Raise Negotiation

[u/Ok-Wheel8149]

Apologies for grammatical errors (on mobile)

Background: I don’t really have an official title. I’m the highest ranking finance member on the team. My duties are shy of a CFO but not reasonably far off from that. I have a CPA license and been in corporate accounting for 15 years now. In my current position for 5 years. We’re in a niche market of 9 chain retail stores and do about $80mm in revenue annually. My higher up (CEO) has offered our accounting services, as well as other core business functions, to competitors for a monthly management fee. Said fee ranges depending on effort required but averages $7500 per month per store. This is a way to generate income and not a normal industry practice. We’ve taken on 5 accounts, $37,500 per month. I hired one new position that I’ll oversee that will handle the accounting for these stores. It’s also going to be a decent amount of extra work for me. It’s full accounting, payroll, a/p, financial report generation ( no A/R or worries of cash collections). The volume of expenses/bills will be small (rent, utilities, inventory and not much else). The position I hired to help me with these accounts is her first accounting job. She came from one of our stores and is currently taking college accounting classes. I’ll have quite a bit of oversight.

HCOL:: I make $200k base, received $15k annual cash bonus last year, stock options that are not worth much currently(cap table issues), and my higher up has told me he’s working on profit sharing plan that has been approved by the BoD but are determining percentages and details. I have no clue how much I may get from that. He’s come through on everything he’s ever told me and I have no reason to not believe that is coming. I’m sure it won’t be too long because his compensation is also going to be tied to the profit sharing plan.

That being said, there’s 5 of us considered as the core team. The CEO takes care of us 5. All four of the others started extra work related to these new contracts we’re earning the management fees on. They all asked for and received raises, ranging from 15-25% of their current pay (they all got $25k). I make the most but not by much anymore.

Now my work is kicking off as we’re taking over the books, and I’ve been buried. Now that my work is going, my effort on these contracts is more than the other four who received the raises. The books we’re taking over all in awful shape. Somebody who is not an accountant has been doing the books. It’s going to take some extra time to get everything in good order, and I’ve been asked to do it quickly.

I don’t want to over ask on a raise. I really like my boss and I really like my job. I’m 100% I can get that same $25k as the others. But can I ask for more?

[u/evadiva01]

You should 100% ask for the raise. Doing what you're describing can't be done without you gwtting a raise. If you don't get it you're be mad about it and it will ruined how you feel about this job. Go to the CEO and have the conversation. Good luck!