Unfortunately, I’ve witnessed compensation-related performance issues far too often at my previous employer. After annual reviews and merit increases, it wasn’t long before everyone knew what their colleagues were making and the raises they had received. This knowledge inevitably shifted efforts and mindsets, leading to decreased motivation and engagement for some employees.
For this post, I’ll use myself as an example. I was an Assistant Branch Manager earning X amount and had been in this leadership role for over five years. My career trajectory was clear – I was next in line to become a Branch Manager. In fact, I had essentially been running the branch on my own for a year without an acting Branch Manager. I also trained two new Branch Managers during this time. The Credit Union wanted me to step into the Branch Manager role, it was almost a given. However, the only obstacle was the salary.
The offer presented to me was only a few dollars more than what I was already making. While I don’t recall the exact difference, I do remember that it wasn’t enough to make me feel valued for my time, effort, and increasing responsibilities. The weight of the additional duties and expectations that come with being a Branch Manager simply didn’t align with the compensation. Ultimately, I respectfully declined the offer, choosing instead to remain an Assistant Branch Manager, where I felt more satisfied with the balance between pay and responsibilities.
Of course, other factors contributed to my eventual decision to seek new employment, but compensation and benefits played a significant role in making my new offer more attractive. Now, in my current role at a different organization, I make nearly $10 more per hour in the same Assistant Branch Manager position than what I was offered as a Branch Manager at my previous employer. Before leaving, I didn’t realize how underpaid I was. Looking back, it’s shocking to see how my previous employer’s salaries compared to others in the industry. We used Compa-Ratio to determine pay, and while I understand the validity of that metric, it’s hard to ignore the average wage within the industry, especially when your own salary appears to be below average.
My job has always been about leadership and service – developing employees and assisting members with their financial needs. There were moments when I thought, Should I put in less effort? but that’s not my mindset. I believe that peers and members shouldn’t suffer based on my pay rate, and I should treat them the same whether I’m making $5 or $10. Unfortunately, not everyone shares this perspective. I often heard coworkers say, “That’s not in my job description,” or “I need to get paid more if I’m expected to do XYZ.” While I can understand that perspective, I have always seen myself as a team player eager to learn and grow.
Taking on the responsibilities of a Branch Manager for a year exposed me to new experiences. I handled difficult employee conversations, managed member escalations, interviewed and hired new recruits, trained incoming staff, and much more. That exposure ultimately equipped me with the skills to be a stronger candidate for future leadership roles. While compensation was a deciding factor in my job change, the experience itself was invaluable, and I’m grateful for how it has shaped my career growth.