Need a raise, how to ask?

I want to know what I can do to be inline with the rest of the industry. I think it makes sense to propose this as a question to my boss(es) after highlighting my accomplishments, etc.

At least, if they respond: "You'll never make that much money" - then I know where I stand. And this way, they know that I'm currently sizing myself up to the rest of the averages out there.

And what do you think motivates people to work for you? Why not pay them nothing and only take people who are willing to work for nothing?

If your SaaS provider raises prices do you pay to move to a new SaaS provider when it is cheaper to just pay the new rate vs paying to move to a new provider? Why do you think your employees should be held to a different standard from any other vendor you do business with?

You manage a team to get work done. If someone is too expensive compared to your alternatives then sure let them go. Letting them go when they offer what you want at a price you are willing to pay is just crippling yourself for no reason. Even if you only retain someone for an extra year or two that can be a big chunk of their total tenure and that further reduces hiring and on boarding costs.

I use hiring info to keep abreast of salaries: if candidates seem to need more than I had planned to offer then I level the appropriate employees up as well. I.e. you don't have to try to get a new job just to get a raise. It means people are paid fairly (e.g. your company's cap on raises is stupid).

It's awesome that you do this even if it's not economically rational. I think you are a unicorn both in that you do this and that you manage somewhere that allows you to have that policy.

However hidden in that statement is "the appropriate employees." Odds are all your inappropriate employees are going to have to get an outside offer. If that churn is cheaper than the alternative then sure it's totally rational.

There is only "Holy crap, we cannot afford to lose John, we better give him a raise NOW"

And by "appropriate people" I mean if I discover our analog EEs are being paid less than market I bring them up; just because front end javascript jockeys are in demand and their price is going up doesn't imply that marketing people are also underpaid.

You appear from this one message to be extremely cynical. I'm sorry.

How to (successfully) ask for a raise: https://generalassemb.ly/blog/how-to-successfully-ask-for-a-...

In your paragraph that starts with "How can I go about asking for a raise?", I think your plan is very good. Estimate your market value, adjust that market value for the specific value you add to your company (accounting for things like your statement that "...it'd still be cheaper for the company to give me a hefty raise rather than finding someone...") and make that your goal.

List the additional things you're doing to add value to the company since your current salary was set (you've basically already done this in your post here).

Find examples of praise that you've gotten from colleagues. Bundle that all up and there's your case for a raise. I recommend talking to your manager about it (requesting your raise in a 1-on-1), then following up with a written request via email so it can be circulated to the deciders.

That's about the best you can do as far as making a case for a raise. The real question is whether you'll go elsewhere if you determine that you're significantly under-paid and your company can't adjust your salary to reflect the value you add there. And of course that's something you'll have to determine on your own, but looking elsewhere (Google) is a good start.

Good luck!