Not being given pay rise

atush

Please tell me he i paying into a pension for you?

Start looking for a new job today.

crv1963

I'd look for a new job to be honest, you sound as though even a pay rise would not really make a difference to your feeling under-valued.

Find another job, state the package to your boss and at that point start negotiating a better rate of pay. Too many say they are going to go but never follow through with it.

Take a view of the whole package, I was once offered a role with a 10k pay rise, but the pension was simply the absolute minimum they could get away with so made the role I had at the time better in terms of future retired income. You need to find a balance that suits you and your needs.

Only you look out for you. The boss looks out for the boss.

Brynsam

modelreject wrote: »

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 look at the accounts - they will show you the dividends paidor just storing the money up for retirement Look at the accounts - they will show you contributions to pensions and it should be easy enough to work out how much of these are for his benefit! 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? Without knowing the size of the company or the sort of industry, it's impossible to judge anything from that. Looking at numbers in isolation is often wholly misleading.

As others have said, why stay if the chip on your shoulder is growing on a daily basis? Start thinking about a plan on how to move forward: either by working for another employer (and running the risk of the cycle of feeling miffed and undervalued repeating itself), or going it alone. If you are seriously considering the latter, don't jump until you have a few business basics under your belt, most especially how to read a simple set of company accounts. Yes, you would do well to get an accountant, but having a grasp of how your own company is doing financially frequently makes the difference between success and failure. Try https://www.fool.co.uk/investing-basics/understanding-company-accounts/ and https://www.gov.uk/browse/business

modelreject

I have the weekend ahead of me so plenty to consider. Some late night reading to do too :-)

spadoosh

PasturesNew wrote: »

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.

Must have met a different bunch of bosses to me.

I know mine works 12-14 hr days. Is available literally any time 24/7. Invested a lot of their own money starting a business where its more or less 50/50 theyll still have it in 5 years. Then they have to deal with staff who think they know more who inevitably never have the bottle to put their money wear their mouth is, usually because theyre increcibly ignorant of how business works. I mean, if you dont like bosses, why arent you one?

penners324

Pastures New must be an avid reader of the Socialist Workers Weekly. In 99.9% of cases he's talking nonsense.

99.9% of small company owners are working every hour imaginable just to keep their company afloat and ticking over.

It's the owners that take all the risk of setting up and keeping afloat their comp

coyrls

spadoosh wrote: »

I mean, if you dont like bosses, why arent you one?

Why would you want to be something you don't like?

Thrugelmir

modelreject wrote: »

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.

Then look for another job. Speculating about what is going on behind closed doors is pointless. Companies fail for any number of reasons. Employees unfortunately are normally the last to know.

lisboa84

If one hasn't received a pay-rise in 10 years, and let's say inflation is 2% - 2.5% a year, then is it reasonable to state that the original 2009 salary is actually worth 20%-25% less today than it was when they started 10 years ago?
That would be the argument I would put forth to the manager. A 25% salary increase would match that of the 2009 starting salary.
I guess it doesn't really work like that?

JoeEngland

modelreject wrote: »

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

Vote with your feet if you're not happy with the pay.