This is a guest post from an up and coming writer named Peggy Hill. I hope you enjoy it as much as I do.
A bright young woman sits across from me over dinner expressing disbelief. Her annual raise was less than expected “once again”.
I ask, “What exactly did you expect?”
“That my boss would give me what I deserve.”
“What do you deserve?”
She sits and stares at me…down at her plate…back at me.
After managing and leading people for over twenty years, one of the lessons I’ve learned is this: we can’t get what we think we deserve if we don’t even know what it looks like! This isn’t the voice of superiority; it’s the voice of experience. Early in my career, I spent years working long hours, sacrificing balance and days off, and doing it for less: you don’t have to!
On the issue of money and our careers: we’ve all read the statistics. Men make more than women. But, I’m not sure we’ve all read the fine print: the primary reason men make more than women is because men don’t hesitate to ask for more. As I told my dear friend over dinner, know what you want, weigh that figure against what’s reasonable and ask for it.
The best way to demystify the process is to do your homework; don’t expect your boss or anyone else to do it for you. It seems natural to research the market value of a car or a home we want to buy or sell, but when it comes to ourselves; we’re often all too willing to give someone else the reins. Then, we sit back and nurse our disappointment when that person doesn’t come through.
It may seem overwhelming, but if we break the process down into a few key data points – it’s very doable:
- What’s the salary range for your position in a company your size? Your geographical region? Your industry? You can find most of this information online.
- How many years’ experience do you have?
- Do you have a relevant degree?
- What’s your company’s total benefit package and how does that compare to other companies?
- What have you done in your position to increase the company’s profitability? Efficiency? Brand?
- Know what you want and what you’d be willing to settle for.
This list isn’t all-inclusive, but it’s a strong start. Walk into the meeting with all of your documentation and an additional set for your boss. At the appropriate time, walk through your findings and ask for the raise that you believe is fair and warranted. Sell yourself – there’s no shame in it.
And – forget what your mother told you. It does hurt to ask. It takes work to think about what you want, to do the research and to present your case. There’s a risk you may be told “no”. It’s much less painful not to ask, and the outcome is risk-free and guaranteed.
It’s your life. You choose.
