Not being given pay rise

modelreject

Apologies first of all as I could not see a forum category to post this in, so if there is a better one please let me know and I will move to there :-)

I have been part of a very small limited company (10 staff) from the very beginning for over 10 years. The boss is refusing to give me a pay rise but I feel he is hoarding the money, possibly paying himself huge dividends or just storing the money up for retirement! I know this is all legal and legit but I just find it unfair.

I gained access to the account, which are public. I just need some help understanding them.

I see a figure of over 480,000 (Net assets/Profit and loss account). Is that how much money the company has is the account?

Many thanks,
M

marlot

Here's the employment board https://forums.moneysavingexpert.com/forumdisplay.php?f=141

You're right about net assets being the money and other things the company owns. Those assets can disappear quickly if the company has a bad debt, a business deal goes wrong etc. Yes, the owner gets the biggr share when times are good - but also carries the issues when times are bad.

Ultimately you have to decide whether you want to stay or move on. Unless you can come up with some form of win:win. Perhaps 'if I bring in a major new customer, I get x% share of the net profits from that customer'.

modelreject

Thanks Marlot! It seems unfair and I am seriously considering moving on as I have basically made the company what it is. Sounds bitter doesn't it lol

snilloct1957

After ten years with the firm, if you feel your talents are not being appreciated, then maybe it's time to look for pastures new? The boss may then realise he is going to lose a valuable member of staff and make it worth your while to stay...here's hoping.:)

Anonymous101

Perhaps try talking to them and justifying why you think you deserve to be paid more.


Are there other similar roles you could compare against at other companies? In my line of work its fairly easy to speak to recruitment people and get an idea of what competitors are paying for someone in my role. Failing that look at advertisements, any industry reports or even just apply for a few jobs and talk to the hiring staff about likely packages.


I know several people that feel they are underpaid because of the value they bring to their company but they couldn't earn more elsewhere. If you're in that position the only thing you can do is try to put your case forward or accept it... or of course leave to a competitor or even set up a business of your own.


If you're really good you might find that even the mention of leaving has your boss thinking twice about that pay rise.

modelreject wrote: »

Thanks Marlot! It seems unfair and I am seriously considering moving on as I have basically made the company what it is. Sounds bitter doesn't it lol

Just seen the above.... if that's the case definitely look at starting up on your own!

modelreject

Thanks everyone. Just getting motivated now and talking on board all your suggestions: Checking industry salaries; Job availability; Talking to the Director etc :-)

westv

Most people make their best pay rises by moving rather than staying at the same company.

marlot

modelreject wrote: »

Thanks Marlot! It seems unfair and I am seriously considering moving on as I have basically made the company what it is. Sounds bitter doesn't it lol

What's to stop you starting up on your own?

Anonymous101

westv wrote: »

Most people make their best pay rises by moving rather than staying at the same company.

I agree. Although I have had substantial pay rises (~20%) by talking to my bosses and explaining that I know that similar roles at other companies are paying much more and asking if they could do anything.

PasturesNew

modelreject wrote: »

.... I feel he is hoarding the money....

modelreject wrote: »

Sounds bitter doesn't it lol

No, it doesn't sound bitter at all. Your feelings are important. This is how most bosses work though... the less they pay you, the more they have to spend on holidays, meals out, a new car, wife's new dress, activities, hobbies.

If I can get away with paying you £10/hour and me £80/hour, then I find the company has made £40k profit, I could increase your wages to £20/hour, or I could increase mine to £90/hour.

Many people assume "everybody gets tax credits/UC top ups" so, even if they thought about it, they'd decide you'd only lose those top ups, so they might as well keep it. The reality is that single people don't get any top ups and their single wage is all that's coming in ... anyway, wife's been waving brochures about, wants a new kitchen.

Many workers are the backbone of a company, going above/beyond the role, always watching the back of the company, giving it 110%, day in, day out. Bosses don't really give a !!!!!!, and you won't change them.

It's a bit of a right bugg4h. I feel for you.

modelreject

"Many workers are the backbone of a company, going above/beyond the role, always watching the back of the company, giving it 110%, day in, day out"

So true!

@marlot I may consider starting up on my own. Family life at the moment is a bit hectic to say the least so it seems very daunting :-)