The beginning of the year always brings reflection from the industry on what's come before and the state of the marketplace.
If a salary survey suggests that you might be underpaid, the next step would be to gather more information to confirm this suspicion and to determine what steps you can take to address the situation.
Here are some steps you can take:
Verify the information: Verify the accuracy of the salary survey data by checking its source, sample size, and methodology. Check if the survey accounts for differences in experience, education, and location.
Research your position: Conduct your own research to determine the market rate for your position. Look for job postings for similar positions, talk to recruiters or colleagues, and check out industry associations to see if they have salary data for your position.
Consider your performance: Evaluate your performance in your current role. If you are performing well and have taken on additional responsibilities or achieved significant accomplishments, this could be a basis for requesting a salary increase.
Be prepared to make your case with solid evidence and maintain a positive and respectful attitude throughout the process.
Talk to your manager: Schedule a meeting with your manager to discuss your salary concerns. Bring the research you have conducted and be prepared to make a case for why you believe you are underpaid.
Be open to negotiations: Be open to negotiating with your employer. If they cannot offer an immediate salary increase, ask for other forms of compensation such as stock options, additional vacation time, or a performance-based bonus.
Consider other options: If your employer is not willing to address your salary concerns, you may need to consider other options, such as looking for a new job or negotiating a higher salary at a new company.
Remember to approach the situation professionally and tactfully. Be prepared to make your case with solid evidence and maintain a positive and respectful attitude throughout the process.
If you need any help or advice, get in touch with POET today.
You can book a call in any time, here
You can also find out more about FMCG salaries and what we found in 2022 here
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