yikes greenie - yeah get out - good luck
Sucks man. I think looking for a new employer is your best bet. You can also try to bring it up in a performance review. I’d phrase it as “when I came on board, we said this job would be like X and deliver Y after a certain amount of time. We’re not there. What do you see as required to make that happen.”
The other thing is to try to build your own relationships and book of clients that can walk away with you if you threaten to walk. I don’t know if that’s a realistic thing for you, but it’s worth considering.
Turd is right. Small or startup firms always use the same line “We can’t afford to pay you what we know you’re worth today, but you’ll be rolling in dough when we hit it big.” Then the promises never emerge, or worse, you get cut lose in growing pains during a “reorganization for the next stage,” and none of those promises ever materialize. Result, they got your work for cheap and never had to make good on the part about you doing well when the firm takes off. Plus lots of firms simply fail after a few years, too.
I used to think it was bad luck to fall for these, but it’s clearly a deliberate strategy on the part of the management to promise the moon and underdeliver or conveniently forget. On the other hand, if you demand what you are worth,
They can only do that if they don’t have competitors who value you, though. So try to find out who those competitors are.
So sorry Greenie. I personally know a number of seven figure earners that are constantly asked how they got to where they are. Number 1 answer: Always be willing to relocate. Someone in a bigger city has a $125k+ job waiting for you given your resume. Go get it. Anybody worth your time will pay for your move and sign a contract. One or two year guarantee. Go back home after you accumulate a little nest egg and some attitude.
Maybe taking a step backwards here, but have you actually asked for any of the things in that list? Have you asked to meet a client in person, for instance? If the bosses just keep screwing you, either you’re luck is really bad or you might not be approaching this in the best possible way.
Also, I am perplexed by this statement:
- I was told that we would get an extra paycheck for a Christmas bonus. I got about 10% of that.
Assuming you get paid every 2 weeks, $66k/26 = $2538. So you got a $250 bonus?
^Exactly.
@Bchad - don’t mistake a “small firm” for a startup. Lots of mom & pop CPA shops that are small, but have been around for a long time. This guy has a very successful CPA practice. Grosses over $1m, which is great for the size firm that it is. (The old firm grossed less than half that.) He’s not in any danger of going out of business.
Yes, I agree that startups tend to be small firms but not all small firms are startups. My experience with small firms is mostly with startups and so my advice is colored a bit by that.
Given what you say, it would seem to be worth having a discussion saying what your understanding of promises were made at hiring and to ask what they think needs to happen before they can make good on them. If they say they don’t remember making those promises, you should get do a new job search and put it in high gear.
Well that list in your original post is a long list of promises that have either been broken, or not delivered.
I thought one of main benefits of moving to this new firm was that you could focus on investment management? It appears that you are doing the same work you were doing at the old firm?
What about the $2.6MM client just signed?
^No, at the old firm, I was doing tax work, which is higher-level than bookkeeping.
Here, I’m doing a job that we should pay a hot temp $12/hour to do.
Literally–I spent three days last week opening mail, sorting the statements, and scanning them in. A MBA/CPA/CFA scanning & sorting documents, while I have estate tax returns (which pay handsomely) and amended returns (which would also pay handsomely). Imagine if we could use some of this energy to try to gather client assets.
We got a $2.5m account from somebody the other day, which will generate $4k in revenue per quarter to us. (Not gross–the $4k per quarter is our portion.) But instead of working our existing clients, I’m doing bookkeeping, reconciling bank statements, and scanning Morgan Stanley statements.
wth…so you are just doing back-mid office operations work? I’d get out as soon as possible.
I think you can do much better! Sounds like it’s time to get out and move on to something better asap! Based on my experience there is almost no way to get a pay raise by nagging for one… because once you tell someone to do something, they automatically don’t want to do it! it’s just human nature.
Nagging for delivery of the promises which the employer has already reneged on is a weak move, politely asking is just as weak. Its not personal its business. You need to demand what you know you deserve and be ready to walk. Definitely be prepared to walk.
^ ya that’s great except he has a wife and kids at home, so I’m not sure walking out with no replacement job lined up makes sense.
^ i’m not saying he has to do it today but have plan B in place before hitting the negotiation table. Plan B should be on the top of the priority list.
ok now this makes me think they are testing you. They would never pay $60k for someone to do “Charlie” work without an ulterior motive. 6 months might be a little too soon to throw in the towel. Hopefully you’ve projected a positive attitude during his time. I’d think about ways you can tactfully offer up your abilities as the opportunities arise. If they keep stonewalling then maybe get more forceful.
In any case, this type of bullshit of making employees dance like a monkey for their own amusement is why I couldn’t stomach another year being someone’s employee. It’s just not worth the aggravation.
^Trust me–if I thought I had enough clientele, I would strike it out on my own. I know enough about my trade that I can do it on my own. Unfortunately, I think I would starve to death if I did it right now.
And here I thought you were making it rain at your new job.
If any item in your list is what actually happened (and you are not exaggerating) , it’s an act of war by your employer. You should proceed accordingly. I don’t even think a 2 week notice is warranted when you do leave. And don’t forget to describe your experience on glassdoor so no other schmuck gets into the same situation. He clearly has no respect for you and even worse doesn’t think you have the balls to do anything about it.
A wiseman once told me you have 3 things in life: your balls and your word. If someone blatantly lies to you, you tell that person you won’t put up with that **** and remind him what the original deal was. If he does it again, you stick to your word.
If you have any pride left…well you know the rest.
+1. Sticking with my Godfather theme, It’s time to go to the mattresses.
You guys are going overboard with the machismo in here. Greenman, just put your head down, work hard and apply for other jobs.
Sometimes the light at the end of the tunnel is a train.
I think the main problems with Greenie (someone as decorated with degrees but not compensated for them) is that he refuses to relocate and work somewhere where short sleeve button down shirts are not tolerated. It will be very difficult to get fair market value for your labor under those conditions. It’s like a free agent in the NFL that only wants to sign with a team in the NFC East and for a team that doesn’t force you to wear suits on gamedays. He is painting himself in a corner. He’s paying a big price for keeping his comfortable lifestyle. The time will come (and trust me it will) when he will be ready to make sacrifices to make more $$$ but it might be too late by that time.