What Is The Best Approach to Request/Discuss an Increase In Salary?
Dear Nikki, what is the best approach to request/discuss an increase in salary?
Nikki: Comp is a touchy and not so fun subject for companies but it’s very necessary! Keep in mind that this approach will be a marathon, not a sprint. First, do some market research of like positions within your industry and comparable to your role (responsibilities, duties etc). You can go to Payscale, for example, type in your information along with what your company offers as benefits. Benefits are also a form of your current compensation that’s factored in. You should receive some analysis of what the market is doing/offering people within your role. Print out all comparative data you can find.
Write up what you think your worth is and tie it back to revenue that you’re bringing in and/or saving the firm. Every person, either brings in or saves a firm money.
Know your firms financial cycle. Most firms budget for pay increases and bonuses around the midyear and approaching the year end. Know the key players that you’ll be approaching and the overall sentiment of the firm on when to approach.
You should be keeping track of all of your accomplishments throughout the year. If you’re not already, meet with your manager on a regular basis to discuss your performance, their expectations of you and things you may need to work on.
Basically, bring some receipts and expect honest feedback that is not based on emotional. Even though your emotional about your comp, the company is not. This is a business for them.
If you feel like you’re being treated differently after this conversation, start documenting the interactions. It is illegal to discriminate against someone based on this. It is called employer retaliation.
Images credited to Pixabay
Your curly girl manager, just trying to live her happiest life!
Wife, new mom, member of Delta Sigma Theta Sorority, Inc. with 11 years industry experience, 6 years of management experience. Manager a team of men in a male dominant industry, while being the only woman on the team. DIY fashion blogger, a self taught seamstress. Owner/Creator of a monthly subscription service, SewConscious.com.
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