Need to vent about my job!!

smurfy

i work at a bank doing processing, underwritine, inputting, closing, signing and anything else related to mortgage or home equity lines of credit. As we all know the rates have been incredibly low for the past 2 years. last year the bank more than took care of me with my raise and my bonus. this year i feel as though they have totally insulted me with what they have offered me. its barely a third of what they gave me as a raise last year. my bonus is about half of what it was. this past year i have been coming in early to work, working through almost EVERY lunch break, staying after work every day, and coming in on all my free saturdays. i am a single mom (just recently got engaged so i have some more help now) and i feel that i deserve to be rewarded and appreciated for the sacrifices that i have made for this place. i had a meeting with my boss and told her exactly how i felt. well needless to say, that went over like a lead balloon. i am now the black sheep of the office. well the board came back and offered to pay me a higher hourly rate versus my lower salary rate but i would have to cut back on my hours. so in turn---its exactly the same amount!!!! HELP!!! Does anyone have any suggestions? other that looking for a new job??

Euphemism

I'm sorry to hear that, smurfy! It sucks to not be appreciated. Sometimes, I think that raise & bonus is dependent on the company's performance, not just the individual's. So I don't know if that might be a factor. But if it is, it would have been nice of your boss to at least explain that to you, and acknowledge that you deserved more.

I do have a suggestion, however. You wrote:

well the board came back and offered to pay me a higher hourly rate versus my lower salary rate but i would have to cut back on my hours.

Well that might actually be a good idea, wouldn't it? I mean, working all that overtime sounds pretty stressful to me. If you could make the same amount of money without working overtime, why not take it?

Makena1

Smurphy - sorry to hear about the issues with your employer. You sound like a very dedicated, hardworking person - however, in view of what is happening in the mortgage industry right now, your good performance basically will keep you employed over someone else.

My clients are mortgage bankers - Washington Mutual is one of the biggest - and they just announced that they would be laying off 1,000's of mortgage origination people due to the slow down in refi's etc. Bottom line, the lower pay and bonus sucks, but its better than standing in the unemployment line.

Suggestion, use any extra time you can afford learning other duties (if they will allow that), volunteering for side projects, etc - whatever will keep managements attention focused on your good qualities.

Good luck!

Mak

(who has also experienced a big downturn in bonuses and commissions the past 6 months - I feel your pain!)

Gopher

I can't tell how long you've been working at this bank. But if you were relatively new last year (when you got the generous raise), it may be that -- because you had proven yourself, they wanted to bring your salary more in line with what should be paid to an experienced employee. Perhaps your lower raise this year was because your salary was already brought up to a "good level" the previous year. But if you're not sure whether it was performance-related or not, check with your manager (or your manager's manager). If it WAS performance-related, then the previous advice about finding how you can become even more valuable to the bank might be a good idea.

As for the bonus, usually bonuses are distributed fairly equally among a firm's employees, based on that year's profitability. My bonus this year is going to be about one-fifth the amount that it was last year, due to factors including a tough economic climate.

I would bet you're a valued employee, based on all you do. But to FEEL that way, you need to open up the lines of communication with those responsible for rating your work and determining your salary. I'll bet you'll get good results.

frenchbabyface

wish you well ...

PS : you still can stay while you looking for another one ...

Navigator

It is generally bad policy to see yourself as a victim or as being taken advantage of. Someone will come out of the woodwork and victimize you. Times are tourgh all over and your company may not be doing as well as they did last year. So many are unemployed right now. That the board offered you a higher salary is a good indicator that you are a valued employee. That they need you to cut back on your hours tells me that their labor costs are out of line. I have managed various operations for more than 40 years. Computers enable us to keep close track of our labor costs. When they get above a certain level, cuts have to be made. Better to cut hours than to cut people. Take the raise, cut the hours and reduce the stress.

smurfy

Thanks for all the advice and comments. Just a tough one at work today! LOL, hopefully it will get better cuz i won't be there if it gets much worse!

freelife

GO POSTAL!!!!!!!!! JUST KIDDING HONEY

Eyebrow2

Unfortunately, what you are experience is what millions have been experiencing since post 9/11.

By the way...I worked in mortgage processing and closing for 3 years so I understand how stressful your job can be. If they offered you more money, but said you had to cut your hours, that is actually a compliment. Sounds like they do value you, but you cannot get blood from a stone.

Instead of getting upset, try to take in the whole picture. If they more than took care of you when things are good, dont you think they will again as the economy gets better? You are in a difficult situation, but for your own sake I think it is very important to remember that when those good times come around, your employer may remember those that stuck it out valiently than those that stuck it out, but with less than a good attititude.

You did the right thing by asking if they could provide more, but maybe you were a bit unrealistic about what they could actually give you. You do have to take care of yourself, but if you cannot work with a team attitude, then you might find yourself shooting yourself in the foot. If you feel you need to find another job, go ahead, but leave with dignity, and I would suggest NOT telling any prospective employer that you did not feel valued as your reason for leaving. Trust me, it is always a turn off when I hear that from candidates. That marks you as a fair weather employee.You can come up with position reasons for seeking a new position without lying.

The suggestions that others have made here about cutting back your hours and taking the raise to reduce stress is a great idea. And like Navigator wrote, take that extra time to get new skills so that you will enable yourself to move up the ladder where you are, or get the necessary skills to find a higher position elsewhere. And of course, take some of that time to just renew your spirit with non work activities...when I was in mortgage banking I hardly had a life...it was very depressing..don't forget to take care of your career and your life.

Need to vent about my job!!

Share this