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Tips for Negotiating a Compensation Increase
by
Dave Willmer, executive director of Office Team
You’re content with your job, the company you work for and the people you
work with, but there’s one problem: You’re underpaid. You were happy with
your salary a year ago, but since then, your workload has increased and
you’ve yet to see a comparable rise in compensation.
Before you go to your boss demanding a pay increase, consider the current
business climate within your company. No matter how convinced you are that
you deserve a raise, it’s inappropriate to ask for one if your company or
department is undergoing financial difficulties. However, if this is not the
case, there’s a good chance that your manager will be open to your request
for a compensation increase. Here are some steps you can take to obtain the
raise you deserve:
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Gather evidence. Your desire to move into a new condo or your goal of
paying off student loans are not valid reasons for a higher salary. Instead,
you must demonstrate a compelling business reason for being paid more.
Document all your responsibilities and accomplishments to date, focusing
specifically on how your efforts have helped the company achieve its
objectives. For example, you might have introduced a new method for
processing invoices that not only increased efficiency, but saved the
company money. Gathering concrete data, and being able to present this
information in an organized manner, is critical to positioning yourself as a
valuable asset to your employer.
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Research the going rate. It’s always a good idea to investigate what
others in your area and with your qualifications are being paid before
approaching your boss for a raise. Online services, such as PayScale.com and
the U.S. Department of Labor’s Occupational Outlook Handbook are excellent
sources. Complimentary publications, like the OfficeTeam Salary Guide, also
provide compensation figures for a variety of administrative positions.
Estimating your worth on the open market will ensure you don’t under- or
oversell your services.
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Build your case over time. Despite his or her best intentions, your
boss may not be aware of the many projects with which you’re involved. To
prevent your achievements from being overlooked, consider providing your
manager with a weekly status report that summarizes the assignments you’re
working on and have recently completed.
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Time it right. While the most logical time to discuss a raise is
during your performance review, it could be advantageous to speak with your
supervisor about the issue before your next evaluation. For example, you
might broach the subject with your boss after you’ve successfully completed
a major project. Just be sure to schedule the meeting at a time when you
know he or she won’t be overwhelmed with deadlines.
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Prepare a ‘Plan B.’ If a pay raise is not in your employer’s budget,
consider negotiating other benefits, such as more vacation time, a flexible
schedule or a larger performance-based bonus. If these requests are denied,
ask your boss how to best position yourself for a future raise and arrange a
date for a follow-up meeting to discuss your progress toward this goal.
Like any negotiation, securing a raise requires preparation and finesse.
Taking the time and effort to craft a compelling case and make your value to
the company clear will help you increase your chances of getting paid what
you’re worth.
ABOUT THE AUTHOR:
Dave Willmer is executive director of OfficeTeam, the nation’s leading staffing service specializing in the temporary placement of highly skilled administrative and office support professionals. OfficeTeam has more than 300 locations worldwide and offers online job search services at
www.officeteam.com.
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