Daily Money Hack » Employment http://dailymoneyhack.com Hack the planet('s bank account) Fri, 18 Jun 2010 17:56:01 +0000 en hourly 1 http://wordpress.org/?v=3.0 Don’t Quit Jobs For Less Than An 8% Raise http://dailymoneyhack.com/dont-quit-jobs-for-less-than-an-8-raise.htm http://dailymoneyhack.com/dont-quit-jobs-for-less-than-an-8-raise.htm#comments Wed, 21 May 2008 11:30:36 +0000 DMH http://dailymoneyhack.com/?p=157 According to Salary.com’s 2008 Job Satisfaction Survey, 50% of employers believe that a salary increase of 8-15% is enough to lure an employee away from their current company. 13% believe a piddly 1-7% is enough, they must be companies with ridiculous benefits or looking for folks in soul-crushing positions because 1-7% is a pittance. 33% of employers believe 16-30% where only 4% believe 31% to “never.” So, if a company is offering you less than 8%, they’re in the small 13% minority that think it’ll work – don’t reinforce that idea!

If you want some more numbers, 38% of employees demand at least 16% to leave while 17% demand over 31% (6% will never leave!), so if you take less than 8% and are leaving for compensation reasons… you’re in the 7% foolish minority.

Lesson of the Day: 8-15% is the golden zone for employers, 16-30% is better. Don’t be a fool and leave for < 7%.

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