It’s painful to be in a job that you genuinely like, but know that you’re significantly underpaid relative to your peers within the organization, or the workforce in general. You may feel like it’s a sacrifice you have to pay in order to keep a job you like, but at the end of the day it affects your relationships at work and leaves you questioning your future with the company. Being underpaid can affect your own perception about the value of your work, and it certainly affects the perception of others. After all, if you’re really good at what you do wouldn’t someone have offered you more money by now? Isn’t that the way the world works?
They’re Not Going To Make It Right
Here at Catch Your Big Break, our clients tell all kinds of stories about bosses and HR departments who make promises, but don’t keep them. A couple of young men were each given good starting salaries to begin with, and told that they’d get rewarded for accomplishing certain milestones. Later, they both got passed over for raises, and found their wages slipping back into an average range (or worse!) even though they were top performers. A young lady was promised a formal performance review and accompanying raise, but months later still hadn’t seen any action from management to make it happen. Our experience has shown us that many managers and HR departments may mean well (and that’s debatable), but they don’t often get the job done unless a little leverage is applied. They take the perspective that a worker is likely to stay put as long as they’re getting a decent wage, and as a result they don’t compensate top performers as well as they should. Have you been the victim of a management team that doesn’t keep its promises?
Step #1 in negotiating better compensation is to identify places you can add more value. Ultimately, this is where countless workers fail in their attempts to negotiate higher pay. They think that their years of experience with the company or the fact that they do a good job should warrant a higher salary. In reality, there’s almost always someone willing to do your job cheaper. Raises come to those who find ways to add more value to their companies – to those who learn to do higher value work. Our coaches will work with you to identify ways you can become more valuable to your employer, and allow you to position yourself for a significant raise.
Step #2 is to test your newfound value in the open market. While many people want to use www.salary.com and other websites to identify how much they should be making, any numbers you obtain from these websites are largely theoretical and may not apply in your personal situation. The moment you receive an offer from another company, however, the issue comes sharply into focus. You now have the opportunity to negotiate your salary not once, but twice! Your current company is forced to decide how much they’re willing to pay to keep you, and your new company must decide how much they’ll pay to lure you away.
These two steps have been explained using broad brush-strokes. They represent strategies that have been used by coaching clients numerous times, with positive results. Our coaches can provide a level of tactical detail so you can take one action step after another and realize the salary goals you have in your mind.
Your Next Steps
To learn specific tactics you can implement today that will increase your odds of landing a pay raise, simply fill out the contact form in the top right corner of this page or click here.
You can tell us all about your current compensation, ask all the questions that are on your mind, and get straight-forward answers that will move you forward. What’s more, you’ll learn how to take the right steps during the salary negotiation process to insure your ultimate success.
Or click here to find out about an upcoming “Career Strategy & Job Search Webinar” where you’ll have group question and answer time. You’ll be able to get your own answers, and hear others get coached about negotiation skills that you may need to learn as well.