I believe myself to be underpaid and have started looking for a new job. I don't have an offer yet. Should I tell my boss as a way to gain leverage in salary negotiations?
I know this question has been asked before in various shapes and forms, but I could not find an answer which I was able to apply to my situation.
I have a job, I like it a lot, I just don't like my salary. I do not have a problem of finding a new job, it's very easy. I'm just trying how to handle this situation without being a dick to anyone.
- I've been at my current job for 2 years
- According to every salary statistic I've been able to find my salary is in the lower 25%
- I really like my job
- I've told the bullets above to my boss very clearly every time we discuss salary. I say something along the lines of: "I truly enjoy working for this company, but please understand that being in the lower 25% of the salary spectrum is not sustainable for me."
- I like my boss and I like my co-workers
However, I just had my second salary negotiation and while I did get a decent raise, it's no where close to being enough. Therefore, I am now actively searching for a new job. Should I tell my boss?
Maybe I just have a big ego :) , but I really believe they want to keep me on the team and I would like to stay here if I could just get the salary I can get elsewhere.
Pros Telling him in advance gives him a chance to do something about it.
Cons I am not afraid of getting fired, but I guess it would be a bit socially awkward.
Both the statistics and the job offers I had in the last 6-12 months tell me that I should earn around 20%-30% more. 40% if I'm really lucky.
The main reason I do not get a better salary at my current job is that I started out too low. At least in my country, it is very common only to get a big increase in salary when you switch jobs. The main reason for this is that each department gets a fixed increase (in percent) which my boss then divides among the employees. So it is difficult for him to give me a significant increase without punishing my co-workers. On the other hand, I don't see any gain for the company if I leave and they need to spend a significant amount of time and money on finding and training a replacement (which takes almost a year). I would therefore assume the rational thing would be just to make an exception and pay me some more and keep my experience, but who knows.
In any case - should I tell him?