Am I getting paid enough?

Jamesg2011

Hi I am looking for some advice.

!I started this 6 months for a corporate finance firm in London as publications manager and was wondering if my pay grade was at the right level.

I am currently paid 29k a year. Average working hours !are usually 8.30-18.30/19.00.!

My duties are varied and include research and writing reports that are published globally, the word count !will amount to 100k words ( not including the quant data) by the end of the year.!

Also I manage all research released by the firm. Moreover, I am in the charge of many of the marketing aspects of the organisation.

International travel is also a requirement, sometimes on weekends. These include long haul trips to North America and Asia.

Considering I have friends who work 8 hour days doing much less stressful tasks and getting paid significantly more than me I am starting to think that I have should be having a word with my boss..

Any thoughts would be much appreciated.

Jamesg2011

Any help here would be really helpful.

Cheers.

michelle2008

Is this your first job? Have you looked around for similar jobs elsewhere? Going to a few interviews will give you an idea of your market value.

While you will get a lot of opinions here the only person who can really answer this question is you.

Be sure to take account of the whole package - pension, holidays, progression opportunities - when making comparisons

Jamesg2011

It is my first full time paid job (had internships previously and part-time jobs).

I guess I am also looking for an objective viewpoint. The amount of work done versus what my rate should be.

I am pretty sure the support staff get paid more than me doing less taxing work.

ska_lover

Maybe as it is your first job in the field James, you will have to bite the bullet on this one, and use it as a means to an end. However it does seem you have a good case to ask for a pay review on your next personal development review, If you can wait that long. No one is going to disrespect you if you speak to your manager and put your case forward as to why you feel you should be earning more. It can't hurt - they can only say no. If they do, then you could always look elsewhere

gastronomix

If this is your first job and you are being paid that much consider yourself lucky. The hours are relatively long but not abnormal, many people work considerably longer hours for much less. Maybe in a few years when you have proved yourself you will worth more to an employer, until then I would suggest keeping your head down and be glad that as a new graduate you are already earning significantly more than the national average in what sounds like an interesting role. If you happen to hear of any vacancies feel free to PM me....

mrsyardbroom

I found myself in a position where I was at the bottom of the pay scale but the nature of the work meant that my responsibilities gradually increased until I was doing some of the general manager's work. Also, the work was very technical and they had no-one else who could do it at the time and they weren't willing to take anyone else on. When I questioned the pay they conducted an inquiry into my duties and gave the job to someone on a higher pay scale! To rub my nose in it further they asked me to train the person who took over and he kept coming back to me for advice as he didn't understand the job. He left after a short time as there was too much responsibility.
I was left doing a boring job that I didn't enjoy. If you do question the pay please be careful that this kind of thing doesn't happen to you. Have a look around and see if there are any other better paid opportunities. If you've worked well for the firm they should give you a good reference if you want to move jobs. They might even offer you a good pay rise.

InsideInsurance

Look on job sites for roles that you could apply for considering your level of experience and see what the salaries on offer are.

A £30k basic salary inc london weighting I would argue is fairly reasonable for an entry level graduate type job. You just need to check that is what your role is.

As to working 9-10 hours a day, unfortunately thats life, I'd love to be back to only working those sorts of hours but my income does reflect the level of responsibility, stress, expertise and hours it requires so cannot really complain.

climbgirl

I work in Corporate Finance and I'm afraid those hours are normal - that's considered a basic day, even for non-client facing staff, which you are by the sounds of things.

£29k sounds about right for an entry level marketing / knowledge management position - it sounds like a similar amount that a person in that role would get in my firm. So I don't think you're being underpaid by a great amount. You could certainly look around for something paying more or speak to your manager about an increas, but in this market, not many CF firms are hiring. So I suspect you'd be lucky to find a similar role in this industry right now.

Corporate Finance does have long hours, there's no getting around that. And you don't really see very large salaries until you get to a very senior position. That's the carrot they tempt you with - put the time in with the long hours and you'll eventually get the reward. If that's not for you and you're looking for a 9-5, I'd suggest you find another industry as that will never change!

From what you've said though, I don't think you're being underpaid.

somethingcorporate

Seems fine if you ask me - first job out of uni £29k basic seems pretty good.

I started on about £26k in consulting and worked a lot longer hours than you.

Thankfully I work a lot less hard for a lot more money due to putting the effort in in the early stages.

cottonhead

I would say it sounds OK as a first job although does sound a little tight considering your reponsibilities. Depends on the company too - is it a small company? Its probably your age and lack of previous job history and after a while you will be able to jump up the salary ladder. Make sure you do everything required of you and then have a polite word with your boss. Have you finished your probabtion yet ? Thats usually a good time to bring such matters up. Get some more qualifications too - that always helps put you above the competition. Nothing says you have to stay with this company remember. Gain some experience and then start looking elsewhere.