I have been working in a back office role for nearly a year. During this time I have never been late to work, never been at fault for a trade error, never screwed up, etc. I do everything that is asked of me. I have created 2 macros that automate some of our daily tasks. Beginning January I will also be taking on revenue forecasting since that will no longer be outsourced. One area I fell short in is a Microsoft Access database. I was told I should make a primary operating database we use more effective. I did not complete this. However, my manager takes a lot of the blame too since he has been unable to show me the specifics of it. He was promoted to COO and has been very busy with additional duties ever since. With all that said, I am looking to ask for a raise. My salary is very low (low 30s) and I am wondering an appropriate amount to request without looking greedy or ignorant. Annual reviews are not traditional here. I plan on requesting one anyway in preparation for revenue forecasting, assisting with investment analysis, and the request for a raise. Can those of you involved in back office offer up some insight?
Can someone throw me a bone here?
please post your location, company size etc. so people can get a better idea of your situation.
if it’s low 30’s, ask for 40
I work in a Minneapolis RIA; AUM is $1B, 12 employees.
Where abouts are you located ? Lows 30s Base before tax ? Is there an incentive bonus tied in ? Also depends on your background: do you have a Bachelors’ degree ? If so, I would ask for at least 10-15K more base. Edit: crossed posts with KJH.
BS Finance, Series 7 (if that matters), Level 1 Candidate. No incentive.
“My salary is very low (low 30s) and I am wondering an appropriate amount to request without looking greedy or ignorant.” Ask for 65K and even if you get it…quit. That salary is ridiculous.
I’ll never get tired of your banter Turkish!
So you’re saying my advice wasn’t helpful? Come on, seems like you do a ton of work there…
low 30s is tragic. look for a new job. chances are they wont give u a raise when they can hire someone else.
ask for 10k or maybe slightly more. given the nature of the services you as an employee provide 10k would likely be pushing it (but doesn’t hurt to ask)…10/35 = 28% which isn’t bad. If you ask for something higher than 50k it’s unlikely they’ll even consider it despite your best argument. Ask for 10k, hope you get 5k.
What gets under my skin is the dude pushing the broom around the building probably makes more than me!
probably - but the dude pushing the broom has no exit options; you may be making $30k now. If you can learn a lot and take transferable skills away hopefully in your next job/role you can get a salary bump that would make the broom pushers jealous.
If you can write in VBA, you should make at least 45k. Pretty cut and dry IMO…
there’s people I know who add half the value you described and get paid much more. I’d push your resume out and see what else you can get. Just remember, you have these huge claws and you don’t realize that you’re $$.
Thanks guys. I’ll let you know what happens. I have been looking unofficially for a new job. My initial thought was to wait until I pass Level 1 being that could open additional opportunities.
Your best leverage is another offer on the table. Shop your resume around. The salary the other firm is offering is the amount you should command.
i used to make mid-forties for back office position similar to yours when i started at a boutique firm in atlanta, ga.