So I'm going to sum up to you what others have said and what my take is. I'm a 44 year old Systems Engineer working for one of the tech giants.
1. You were fresh out of college. You were supposed to be a bargain due to that. I worked for a medium sized company back in 98-2006 and we hired a lot of college newbs. The job was a great job to get started with, with decent starting pay. It was also an awesome job to network with as we were contracted out to many of the tech industry giants. Many didn't last there as we hired them in at 30-32k with no experience and they felt that simply due to their degree they should be worth $100k after a year, but not a single one of them understood the level of work that $100k would take. We let one guy go after he kept insisting he was worth $100k in that position yet his billing was only about $55k per year. He refused to understand the math and continued to harp on management and myself that he was worth more. We grew sick of it, and we dismissed him as a lesson to him and all. They were young, inexperienced, and profoundly unprofessional. After five years on the job they would be making $45k-$60k depending on their utilization rates, and they would most likely be picked up by a client directly with a healthy pay raise.... So the message here is, you paid your dues and it is time to shop around.
2. Ask for the raise. ASK FOR IT. It does not hurt to ask. Before you ask, make sure you have a Linkedin.com profile and that it is 80% complete. Then make sure you are linkedin with your managers and peers. THEN you ask for your raise. Be realistic. It is exceptionally rare for a company to raise your salary to the median/mean just because of your research into the matter. Research the local job market and demand for your skills in that market. I wouldn't expect anything more than 5-10% if they bite. Now, the reason for the Linkedin profile and 80% is important. Just before and after you ask for the raise you should be editing your profile. Add new experiences, add awards, or accolades you've received. Add volunteer work, and ask your peers to review your contributions/skills on Linkedin. Your managers and peers will be getting emails from linkedin telling them you are updating your profile. That will signal to them that you are shopping around or getting ready to leave. As simple as that sounds, it works and there is very little downside to it - in other words, literally zero risk in playing that game. Just don't ask for the raise, come armed with why you deserve one. An employer will probably roll their eyes if you bring up details about median wage for your profession... it is worth mentioning, but do not dwell on that much. DO Dwell on your experience, your competency, your value to the business and your contributions over and above what the job entails.
3. Prepare to leave. Yes, that means looking for a job at the same time as #2. Sometimes you can use a half assed offer from another party to get a counter offer from your current employer. I have found counter offers to be the largest single item of leverage to get a current employer to increase my pay far more than 5-10%. Most of the time though I have refused the counter and took the new job. Ultimately, finding work else ware is your quickest way to grow your pay and benefit package.
4. Determine if you would relocate. Yes. My pay has gone up significantly because I accepted offers to move out of state. Do I do that for every job? No, but I've hopped twice for good offers and they have paid off nicely. This was while I was young and unmarried which made it easier. Relocating for pay may be necessary if your local job market for your profession is stagnant.
5. Like the company? Can't relocate? No bites from other companies? Then perhaps you should ask for a promotion instead. It will likely raise your pay but bring in a whole new set of headaches especially if the pay in that new position with the same company is also not competitive... but hey, it will be more pay.
6... Here is the big if... If your skills as an engineer align with a professional sales job then that would be the alternative to aim for. You need people skills, you need to be out going and driven, but if there is a company out there looking for a professional seller with your background, you can triple or quadruple your pay in a few short years. I told you I'm a systems engineer... But I'm also a Sales Engineer. I make over $100k more than most of the IT engineers working at my customers. My base is higher than their salaries and my commission is what makes the largest difference. So don't rule out diverging from your current cubicle dweller job - with risk comes reward.
1. You were fresh out of college. You were supposed to be a bargain due to that. I worked for a medium sized company back in 98-2006 and we hired a lot of college newbs. The job was a great job to get started with, with decent starting pay. It was also an awesome job to network with as we were contracted out to many of the tech industry giants. Many didn't last there as we hired them in at 30-32k with no experience and they felt that simply due to their degree they should be worth $100k after a year, but not a single one of them understood the level of work that $100k would take. We let one guy go after he kept insisting he was worth $100k in that position yet his billing was only about $55k per year. He refused to understand the math and continued to harp on management and myself that he was worth more. We grew sick of it, and we dismissed him as a lesson to him and all. They were young, inexperienced, and profoundly unprofessional. After five years on the job they would be making $45k-$60k depending on their utilization rates, and they would most likely be picked up by a client directly with a healthy pay raise.... So the message here is, you paid your dues and it is time to shop around.
2. Ask for the raise. ASK FOR IT. It does not hurt to ask. Before you ask, make sure you have a Linkedin.com profile and that it is 80% complete. Then make sure you are linkedin with your managers and peers. THEN you ask for your raise. Be realistic. It is exceptionally rare for a company to raise your salary to the median/mean just because of your research into the matter. Research the local job market and demand for your skills in that market. I wouldn't expect anything more than 5-10% if they bite. Now, the reason for the Linkedin profile and 80% is important. Just before and after you ask for the raise you should be editing your profile. Add new experiences, add awards, or accolades you've received. Add volunteer work, and ask your peers to review your contributions/skills on Linkedin. Your managers and peers will be getting emails from linkedin telling them you are updating your profile. That will signal to them that you are shopping around or getting ready to leave. As simple as that sounds, it works and there is very little downside to it - in other words, literally zero risk in playing that game. Just don't ask for the raise, come armed with why you deserve one. An employer will probably roll their eyes if you bring up details about median wage for your profession... it is worth mentioning, but do not dwell on that much. DO Dwell on your experience, your competency, your value to the business and your contributions over and above what the job entails.
3. Prepare to leave. Yes, that means looking for a job at the same time as #2. Sometimes you can use a half assed offer from another party to get a counter offer from your current employer. I have found counter offers to be the largest single item of leverage to get a current employer to increase my pay far more than 5-10%. Most of the time though I have refused the counter and took the new job. Ultimately, finding work else ware is your quickest way to grow your pay and benefit package.
4. Determine if you would relocate. Yes. My pay has gone up significantly because I accepted offers to move out of state. Do I do that for every job? No, but I've hopped twice for good offers and they have paid off nicely. This was while I was young and unmarried which made it easier. Relocating for pay may be necessary if your local job market for your profession is stagnant.
5. Like the company? Can't relocate? No bites from other companies? Then perhaps you should ask for a promotion instead. It will likely raise your pay but bring in a whole new set of headaches especially if the pay in that new position with the same company is also not competitive... but hey, it will be more pay.
6... Here is the big if... If your skills as an engineer align with a professional sales job then that would be the alternative to aim for. You need people skills, you need to be out going and driven, but if there is a company out there looking for a professional seller with your background, you can triple or quadruple your pay in a few short years. I told you I'm a systems engineer... But I'm also a Sales Engineer. I make over $100k more than most of the IT engineers working at my customers. My base is higher than their salaries and my commission is what makes the largest difference. So don't rule out diverging from your current cubicle dweller job - with risk comes reward.