). People and projects are fine, few grumbles but no major complaints other than I'm paid below market rate and have been for 2-3 years now. Twice last year I asked for a pay rise, even just 5%, to at least get into the band for my experience but I got no response from the bosses either time, other than £800 on December. No bonuses for many years either. What I really like about the job is hybrid working and the flexibility of my hours. I am trusted and i never slack off - always do my hours, or more, and deliver.

I've been told many times by recruiters and peers in other companies that i am being undervalued and would easily get £65k elsewhere. That never felt enough to leave this "comfort zone" given the associated risk of jumping ship, sideways.

But last week, i got approached for a role that could pay up to £75k FTE + up to £10k bonus which would come with a promotion if the company consider me right for it. Not too fussed about the promotion but the idea of at least £70k + any bonus even if not promoted is tempting. No change in commute. I've got a friend and two former colleagues there already so will chat to them this week. I'm awaiting to hear about an interview.

My only requirements are 4 day week and hybrid/flexible working, so if they can offer that, I'll be really tempted.

I can't decide if this 15-25% increase is worth leaving a position I'm relatively happy in, or whether I should get out of my comfort zone and take the plunge. The new company is larger, more prestigious and more advanced than my current one, so they are attractive.
 
If the "perks" are similar I'd probably accept 15%.

If they weren't similar, i.e. no WFH and other perks, then I'd probably need 25-30%.
 
Inflation is only going up, so every year your lack of pay rise is realistically a pay cut. If you have been ignored asking for it, then get out.
 
Have to say job security and known factor when it comes to how I get on with those I work with trumps pay for me. That said my pay rises over the last few years vs inflation/cost of living has slowly slid to the point this year it is pretty much treading water so if I don't get any pay increase next year then I'll effectively be taking a pay decrease and that might force my hand sooner or later.
 
I've left jobs for:

a cut in pay,
a similar package and
Around 10-15% uplift.

It just depends on what's appealing about the role you're going to and if it is going to help you progress in the long term.

Some of the salary reductions had other perks associated with it such as healthcare, really top notch pensions and other perks. Some of the static salary moves were just to explore new career opportunities or scratch an itch.

It must be said that a lot of that was before I had kids. Although I've changed roles twice since starting a family one with a paycut but better perks.

It's all a balance of what you can/cannot afford to do and what the non work perks and/or benefits are that appeal to you.

From what you've said it seems like a no brainer to me.
 
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Sounds like a no-brainer to me. Whilst you do sound comfy in your current role and the new one may be much more intense, it sounds like you're very taken for granted and underappreciated too perhaps.

If your requests for a salary review were barely acknowledged as you say then that should be more than enough to get you out. I worked for a place that treated the entire team with contempt in that regard really, there were people hugely deserving of raises and promotions that were fobbed off or flat out rejected.

We all left within the space of 9 months, taking all the niche knowledge of that company's infrastructure with us and now they're just feeling sorry for themselves rather than wondering what they did wrong.
 
Job security is important, been comfortable in your job is important, for me probably 30% minimal.

On the flip side if I had problems with my current role I might move for a pay cut, if I felt the other metrics were better.
 
chrcoluk said:
Job security is important, been comfortable in your job is important, for me probably 30% minimal.

On the flip side if I had problems with my current role I might move for a pay cut, if I felt the other metrics were better.
Click to expand...

Job security is a nice feeling but at the same time progression and career development is also important. I'd not want to be in the same place doing the same thing day after day (unless you love it of course). However everyone has different goals and priorities. :)
 
I predict this will happen:
  • You'll ace the interview and get offered the job
  • You will tell your current employer you're off for reasons mentioned above (pay)
  • They'll counter-offer and you'll have doubts
  • You'll leave and they'll regret not paying you a few quid to keep you around
  • They'll hire someone new on +£5000 more than your old salary and consider that a win
For me... anything >£10k above my base rate would have me interested and if there's a good benefit package that goes along with the bump then I'd be sorely tempted, providing the employer is right. I'd never accept more money at a smaller organisation though, as you're effectively painting yourself in to a corner. That said, I don't go actively looking for jobs until I'm ready to leave so I've no idea what my actual worth is at the moment :p
 
Potentially leaving for approx 20% on the base which in itself probably wouldn't be enough of a reason to move, but factor in pre IPO stock plus as it's a sales related role a potentially better sales pipeline which means chance of better commission...

But still no idea on whether to go or not, as expected current place matched the base pay rise instantly, but issues on the sales side mean that commission has dried up this year (after an exceptional few years this is painful!).
 
20% for same working conditions and commut.

10% for better working conditions and/or significantly reduced commute.

Remember that anything your current employer offers you to stay is the last pay rise that you’ll ever get from them.
 
Honestly, none. I am not motivated financially and I value the flexible working and balance more than anything else. If I got to keep those AND a rise that would be different. There is nothing I want to do which I can't because of financial constraints.

Edit: Except go into space but that's not realistic.
 
I think 20%+ is a good rule of thumb to push for also, at most companies, subsequent pay rises will simply be a token increase maybe slightly above inflation relative to whatever you negotiated when you started except for substantial promotions or sometimes needing to change your pay band/mark you to market differently for pay equity reasons etc.

I think, early on at least, if you're not promoted after circa 3 years then you should move, if you've not had 3 substantial rises from either moving or being promoted during your first 10 years-ish in a given career then you're probably underpaid relative to what you might otherwise get if you leave your current employer.

Obviously, once you reach a certain level then opportunities for substantial promotions might be less common, it might well be advantageous at that point to build a rep within a company and stick around for a bit longer, though external opportunities for more pay can still be there, so long as they're offering at least 20%+.
 
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