This coming week will see two milestones for me. The first is my five year anniversary as an FTE with my current company. I’ve been working for them for 5.5 years, but that first half year was officially as a temp, because that is how they roll. 🙂 In honor of this, I will get a stock in the company. Yes, one whole stock on pretty paper. I don’t know if it will come framed or not, since I have seen the stock others in the office are in different frames .
I do participate in the stock option plan anyways, so one stock on paper doesn’t mean much to me when I already have a bunch of them. 😛 I suppose it should since the current trend is around $80. That is one expensive piece of paper (right now.)
The second milestone is my second promotion since being with the company. Effective on Monday, March 3rd, I will officially be a Senior Human Resources Consultant. It is nice to have achieved a level of excellence, KSAs, political savvy, etc and to be recognized as a leader within my product/division. Also, two promotions in five years isn’t too shabby. 😉 (Since my company is so large it is not uncommon for people to be in a role for 5-10 years before they are promoted.)
There was a small raise with the promotion, in line with the policies and procedures of my company. I tried to negotiate – stating my record of excellence, compa-ratio, range penetration, and market data as compared to the apparent company compensation policy related to the market. It didn’t work, there was no negotiating. In theory it has been rumored (shared from a few managers) that when one is promoted (and/or offered a new role) we can negotiate up to a 20% increase. I think this is more a reality when moving roles altogether rather than promotion into a higher level of the same role.
For the record, it was a 4% raise. I went up one pay grade. While the company leads the market for new hires, it lags for those of us who stick (or are stuck) around. I now have an 8% range penetration with a 78% compa-ratio. The company appears to feel one has “maxed out” at 90% compa-ratio. According to salary.com the local market rate for an HRIS III or HR Generalist III (the benchmarks closest to my experience and job duties) are $66k, the midpoint of the range for my grade is $68k; I am now making about $53k.
Based upon my knowledge of compensation theory (which, let’s face it, theory never matches reality – especially in the new economic reality) under 90% compa-ratio is for new hires or those who perform poorly. Yes, this causes conflicted feelings for me with regards to the whole deal. 🙁
Regardless, I am taking the lesson I learned last month from that interview and taking the positives from the situations and leaving the rest behind. 🙂 Besides, showing I am promoted ‘regularly’ and ‘quickly’ as well as the senior title looks good in the grand scheme of things. 🙂