5 Tips on Knowing What You’re Worth and Asking for It

Conversations about salary negotiations, raises, and compensation structures – we get that they can be uncomfortable and we’re on a mission to turn that around.

 

We took this topic to the online streets to see what managers and employees alike have to share about their experiences and tips around pay.

 

From our experience working with organizations, here are 4 questions that get asked around pay and the tips that go along with them:

 

Question: I’ve been made an offer for a job and I want to negotiate my salary. How do I bring this up?

 

Tip 1: Do your research – know the range.

 

“Then exceed the range.”

 

If you don’t know Bozoma Saint John, you should. She’s the Chief Brand Officer at Uber and she’s on a mission to re-craft their story and be a face of representation for people of colour and women. She also has some great advice when it comes to salary negotiations.

 

Yes to asking for what you want.

Yes to knowing your worth.

 

Tip 2: Give your number first – lay out your expectations clearly from the get-go.

 

Don’t wait until the moment you get an offer to bring up salary. Why? Because bringing up your number first earlier on allows you to set the starting number that gets negotiated. Bringing salary expectations up at the beginning of the process leaves no room for surprises or disappointing numbers when the offer is made.

 

Other things to keep in mind in addition to salary: Work culture and people you’re working with, benefits and perks that matter to you, job autonomy, flexible working schedules, and loving what you do, where you’re doing it, and who it’s with.

 

Question: I want to ask for a raise but I don’t know what to ask for. What do I do?

 

Tip 3: Ask yourself – if someone was being hired into my role, what would they make?

 

And then go a little higher than that. This gives you a little wiggle room for discussion and negotiation. Keep in mind: you’re not inconveniencing your manager or company by asking for a raise. They want to keep great people around and will most likely work with you to build a structure where everyone is happy and you feel heard.

 

Question: I’ve been working really hard and believe that I deserve a promotion but I haven’t received one yet. How should I approach this conversation with my manager?

 

Tip 4: Be upfront and ask questions.

 

You are the driver of your career. Book a time with your manager and have an open conversation about why you haven’t received a promotion and what your experience has been like. There’s no point in assuming that you already know why you haven’t gotten a promotion because you can’t know until you ask.

 

Here are some questions to get you started in your conversation:

 

  • What are my growth opportunities at this company?
  • How can we create a structure where we are both clear on my growth path and what I need to reach in order to grow with my compensation and role?
  • Currently, how I am I performing and what do I need to work on in order to grow in my role here?

 

Question: How do I know if my employee is ready for a promotion?

 

Tip 5: Don’t make promises – create a clear structure instead.

 

When creating a compensation and growth structure for your people, ask yourself these questions:

 

  • In addition to your employee’s performance in their role, how are they contributing to the business and people within the organization?
  • What goals (professional and personal) does your employee have?
  • Is there a role available for your employee to be promoted into? If not, how else can they grow in their career and compensation at your company?

 

Not getting a promotion and vice versa should never be a surprise for your employee. After creating a structure that you’re both clear on, have regular feedback sessions with open conversations about their performance and their feedback to you as a manager. Remember: Growth goes both ways.

When it comes to convos about pay, the best route is always the open route. Whether you’re the one giving or getting the raise, accepting or making the job offer, clarity is key.

 

Are you a new manager and don’t know where to start when it comes to open conversations with your people? We can help! Connect with us and let’s see how we can get those conversations going.

We’d like to give a huge thank you to Sarah Blackmore, Senior Director, People at Eventbase and Rob Pintwala, Sales at Chatkit for contributing their tips to this post!

 

Meet Matt. He is bold. He is always up for the adventure. He is your biggest fan.

Category
Leadership Tips, Manager Training
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