Asking for a Raise
Don’t be like me. Early on in my career, I was naïve. I thought that all my hard work, self-sacrifice, and excellence would speak for itself. I thought that if I worked extra hours, gave 100%, and was a rock star employee, then I would be rewarded. Nope. The reality was harsh. Commonly, I would work myself to the point of extreme exhaustion, and then I was often deeply disappointed or insulted when I was not given a raise. What I didn’t know back then was that if you want a raise, then you have to ask for it. You must be your biggest advocate.
I was recently reminded of this watching the TV show, Dollface. In episode 2 of season one, Madison is alarmed to find out that main character Jules has never asked for a raise. Jules looked horrified at the thought. I was quickly brought back to my early career days and immediately could relate to the feeling! Madison quickly jumped into mentor mode by sharing quality advice, a peep talk, and brilliantly coached Jules through the nuance of how to talk to her boss to ask for a raise.
I wish that I had a friend like Madison coaching me in my twenties. I wondered how many others were just like me? If you don’t have friends or family like Madison to teach you these little nuggets of wisdom that will make all the difference in your careers, then how do you learn them? Well, that’s why I am sharing this information and hope that you can help spread the word!
Know your worth. Be assertive. Never apologize for asking for what you deserve. Important life lessons. I have often wondered why they don’t teach these things in school. I have put together a great list to help from valuable resources, mentors, and my own experience below. So, let’s dive in.
DO YOUR RESEARCH
Step one, check-in with all the webpages that allow you to look up salary ranges – Glassdoor, Salary.com, LinkedIn and understand the averages and ranges for your area. Many of these sites share information on your company as well!
Next, deep-dive your company. From small companies to giant organizations, each can handle pay raises very differently, therefore it is vital to research yours and understand how its internal processes and procedures work along with the timing. As you know, timing is everything! If you wait for your annual review meeting to talk to your boss, most likely you are way too late!
Many companies following a yearly raise system, where managers will need to submit proposals or requests for your raise months in advance. Typically linked to when your company drafts and sets their budget. Some industries may use a bi-yearly system, some may just give each manager a chunk of money to divvy up how they wish and others may have an orgulous approval process up the chain of leadership. Internal processes and protocols will help you determine your timing and what else you might need to have in place to ask for a raise.
A past employer of mine had a rigid system where every year each manager had to rank their employees from 1 to 5, 5 being best. These numbers would determine their raise percentage and bonus structure. The crazy part of their system was that each manager could only have one member of their team scoring a 5. The multitude of issues this creates within an organization, not to mention that it encourages managers not to have teams of multiple “A” players, is a subject for another day!
Keep in mind that large organizations typically budget about 5% or less for salary increases. This is known in the HR industry as the gauge for those that are excelling in their role. 10% increase if you have a promotion. Numbers beyond that may not be possible without a very solid case or unique circumstances.
Lastly, research your company’s general business and financial health. Especially in this tremulous year of COVID, there may be raise freezes on everyone in the company or upcoming layoffs.
TALK TO RECRUITERS
Always important to keep an eye on the job market and entertain a few recruiter calls. Recruiting agencies can be a wealth of great information around industry pay standards. While I would never recommend the, “I need a raise now or I will quit” approach, having another job offer can be an effective way to secure a large raise. Note that it can be extremely risky and may backfire, some in leadership believe that if you were planning to leave now, then you most likely won’t stay long. Best to evaluate this strategy based on the strength of your relationship with your leadership.
The best advice is to engage in a casual conversation with recruiters about position responsibilities and salary range. This may not give you a solid number, can help give you a clearer idea of a range to work with.
TALK TO YOUR FRIENDS, FAMILY, AND COLLEAGUES
My advice. Don’t feel bad talking to friends and family about how much you should be making in your role. I have often wondered if that well-known social rule that you should never talk about money and salaries, was just a little trick that corporate leaders or power-hungry tyrants dreamed up to keep their employees fearful and in the dark? Note that pay secrecy as a workplace policy is illegal.
Talking to other co-workers can be a double-edged sword, so navigate carefully. My advice to would-be to stay general. It doesn’t hurt to ask open-ended questions like, “If you were me, what kind of salary would you expect?” or “Have you ever received a raise higher than 4% here.”
