Discussing Pay Compensation

Problem

The conversation around earning more money is generally an awkward one. You do not want to say flat out that you need a raise because that can come off as very aggressive for some people. The conversation needs to be based on honest feelings and factual evidence that demonstrate your unrest with the current situation.

Actions taken

• If you are not sure where compensation authority descends from in your company, figure that out because that is where the conversation will need to start. More often than not, it is your manager who usually does your reviews and sets compensation as opposed to the VP.
• The objective is to put some pressure on your manager to fight for you compensation wise. Illustrate, with a list of accomplishments, that your performance is exemplary and that you are looking for more compensation.
• Look at some market compensations and show competing salaries. If you are being paid below salary, show that. If you are being paid at average, demonstrate that you are an above average worker and suggest that your compensation should be raised accordingly.
• If you have received other offers, be honest about them. Speak with your superior about how you still like working here, the culture, the team that you have built, and that you do not want to leave. However, money is important and these other offers are better. Get him to understand that you would like to stay, but the compensation needs to be right.

Lessons learned

• Nobody can fault you for knowing your worth and laying out the facts about that. If you do not make noise, your superiors may not spend as much of their political capital going to bat for you as you would like.
• Let your manager know that you really value compensation, because it may be something he does not know about you, due to the fact that not everyone values that in the same respect.