Veteran employee of 3 years finds out they're paid 25% less than the new hire, internet discusses the importance of salary transparency and company-hopping: ‘Knowledge is power’

Advertisement
  • "Just found out that my job's been massively underpaying me compared to my colleagues."
  • "Just found out that my job's been massively underpaying me compared to my colleagues"

    My day just went downhill. I'm a loan advisor at a mid sized mortgage company where I've been grinding for almost 3 years.
  • There are 5 of us with the exact same job title/responsibilities, but I just found out I'm making literally 25% less than the newest guy.
  • Here's what happened: This new dude called John joined our team like 3 months ago. Very chill guy, probably too chill cuz we were
  • just talking about salaries in general and he told me his so casually. That's when I found out I was being underpaid.
  • The main reason I'm ped is that I literally process double the applications compared to the other guys and I'm getting paid less which is crazy. I'm not in a
  • bad financial position at all cuz my 401's good, been lucky with some crypto investments and so p ed at on, but I'm them for paying me less when I'm doing all the work.
  • Cheezburger Image 10502619904
  • What should I do? Should I just confront the boss? Should I just leave this job? Thanks.
  • btw I posted this on r/personalfinance but somehow the post got deleted cuz it doesn't match the subreddit so I'm posting it here
  • papachon This is exactly why they don't want people talking about salaries. Knowledge is power
  • copper678 Agreed, be thankful John told you. He's a real one!
  • MysteriousConflict38 This is incredibly common and why there is data that shows people who change years every 3-4 years will often make 25-50% more than their colleges who stay.
  • For whatever backwards reason, most companies seem to think winning new talent is better than retaining old talent and it's really really common for new people to start at or above what seasoned employees make.
  • There's a bunch of ways to go about this from telling your boss you feel you are being underpaid to just finding a better paying opportunity.
  • AssistantNo5668 I am experiencing this right now. I am a highly proficient tractor tech and been with this dealer for 5 years. New guy been here 2 years and he is nowhere near my level but they are paying him the same. Thats why im interviewing with a competitor this weekend
  • tremegorn Jobs are a business relationship first and foremost and if you're no longer getting a good deal, you either re-negotiate or take your services elsewhere. Generally you're better off finding a new job if your pay really is 25% lower than everyone else there.
  • zebra0817 I had a boss tell me I was underpaid, I was blindsided and asked him what I needed to do to get a salary increase. He never gave me a solid answer and I never got paid more. It was sh for my morale and I ended up finding another job.
  • QuadG23 Lmao what? Boss straight up said "you're not getting paid enough" and continued to not pay you enough? Sorry I can't help but laugh because there is actually people like that out here.
  • LevelOneForever John is a legend for sharing that information. We still live in a time where people think sharing salary information is bad... it's only bad for the employer. Speak up and get some pay transparency conversations going to help your other colleagues who are being underpaid. Remember: do not have crab bucket mentality. This is not to drag anyone down. This is to boost others up.

Tags

Scroll Down For The Next Article