Raise Up: How To Get The Salary You Deserve

You're smart, dedicated, and a great teammate. You meet deadlines, put in extra hours, and even buy donuts for the weekly staff meetings! So why have you not gotten that pay increase you deserve? Let me pose a dumb question. Have you asked for one? Financial experts will tell you companies make money by providing a good or service... not giving away unsolicited money. If you feel you're due for a little (or a lot) more compensation, here are my recommendations for getting what you desire in a professional manner.

State Your Case

Even the best leader may recognize your value, but he or she doesn't necessarily know everything you do for the team. Before approaching your leader for a raise, document the reasons why. Demonstrate your worth by providing examples of going above and beyond, bringing in new clients, completing a successful project, etc. Be fact-based as much as possible, e.g. "I completed Project X a week early and $10,000 under budget" vs. "I'm a great project manager". While loyalty and experience certainly plays in your favor, don't tell your leader you deserve a raise simply because you've been there for 5 years. To be frank, they don't care about how long you've been doing your job if you're not living up to their expectations. Many larger companies have set pay grades/scales, so understand where you fit on that scale; if you're on the lower end, it may be easier to justify an increase. After providing your logic, present a specific amount ($ or % increase) you're expecting. Try to do this in-person, but have it written up as a formal proposal for your leader to review during and after your meeting. If you wish, I will send you a basic template if you send me a message in my Ask Me! section of my site.

Timing Is Everything

Choosing the right time to ask for a pay increase is critical. How about now, during COVID-19? If your company is struggling, wait for sunnier days. Asking at the wrong time will not only hurt your chances of getting a raise, but also reflect poor judgment by not understanding the overall financial state or proper protocols of the company. If you have regular performance reviews, especially if they're associated with pay reviews, this is the appropriate time to make your request known. Don't wait if the decision is already made and the meeting is simply to communicate the decision - try to set up a short meeting with your leader a week or two in advance to present your justification. If you don't have regular reviews, and it's been a while since you've received an increase, find a good time to meet with your leader - not Friday afternoon at 4:30!

The absolute best time to negotiate a salary is when you receive a job offer. This can be awkward and even nerve-racking, but it will pay off. Remember, you are being hired because they like you! I recommend having a salary in mind upfront, and waiting to see what the company offers. It's okay to express some excitement, but don't act like you're advancing to the next round of American Idol. Remember, this is a negotiation. Thank them for the offer and ask for some time to consider it (no more than overnight). Take a deep breath, and discuss the offer with loved ones. What's a reasonable counter-offer? That's really up to you, but in my mind, take into consideration the job responsibilities, your current compensation, and any personal impacts (relocating?). Remember salary is only part of the offer, so consider the other benefits included (pension, 401(k) match, insurance, vacation, etc.). My experience is the salary has some flexibility, but other benefits are usually set by corporate policy. Asking for changes to something other than salary probably won't fly in a large corporation, but may be an option for a smaller company. If the offer was made verbally or in writing, respond in kind, and do so in a professional, respectful manner. Either way, don't expect an immediate answer, as the hiring leader may need to get approval from his/her leader and HR. Now, the hard part: waiting. Doubt may creep in - did I ask for too much, or the scariest one... will they pull the offer? Having hired several people with multiple organizations, I can tell you it's highly unlikely a hiring leader will pull an offer just for countering. As long as your counter is reasonable, and you ask in a respectful manner, they should at least contemplate a response. In fact, I actually respect job candidates who negotiate their salary, as it shows they value what they bring to the table. While I have successfully negotiated a higher salary many times in my career, only once have I had an offer rescinded, and it was the best thing that could have happened. I'm saving that story for another blog post I will do on the interview process. Trust me, it's pretty wild.

Go Time

Let's start with the worst-case scenario. If you don't get what you request, you have a decision to make. Trust that, if your request was reasonable, you deserve better. You now have a couple of options. If your leader didn't provide any justification, you can ask why your request was denied and get some guidance on what you need to do in order to earn the salary you requested. You can choose to follow that path - if so, I recommend documenting your progress towards meeting your leader's recommendations to get an increase. If you don't agree with the decision or the direction you need to take to be reconsidered, you really have one choice. Freshen up the resume, book that Glamour Shots appointment for a new LinkedIn profile pic, and start looking for another position inside or outside the company. You owe it to yourself to maximize your earning potential and be rewarded for your hard work! Take ownership of your employment situation - it's a powerful feeling to control your future. How about the best-case scenario? You get the compensation you requested. Your leader and company value your contributions and reward you in kind. You may be asked to take on more, and you shouldn't try negotiating again for a while, but feel proud of yourself for standing up to get what you deserve.

It takes courage to approach your employer about compensation. Many are too intimidated by the process or fear adverse consequences and just accept what's given to them. I challenge you to assess your worth and, if you're not satisfied with your pay, find the right time to make your request. When you do, read the room. How does your leader respond? Do you need to move on? You will know the right choice. And if you get that bump in pay, remember your friend Craig gets half!