I am aware that this is not a career advice board, but I am applying for other jobs currently, primarily because the salary is well-below the market rate and it is making me a bit disgruntled. I am based in London, and given my current salary which is just over 20k per annum, I am concerned that I am going to struggle get onto the property ladder. I am in my early 30s.
I am however a bit conflicted about this decision, for the past couple of years I have been a product manager working in a tech start up, in that time I have from ground up strategically delivered a newer more powerful version of the product which was used by small brands, but is now starting to be used by well known corporate brands or is attracting the attention from them. To give an example, we have attracted interest from Nike. The product has also been industry award nominated since joining.
Outside of pay, despite my annoyances at times with the people within the company, I really do like my team, and my boss. My boss can be stubborn at times, but generally open to new ideas and encourages ownership of project management related tasks. He took a risk on hiring me (no prior PM experience), listening to my ideas and it seems to have paid off for him. In that sense I do feel as though I am a valued member of the team.
What I am concerned about from moving:
- Moving for more pay, but being another number in a faceless organisation and less valued from losing seniority. Right now I am effectively second in command.
Then on the flip side my concern is:
Staying here, not getting a pay rise quick enough which I suspect will be the case since the money will first be invested in expanding the team before pay rises are given.
Unforeseen circumstances meaning that the product flops. I am thinking that now is the best time to move from my market value being high from demonstrating that it is successful right now.
I guess the ultimate question here, does loyalty pay?