Originally Posted by younginvestor2013
I discovered that individuals at basically the highest promotable level (without being management or executive management, meaning there are multiple of them), make about 85% more in salary than I do. Granted, most of them have around 10-15 years experience.
Plus, I learned they make an additional 15-20% in bonus than I do.
I guess I'm just curious if each raise would be enough to get me to their pay level if I were to get to their level in today's dollars. Given that it would be 3 promotions "away", I would have to attain about a 28% pay raise on each promotion on salary alone.
Sometimes I think I am overthinking things and should just enjoy being in my mid 20s
But then I don't want to underestimate my worth and prolong my working career either
Personally, if you truly have the salary/bonus information of your co-workers, I would use this information to jump ship at some point and negotiate a bigger salary at your next job.
I left my last job largely in part because a document was accidentally leaked out to me and 1 or 2 others that had salary information for everyone in our department. Once I discovered I drastically underpaid compared to my peers and those who have less responsibility than me my time there was numbered. I was already pissed I got promoted into a role that tripled my responsibility and direct reports with no raise, and finding out the salary information I did was icing on the cake. They refused to give me a raise into the appropriate pay grade for my post-promotion job. So ultimately the information I had about my peers salary was pivotal for me increasing my total comp by nearly 30% at my next job, which just happened to be at another firm. There are some other factors that weren't part of the initial comp package I negotiated that will end up making the job change a 40% total comp increase.
I'd stick around for 5 years or so (total) where you are and see what happens. If you see the promotions and raises getting you to a point where you feel you are being fairly compensated, and you like your co-workers and the company I'd stick around. But if you find yourself getting resentful because you are underpaid to your peers I'd move to another firm with a good solid 5 years or so experience.
Money isn't everything and good co-workers and the work itself are incredibly important to job fulfillment, but I have found it incredibly difficult to maintain a positive attitude about a position and a company, no matter how much I liked the job or people when I have known the salary information of my peers and that I am being underpaid in comparison with no plans to correct that.