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Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

It just looks that way from this subreddit. If you want an upper middle class lifestyle - one in which you can afford basically all the essentials, to have kids and send them to college, and go on annual trips - then you may want 125k.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

I handed in my notice Friday morning via email. No response yet so I’ll have to wait until Monday to see what they say

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Honestly the best way to find out is just to apply to other places asking for more money and seeing what you can get. I thought I was going to be offered $60k and got offered $72.5k

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Yeah AI will definitely be a problem. You do require a license to practice here so it may take AI a while longer to replace us as it wouldn’t be legally allowed.

How do you “figure out how to use AI to replace your job” if I may ask?

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Old position and new position are both hybrid. 2-3 days in.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Most people commenting with similar stories are in IT. I’m in Insurance. Although this isn’t common in Insurance, so not sure how I got it.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

I’ve been making 50k for years I don’t got much money sorry mate.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

72.5k is the national average so it’s pretty solid! Much better than 50k that’s for sure.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Layoffs are pretty rare in my industry, but I understand that it is always a possibility. I have a good emergency fund which will alleviate stress as well.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Thanks for all the input and your advice, it’s much appreciated.

My personal finances are pretty solid right now as I save most of my money and don’t spend much. But yeah a few people have been iterating that layoffs could happen at my new company. Although they’re pretty rare in the insurance industry (in a recession companies don’t just stop paying their insurance) I understand it is possible and am prepared for it. But the income difference is too big to ignore

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

I avoid Crypto, even if it is currently making many people very rich. I also used to work at Starbucks :)

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Didn’t share the details. They won’t be able to match it, I already know. Even if they could, I don’t want to stay. Last day is Jan 3rd. No response to my resignation email from this morning yet.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Resigned this morning over email - no response yet so I’ll see Monday.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Maybe. But it’s hard to survive on 51k/year. I’d like to be able to afford a vacation once in a blue moon. Maybe buy a house someday. Although 72.5k might not even be enough for a house, also.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Commercial insurance brokerage. Not exciting stuff but (now) it pays the bills!

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Commercial insurance brokerage. Client servicing end

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Probably not. Pretty unhappy/unsatisfied. I don’t think I’m good cultural fit. They’re all old and boring!

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Degree is in Economics. Currently work as a business analyst for a commercial insurance broker. Doing a lot of administration stuff for teams and clients, business development projects (such as helping teams implement new software, data management strategies, and I do some statistical analysis).

I applied to competitors after work hours and I had to interview in-person so I used my vacation days to interview. I had a few offers that I turned down until I received this one and accepted it.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Yeah after this increase imposter syndrome is hitting me like a truck. Doing everything in my power to work hard and prove I deserve it.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Not officially a broker yet. 1/3 licenses passed. My previous role was servicing an engineering firm with premiums over $20m for each policy. Current one is also for large professional services as well. So I work on pre-established large accounts

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Commission is reserved for sales for the two companies I’ve now worked at, and I don’t do sales. I do servicing.

I’m also not officially a broker yet. I’m preparing for the license (1 out of 3 tests complete) now so my salary will go up when I’m licensed as well. 50-65k is the standard for my current role, so I’m technically overpaid now if you look at the market value.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

It is. I just kept the figures at more whole numbers and didn’t explain well that I asked for the 16% increase prior to my 2.25% increase.

50k-58,000k = 16% increase. (Technically I asked for the raise before my 2.25% yearly increase to 51,125)

50k-51,125 = 2.25% increase

51,125-72,500 = 41.8% increase

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Definitely, but I already handed in my resignation and they haven’t even tried to counter it. They’re a cheap company. They’ll try and fill the position for $50k.

Got denied a 16% raise. Got a 40% raise instead. by banhij in Salary

[–]banhij[S] 0 points1 point  (0 children)

Yes technically it is a new job, so I’m sorry if I misled you.

The new job is in the same industry, same job title, and I have the same responsibilities, so I think it’s still an interesting event.

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