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Started By
Message
Negotiating a Raise
Posted on 1/23/15 at 1:49 pm
Posted on 1/23/15 at 1:49 pm
Sorry for the length but I wanted anyone reading to have all the details.
Background: Construction Management Degree from LSU, 4 years experience as a project manager for a subcontractor in New Orleans, over 10 years working in the construction industry. Starting salary was $45,000 plus heathcare benefits.
I received a 3% raise a year and half ago, but based on my performance and the size of the projects I'm managing I believe I deserve a considerable increase. The median annual salary for someone with my experience and education is above $60,000 according to salary.com
I've met with my boss and he agrees I deserve a bump. He suggested I take the weekend to figure out a fair number that I would be comfortable and happy with coming to work every day. My question is, what should I ask for and realistically expect? Obviously I want the most I can get, but we're a smaller firm and I don't want to go in with a number that makes me look greedy.
Background: Construction Management Degree from LSU, 4 years experience as a project manager for a subcontractor in New Orleans, over 10 years working in the construction industry. Starting salary was $45,000 plus heathcare benefits.
I received a 3% raise a year and half ago, but based on my performance and the size of the projects I'm managing I believe I deserve a considerable increase. The median annual salary for someone with my experience and education is above $60,000 according to salary.com
I've met with my boss and he agrees I deserve a bump. He suggested I take the weekend to figure out a fair number that I would be comfortable and happy with coming to work every day. My question is, what should I ask for and realistically expect? Obviously I want the most I can get, but we're a smaller firm and I don't want to go in with a number that makes me look greedy.
6
Posted on 1/23/15 at 2:22 pm to J.Peterman
What side of the construction business are you in (Residential, Commercial, Industrial)? 45K seems low depending on the sector. There are guys coming straight out of LSU with CM degrees making 80K+ a year. If this is something you could potentially be interested in I would look into making a switch. But if you are comfortable doing what you are doing then I don't see why a 10-15% increase wouldn't be fair. Just make sure you can walk in there and give reason why you deserve this, give examples of how you are beneficial to the company (profits made on jobs, client relationship...etc) FYI: when looking on salary.com make sure these salaries are comparable to your region and type of construction. There is way more money in Industrial than the other two.
Posted on 1/23/15 at 2:24 pm to J.Peterman
Look up the glassdoor.com salaries of your competitors. Bring that information to your boss and ask to be compensated the same as them. If he is hesitant make him throw out a number. If it's a low ball try and come to an agreement of some goals you can hit to earn it. Otherwise it's time to look elsewhere.
Posted on 1/23/15 at 2:27 pm to AngryBeavers
If your boss aims for the lower end of the raise, then I would possibly try to negotiate an extra week of vacation in since that wouldn't cost them anything.
Posted on 1/23/15 at 2:28 pm to LSU1018
quote:
try to negotiate an extra week of vacation in since that wouldn't cost them anything.
Good idea, but yes it does cost them money.
Posted on 1/23/15 at 2:41 pm to TigerSaint1
I'm in commercial. Managing 3 or 7 projects a year varying anywhere from 250k-4 million.
ETA: I have solid backup from project managers that work for a general contractor, but I'm not sure what the market is like for a sub contractor PM. I like the company I work for and there is potential to move up to a VP or Presidents position down the road.
ETA: I have solid backup from project managers that work for a general contractor, but I'm not sure what the market is like for a sub contractor PM. I like the company I work for and there is potential to move up to a VP or Presidents position down the road.
This post was edited on 1/23/15 at 2:50 pm
Posted on 1/23/15 at 2:59 pm to J.Peterman
[
This post was edited on 6/11/15 at 8:56 am
Posted on 1/23/15 at 3:07 pm to J.Peterman
To give you some insight from someone who graduated a year ago..
The guys getting 80+ in a project job out of a school that I knew were engineering majors and also went to work for major O&G companies. I took a projects job right out of school in the mid 60's in a larger city. Another good friend in the industry is right at 90 with 4 years of experience in another large city. These are both corporate positions and not with contractors FWIW.
