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A new hire with less responsibility makes 40% more in salary than me... how should I handle?

I've been working at a pretty big company for 1 year. I've consistently worked 50-70 hour weeks and have stood out as one of the top people in our department. Recently, they changed the job description and forced half of us to move into a different role. I was allowed to keep my current position because of my performance and "skill set". They hired 20 new people and although I'm not 100% sure, 4 or 5 people have come to me and told me that the new hires are making 40% more than everyone else. I don't know if this is true or not but have heard it (unsolicited) from a number of people. There are also rumors going around that there is a salary bump for the rest of us that we were supposed to know about, but has not been communicated to us. I want to say something, because I contributed A LOT to this company's growth and am considered a top performer. I trained many of the new hires and paid my dues working 50-70 hour weeks with no overtime pay (the hours have not been this bad lately, though). Additionally, many people within my department are very upset and its affecting performance. People are talking about finding new jobs. I'm not sure how to handle it, but I want to talk to my manager and tell her that all of these rumors are going around and its affecting everybody negatively and many people are feeling demoralized. I'm thinking of going to her and showing her all the contributions I have made throughout this year to demonstrate that I deserve a salary bump (not a 3% performance raise, but to be brought up to the same range as the new hires). I was told that she personally acknowledged that they make more, but the actual dollar figure was not confirmed by her. I'm worried that I'm going to be reprimanded for discussing salary, but its honestly not something that I sought out. I knew they were coming in higher, but ignored it until people kept telling me what they'd heard. Now I can't ignore it because I feel incredibly undervalued if what they're saying is true. Not only that, its creating a toxic work environment. They might have slightly more experience (a year or two) but not direct industry experience and not enough to make up for 40% more salary.

Asked By: Leave Me Alone - 11/7/2011
Best Answer - Chosen by Asker
There are numerous scenarios that explain this but normally any business is not going give a 40% raises to their entire workforce so what you are really trying to accomplish is a pay cut for the new hire. View this an an opportunity to get a raise when you ask for one or at review time. If the new hires are less... More
Answered By: danieltlee1 - 11/7/2011
Additional Answers (1)
I would not advise asking for a salary bump at the same time you're complaining about the new hires' salaries. That won't go over well... More
Answered By: raina_vissora - 11/7/2011
 
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