One of the lasting effects of the current recession is the dip in wages for new graduates. Your first paycheck has a lasting impact on your lifetime earnings, so getting a high starting wage is important.
To help arm young workers, Churnless has created GetRaised, a service that will help users determine if they are underpaid while creating custom raise requests to help make sure users are getting the salary they deserve.
“A lot of times people make an emotional appeal rather than a data-driven approach,” says Dave Clarke communications strategist at Churnless. The company is scattered around the country with Clarke setting up shop here in Old City.
Users have to provide the service their job title, experience and other information and GetRaised will use government data, job listings, as well as the data from other users to produce a salary range.
Clarke says the company was inspired to created GetRaised after reviewing the data of their personal finance planner Thrive, a Mint-like service that was acquired by Lending Tree in 2009.
“[With Thrive,] women were better savers but they just weren’t making enough money compared to men. The gender wage gap was something we [want to] help to close,” says Clarke.
GetRaised also produces a raise request letter (“It’s like Mad Libs,” says Clarke) along with advice on how to handle the meeting with your boss. The service will even issue reminders if you do not ask for a raise within six months.
According to the company’s website, the average user raise is $3,078, and if GetRaised fails to deliver, it promises a full refund.