All, sorry for the late reply as it took me awhile to read through everything and gather my thoughts on how to respond to everyone. Some of you are very understanding and i thank you for that, while i feel some of you are a bit harsh. But i thank you anyway for providing sound advice. As of now i have not spoken with my boss and most likely will not. I knew it would be a better idea at the time to just thank my boss, take a deep breathe, and have some time to think about it.
The one that thing bothered me the most about this was how some of you are calling me a spoiled brat, like i'm a 16 year old girl that is just taking handouts and not working for anything. It seems there is quite a bit of pent up anger. Please don't... you know nothing of my work ethic or my background. I come from a poor family and had to work my weigh up just like most of you have im sure. When i'm on the job i don't just sit around and surf the web all day; i do my work, learn how to do it better (i ask my mentor & boss a million questions, and they have told me this a good thing), and ask for more. I even help the team out by assisting them when they are too overloaded, and helped mentor a new hire whenever i could. I came here to ask for advice on what steps to take, not just to vent. But maybe i am out of touch with reality, i don't know, i am still too "green" in the professional working world to know.
I will start by saying that my salary was around $50k/yr, which i would say is decent but definitely not spectacular, in NYC. So i don't understand how a 4% raise is supposed to be considered "amazing" when the typical monthly mortgage for a house here is about 150% of my monthly take home (after taxes, expenses, etc.) and rent is about 40%. And i don't want to move away as it will split my family up, which is already very small to begin with in the US. It seems you are all saying it is a lot because it is what the norm is in this field, but i am saying in terms of being able to live a quality life it is morsels. If they say engineering is one of the top paid professions, how on earth are the lesser paid professions surviving in this city? And who is even able to live here then? Only CEOs?
Here are my reasons as to why i thought i would get more (I was expecting about 8% raise, which i would have been ecstatic about):
-I worked hard and put in my time, late nights, weekends, etc.(Unpaid OT). A few of the projects were pretty major to the company in terms of revenue as well. No major mistakes as far as i know, and the client for one project i was working on even sent a thank you letter to our principals stating how good of a job we did.
-Of all the people in my department, 1 has a PE, and i am the only other person that has an FE pursuing a PE.
-I know in larger companies you do one specific task, but in mine we are doing the surveying, drafting, mark-ups, and design ourselves.
-The company is doing very well, we've been getting a lot of projects in retail, office space, data centers.
-We moved to a new but smaller office last year, the CEO bought himself a $10,000 table and apparently gets half a million bonus every year. The principals are so rich they are renovating their expensive homes just because they don't like the way it looks anymore and are driving company BMWs.
-Over the last 2 years there has been about a 15% increase in number of engineers in the office
-Gathering information from friends in the field and coworkers that were not bashful about revealing roughly what they make (I did not forcefully ask them to reveal this info, and i would never use this info as leverage). It would seem i'd need to receive about $4k raises annually to keep up with them.
-I see everywhere articles stating that my field of engineering is one of the top paid professions. It just doesn't seem to add up, as to get to the "expected" levels of pay it would take me like 20 years. But by the time i reach it, inflation would have soared and i wouldn't really be making significantly more than i do now.
As to why i am not continuing my education for a masters, it is because in this particular field i've been told that a Masters does nothing to help, so why should i shell out more time and money for a degree that won't make a difference in my field? And i don't know how a masters would help as there isn't any high level research and development going on here. No re-inventing of the wheel i guess you can say. I know of several engineers at the moment with Masters in Engineering but make the same as their peers with just a Bachelors in Engineering. Its been said that a PE is worth much more, which i am already halfway there.
Maybe i should have said instead "I got this raise, what can i do to make it better next year?" And i reiterate, its not a matter of "im only doing it for the money", i genuinely enjoy this job. Rarely do i wake up feeling like crap for having to go to work. I was hoping for an 8% raise since i have heard from a handful of my coworkers that the first year raise is supposed to be a joke, and that they have gotten better raises with each successive year. I was expecting roughly $3k-$5k increases each year before i level off near the cap of what engineers make. I don't believe it is a matter of my performance/attitude, unless my boss is just straight up lying to my face about his thoughts on me. My other coworkers seem to think i am a good person, and i don't see any reason to believe that they secretly dislike me.