Should I ask for a raise? If so how much? (jobs, companies)

[johnnytightlips]

I am totally lost right now. I have been kind of a corporate drone for my entire life. I have worked for the same company for 38 years and I am at a Director-level position right now. I make about 110,000 a year, which for the area I live in (NYC suburbs, Suffolk County) isn't much. I am told by my wife and many of my friends that I should ask for a raise. I am not the type of guy that does crazy innovative stuff. I just do the job I am assigned and do it well. I come in at 6 am and stay till 6 everyday, I am a hard worker and all. But I am afraid to ask for a raise. I have friends in other companies who make twice my salary and have been around for half the time or even less. Am I right to ask for a raise? How should I approach it? What is my best option to ask? I would have to go straight to the President of the company probably, who I get along with well, and I am on a first-name basis with, but still it is nerve-racking. How much should I ask for a raise of?

Other info is that the company employs about 6500 people.

Thank you so much for your advise.

[manderly6]

You really need to look outside your current company and try and figure out how much you are actually worth. Maybe get in touch with a headhunter and try and figure it out.

[Hemlock140]

When a manager has been at a place that long and times are bad thee is little incentive for keeping
someone if they can get a replacement for less money, so be careful not to be threatening (to quit). Have good data to show that others in your position are making more elsewhere but make it clear that you are happy there and want to stay but just want to be fairly compensated. . How long since you have had a raise? Are your subordinates getting raises? There's also the matter of compression, if they get cost of living raises annually and you don't. I was just looking at a director position nearby at a company similar to mine and they are paying up to $145,000, in Tacoma WA.

[sware2cod]

First off, you need to find out the general pay range for your position. A company of your size should have this published. You should have a rank or level assigned to your director position. There should be a chart somewhere that shows low mid and high range for the level.

then you figure where your salary falls in that range.

Most companies give individual annual pay increases based on combination of performance plus where you fall on this range. If you fall in lower end of range then you get higher annual raise versus if you are currently near the top, even for same performance.

Bottom line, as your mananger in this non threatening way "how can I get a pay increase"? The mgr might discuss ways for you to try to get promoted or ways for you to get an increase in your current position. Which do you want? Usually a promo gets you a lump increase immediately. You might need to do some presentations or other visible stuff to get a decent raise if no promo. These days it can get political...lead a committee and do some other stuff that everyone sees. yuck.

most times, changing jobs gets you the biggest raise...meaning new company. sounds like this is not something for you if you have 38 years in same place. I am afraid that would be horrible culture shock for you.