The guys getting 80+ in a project job out of a school that I knew were engineering majors and also went to work for major O&G companies. I took a projects job right out of school in the mid 60's in a larger city. Another good friend in the industry is right at 90 with 4 years of experience in another large city. These are both corporate positions and not with contractors FWIW.
Posted on 1/23/15 at 3:08 pm to J.Peterman
Smaller firms generally pay on the low end of the scale, because it's not as complex, not as many hours, etc.
Can you stratify that data from salary.com by size of company?
Can you stratify that data from salary.com by size of company?
Posted on 1/23/15 at 3:10 pm to J.Peterman
quote:
according to salary.com
That data is garbage in garbage out
Posted on 1/23/15 at 3:23 pm to TigerSaint1
Thanks for the input.
Bonuses kinds of vary year to year depending on how the company did for the year. Last year was a little below 5% the year before was a little over 5%.
We talked about focusing my efforts more on the front end of projects to get a little more experience estimating and selling jobs which will be helpful in the future for a vp of operations position which is where I would ultimately like to end up. I had 60k figured in my head, but I'm wondering if it would be better to come in closer to 55k and maybe request a company truck or a monthly allowance. I'm not traveling too far or using my vehicle that often for jobs but it would be nice to not have that expense. Would it be beneficial for the company to offer that as opposed to additional salary? I'm not sure how much of that they could write off tax wise.
Bonuses kinds of vary year to year depending on how the company did for the year. Last year was a little below 5% the year before was a little over 5%.
We talked about focusing my efforts more on the front end of projects to get a little more experience estimating and selling jobs which will be helpful in the future for a vp of operations position which is where I would ultimately like to end up. I had 60k figured in my head, but I'm wondering if it would be better to come in closer to 55k and maybe request a company truck or a monthly allowance. I'm not traveling too far or using my vehicle that often for jobs but it would be nice to not have that expense. Would it be beneficial for the company to offer that as opposed to additional salary? I'm not sure how much of that they could write off tax wise.
Posted on 1/23/15 at 3:42 pm to J.Peterman
quote:
I have solid backup from project managers that work for a general contractor
This is where the money is going to be in your field.
quote:
but I'm not sure what the market is like for a sub contractor PM
When read to original post, this was my thought exactly. And I think it depends on the size and scope of your trade, but generally speaking the more "subs" you have in front of you the less your going to make. Just my thoughts
Posted on 1/23/15 at 4:11 pm to J.Peterman
quote:
I had 60k figured in my head
I don't think that is unreasonable. Just lay out everything you have done and are currently doing for your boss.
Posted on 1/23/15 at 10:49 pm to AngryBeavers
My situation is very similar to the OP. Work for a subcontractor been there 3 years, graduated with cm degree, estimate/pm, jobs I run range from 1.5k to 1mil, small company and I love my working environment.
The only thing that differs is have a base salary around 45k and I get commission on jobs. (+-7% of the profit) Lots of potential to make good money.
I went to my boss in a very causal way and asked for a raise or what I needed to do above and beyond what I was doing currently to get that... It didn't go as I played it out in my head. Basically very small raises for me and tons of money if I have a good year.
Make sure you let your boss know how valuable you are to him/her. Would be my only advice.
Good Luck!
The only thing that differs is have a base salary around 45k and I get commission on jobs. (+-7% of the profit) Lots of potential to make good money.
I went to my boss in a very causal way and asked for a raise or what I needed to do above and beyond what I was doing currently to get that... It didn't go as I played it out in my head. Basically very small raises for me and tons of money if I have a good year.
Make sure you let your boss know how valuable you are to him/her. Would be my only advice.
Good Luck!
Posted on 1/24/15 at 8:55 am to J.Peterman
(no message)
This post was edited on 8/1/15 at 11:33 pm
Posted on 1/25/15 at 2:07 pm to BAMAisDIESEL09
I'm 28 years old and what you're saying is basically in line with what I was thinking in my head. You hiring? Haha
Posted on 1/25/15 at 2:19 pm to J.Peterman
Yeah around $60k sounds right.
This post was edited on 1/25/15 at 2:20 pm
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