I’ve been seriously thinking of asking my boss to reduce my hourly wages 28%.
:feedback: Would this show I am a team player to the company or is this a stupid idea? Has this been done before?
This is the background story:
My previous employer went bankrupt 6 months ago; my current employer took over that company’s business, kept me on their payroll for a year (re-negotiate end of term). I am being paid on hourly wages & bonus on # of transactions closed each month & $200 medical reimbursement monthly. The business is not going well, so it is a negative cash flow in my job position, I can almost see that by end of Feb, they will lay off me. I could claim unemployment, but that would be less than the reduce wage, or I can go independent & compete with many others (in my same field) out there. :ache:
There is an independent contractor (who used to be my assistant) is luring businesses away from me with a reduced service fee (already lost quite a few contracts to her in the last 6 months:grrr. The only way I can get more business (back) is to ask my employer to reduce the service fee, in order to balance that; I shall need to reduce my hourly wage (keeping the bonus & medical pay the same). By offering this, I might be able to keep my job for longer time until the market picks up. When the market was good, my job used to increase company’s profit margin.
I’ve already re-do the budget, discuss with DH about this anticipate ‘pay cut’; he’s okay with this. Fortunately, his pay is stable, we have savings (about 4 months worth of living expenses), another BEF; we shouldn’t need to dip into the savings. Originally, my pay was to snowball credit card debts, with a little left over for savings. With this pay cut, we plan to pay minimum to credit cards, cut back on all expenses, & put away all extra cash in savings. Later on, when market is more stable, then we can pay the cc debt in full.
Thank you for reading this long post.
:feedback: Would this show I am a team player to the company or is this a stupid idea? Has this been done before?
This is the background story:
My previous employer went bankrupt 6 months ago; my current employer took over that company’s business, kept me on their payroll for a year (re-negotiate end of term). I am being paid on hourly wages & bonus on # of transactions closed each month & $200 medical reimbursement monthly. The business is not going well, so it is a negative cash flow in my job position, I can almost see that by end of Feb, they will lay off me. I could claim unemployment, but that would be less than the reduce wage, or I can go independent & compete with many others (in my same field) out there. :ache:
There is an independent contractor (who used to be my assistant) is luring businesses away from me with a reduced service fee (already lost quite a few contracts to her in the last 6 months:grrr. The only way I can get more business (back) is to ask my employer to reduce the service fee, in order to balance that; I shall need to reduce my hourly wage (keeping the bonus & medical pay the same). By offering this, I might be able to keep my job for longer time until the market picks up. When the market was good, my job used to increase company’s profit margin.
I’ve already re-do the budget, discuss with DH about this anticipate ‘pay cut’; he’s okay with this. Fortunately, his pay is stable, we have savings (about 4 months worth of living expenses), another BEF; we shouldn’t need to dip into the savings. Originally, my pay was to snowball credit card debts, with a little left over for savings. With this pay cut, we plan to pay minimum to credit cards, cut back on all expenses, & put away all extra cash in savings. Later on, when market is more stable, then we can pay the cc debt in full.
Thank you for reading this long post.