It’s that time again – sitting down with you manager to discuss a salary increase… should be easy enough.
"Rarely do people get rewarded for just being a good egg. It’s not personal if you don’t get what you want salary-wise and it will boil down to inputs vs outputs for the business".
1. Prepare
If you’ve got a good working relationship with your manager you’ll know how you’ve done this last few months because expectations from both sides will have been communicated effectively.
In theory, you shouldn’t need to prove yourself at the negotiating table.
If you do feel you need to reiterate your value to your team and the wider business, outline 3-4 tangible inputs that you’ve made during the last 12 months: that project you led which delivered £1m of incremental growth or the agency you hired through a pitch process which saved the company thousands in costs.
2. Know the Market
Enter any salary negotiation as informed as possible. Your strongest ally here is the information available to you about your industry, your job role and what’s happening in the employment market.
To get the 2022 POET Salary Survey, contact us here
You might find you’re underpaid.
You might be overpaid!
You might also want to weigh up everything as a whole: salary, perks, personal fulfilment, career development opportunities available to you etc etc.
It’s never advisable to hold your employer to ransom just because you’ve heard another company pays more: certain businesses are famed for paying over the odds to get and keep employees on board. They’re also the companies with perhaps the most distinct and somewhat divisive cultures.
You likely know the ones we’re talking about but if you need more information on company cultures, most decent FMCG recruiters will know enough to inform you.
3. Practice
Don’t go into a pay negotiation cold. Run your ‘pitch’ past your other half, a mentor or someone you trust.
Even if they’re alien to what you do for a living, they’ll be able to help you make your case more concise, effective and human.
4. It’s not personal
Don’t focus on what you want, focus on your value.
Rarely do people get rewarded for just being a good egg. It’s not personal if you don’t get what you want salary-wise and it will boil down to inputs vs outputs for the business.
The world’s a strange place at the moment and life isn’t getting any more affordable. That’s the case for some companies too – you may not have visibility of the pressures ‘up the tree’ and the fact that, whilst not likely to go bankrupt, your company’s Exec team is in the midst of trying to reduce or balance costs to preserve the future for you and those around you.
If they can’t afford to pay your more now, by securing the company long term, they will be able to in future hopefully.
5. Know When To Stop
Be graceful.
If your manager can explain why you’re not getting a hike in pay then take that feedback on board.
If it’s impossible to get your pay rise consider three things:
1. Is work enjoyable and do the wider perks make up for the lack of a pay rise?
2. Do I really deserve a pay rise now and, if not, how can I make sure I get one soon?
3. Would leaving your company provide you with what you need instead?
If you feel you need advice on where you stand career-wise then get in touch with POET here. We’d love to help.
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