Torn between Looking for a New Job or Staying on My Current

Current status is Married and has one baby boy. I'm in mid-thirties and working as a professional for more than 10yrs now. Bachelors Degree holder but no qualification in Australia. All from overseas.
Working for the same company for the past 4.5yrs since I moved to Australia - Family business, has global presence - about 200 staff globally
Salary started at 55k + 5k Car allow + 10k capped commission - (inclusive of Super)
Salary now at 70k + 10k Car allow + 10k capped commission + unlimited fuel card (both personal and business ave. 2k/yr) - (all Inclusive of Super)

Company has great culture and people, generally no pressure working as product specialist/manager (IT products) but getting bored lately and has me thinking if applying for a bigger organization is worth taking the risk for a higher pay?
I've never tried other companies since moving to Australia so no idea if i am being paid fairly low or above average.
I've seen Job posting for a similar role that goes upto 115-130k/year and I feel like those role is even much easier than what I do.
I know those roles might have pressure to go along with higher pay but I'd like to think that I can handle challenges usually.

with a baby, we are heavier on expenses especially soon will be starting on child care.

My question is do you think I am being paid fairly compared to yours with my current role and salary? Let me know how much you are earning and what role and probably years on that role. (ideally technology products related)

Comments

  • +1 vote

    Why would you want to earn 70k when you could be earning double that?

    I was the same as you last year, but after deciding I needed to make a drastic change I have not looked back and earning 40% more than what I was on. Working in a multinational now (compared to a SME before).

    No risk no reward

  • +1 vote

    i have under 2 years exp and making about the same as you. You have way more exp and should be earning over much more.

  •  

    Fark I knew it!! i was too comfortable with my job and I was getting very good at it until I start feeling the weight of expenses having a child in Sydney…
    And somehow I have this feeling that because my qualifications are from overseas, that I won't get at the same salary level with a person with same overall experience as mine but has qualification here?!

    • +1 vote

      Don't think the qualification is the issue here. Work experience > qualifications (most of the time).

      You've stayed in a comfortable job and had no need to challenge yourself professionally. Growing expenses and a new addition to the family often serve as an excellent means of assessing your current job for all its worth (stress, responsibilities, challenges, and pay).

  •  

    Understand the motivation Money has. Once you have reached the point of boredom you've almost decided already, you need to look after number 1 nobody else will.

    Once i moved into the multinationals which has had it's highs and lows.

    (I've seen people cycle through the majors chasing the better money but never any more rewarding for the large% generally worse but they went for the money) there are exceptions as always but i'm going on my own network.

    Some important things to consider.

    It's hard to remove the handcuffs that come with the extra money earn more spend more (people find it hard to not splurge a bit) bigger house better car

    The grass isn't always greener on the other side, refer to third line.

    I know people who earn more than me and people who earn a fraction, i know which set are generally happier

  • +1 vote

    You've done the research yourself - it's clear that you are underpaid currently. However, you also note that this comes with certain perks and benefits (less stress, established network within the company, some level of influence, etc.)

    The question is also more or less clear - are you ready for the move? You've indicated so - expenses are high, you're finding that your income can't match, therefore, it is clear.

    My recommendation is to speak with a few recruiters (with strong references from other friends/family) and get a sense of what your market worth is before committing to roles. Having not spent time in the 'job market' - you are an easy target for unscrupulous recruiters and at times companies.

    Disclaimer: work in management consulting for one of the big 4 - so we always have exit strategies for when we want to move on from this space.

  •  

    Approach your current employer and ask for a pay rise, from what you have said you should be making in the 110-120k range.

    At worst they say no, then you know its time to move on to another employer.

    •  

      thanks for the advise. do you mean 110-120k overall package which shall include the car allowance and bonuses? or just the base? :)
      also is this excluding Super?

  •  

    Can you afford to be unemployed if you resign and can't find a new job straight away?

  •  

    What products do you specialise in, more specifically than just IT?
    PM me if you want

  •  

    Look for a new job - Sorry to be blunt but your salary is what a recent graduate with low experience would earn in some industries and you have 10 years experience. Even if that wasn't the case and you were still earning a decent market rate, would you not then want to strive to get the highest amount of money for your time, just for your own benefit?

    Remember that time and skills are your only resource, your time is finite, and you are selling it for cheap. Think of it as some countries sell oil, some sell diamonds, some sell services, some manufacture, you as an individual are selling time and skill to companies in the same way - and right now somebody is getting a great deal and it's not you.

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