Hello All,
I started a new job at an insurance firm in early 2018. I was hired as an administrative assistant at an insurance brokerage. The company itself administers full employee benefit packages to small and large local businesses including; health, dental, vision, life, AD&D and other voluntary lines of coverage. The company employs about 15 people, with 4 brokers (salesmen), a half dozen account managers, office manager, COBRA and document/technical expert.
Initially I was hired for $17 in an administrative support role. I did things like data entry, digitizing documents, filing, answering phones, preparing mailings then eventually helping account managers with ancillary work like insurance claims resolution, odds and ends with maintaining their accounts and often intercepting phone calls from their clients to provide customer support. Within a two months of learning new skills and helping colleagues around the office the owner asked if I would like to be promoted to an account manager. I agreed. He gave me a raise on the spot ($18) and said after three months of training we would re-group and discuss my role and compensation. I was ecstatic.
We should have had that discussion sometime mid-summer. It is now December and my role and compensation are yet to be addressed. I find myself taking on more work; accounts of my own, complicated insurance claims work, full on group enrollments, general customer service and support to all other managers in the office. I have account manager work of my own (small accounts) but have ended up doing the majority of claims/service related work for other account managers while being hammered in the 4th quarter. All in all, I have learned a great deal and am proud of myself.
After a hectic 4th quarter (insurance industry) my boss wanes between an optimistic and pessimistic mood on any given day. I believe I am ready to ask him for a meeting (sometime after the new year), when he is in a decent mood and my work has done well. However, after researching my salary I realized I am grossly underpaid.
I consider myself a level one benefit administrator. The going rate in my area is around $10k more than I am currently making annually. I'm not entirely sure how to approach the meeting because that sounds like a large pay increase. I would go in first discussing my role, how I mainly support other account managers while maintaining small accounts of my own, but have also done great work for clients on very complex claims. It feels a little ballsy to request a $27 while currently making $18.
How do I approach it? Should I just go in and ask? Help!
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