On the contrary, having open and honest conversations has drastically helped the wage equality movement especially in Hollywood, with professional sports teams and the media. Talking about wages and pay gaps can help accelerate progress in other industries too! When it was all behind closed doors it was easy to cover up. Now that people are talking about the wage gap, bringing the drastic difference and clear discrimination to light, it is easier to fight.
SCHEDULE A FACE TO FACE MEETING
Once you have your notes prepared, the next steps are to schedule a meeting with your manager and give them a heads up about what you plan to discuss. Meetings are always the most productive if both are prepared. Don’t spring this on them!
SOME IMPORTANT DOs and DON’Ts:
- Never apologize for asking for what you deserve.
- Be fact-based, clear, and concise.
- Use facts and words like “based on my research.”
- Don’t use personal or emotionally driven words like “I deserve” or “I’ve gone above and beyond.” Accolades and words of praise from others like clients, partners, or other managers are great to include. Be prepared to discuss specific examples of your excellence, achievements, new responsibilities, and/or times you have gone above and beyond.
- Don’t get emotional or mention personal needs.
- Be strong and assertive.
- Use a small number range.
- Don’t do it over email, always schedule a face to face meeting.
- Don’t bring up coworkers’ salaries or focus on the amount of time since your last raise.
- Keep eye contact but look and appear relaxed.
- Embrace silence.
This last one is important. All too often we make our bold statement and then nervously start rambling on and on about why, which often leads to emotional rants about why you deserve it to fill the silence. Embarrassingly, I will admit, I have done this way too many times! Instead, take a deep breath and embrace the long awkward silence that will follow. Silence is important as it allows what you said to be taken in and thought through ensuring a clear-headed reaction. It is also advantageous for you to stop and observe your manager. Take a deep breath and take in the necessary notes for your next course of action or negotiation. (Helpful article)
Silence is a very common and effective method of negotiation. Apple’s Tim Cook and Amazon’s Jeff Bezos have used silence for years. (Check out this interesting article on the subject)
NEGOTIATE
Be prepared, you may hear bad news. Negotiate with open-ended statements like, “Any chance we can discuss a plan to achieve this for the next round?” or “What do I need to do for the future?” Are you willing to get creative with other forms of compensation or perks like more vacation days, flexible schedule, stock options, development funds, travel expenses, reduced travel, gym memberships, etc… The bonus structure is also something to explore as your manager may have more control over this for you.
GAIN CLARITY ON YOUR NEXT STEPS
The best thing that you can do is to leave this conversation armed with a clear list of what you need to do for the next pay raise cycle, yearly reviews, etc… Ask questions like, “How do you see me getting to the next level?” Or “How do you see me adding value to the team?” Ask for their advice and then attentively listen. It is very important not to get discouraged or defensive.
PRACTICE
Finally, the best advice that I have ever received in regards to wage negotiations is to practice. Take the time to plan out what you will say and then actively rehearse it either alone or with a buddy. Out loud. That’s right, standing in front of a mirror or alone in your room, say it all out loud. The key to success in any negotiation is confidence. Taking the time to do this sort of preparation will cement your confidence, helping you stay clear with your goals, say exactly what you want to say, and keep the emotions away. Practice makes perfect!
Remember these types of conversations are hard for everyone. Most people dread negotiations. Make it a priority to be kind and to leave on a positive note. Great advice that I once got from a mentor was, “Stay positive, not pushy.” Prepare a great ending statement that you can say, regardless of your success. As Madison reminded Jules in Dollface,
“It is a quality of successful people to invest in themselves.”
Regardless of your results, remind yourself that you are leaving the conversation with advice, direction, and investment in yourself, all whilst growing and pushing your career in a positive direction.
Some curated Career Tips and Inspiration for you!
Read more about us!
Sign up for our newsletter!
Connect with us:
Instagram
Twitter
Some other helpful resources:
F*ck Being Humble. Why Self-Promotion Isn’t a Dirty Word
by Stef Sword-Williams
Knowing Your Value: Women, Money, and Getting What You’re Worth
by Mika Brzezinski, Coleen Marlo
