The Four P’s of ASKING for and GETTING a PAY increase
Despite what people say about it not being all about the money, sometimes it is. For most of us we spend more time working than we do with our family. It’s important to feel like you being fairly paid for the work you do. If you don’t you have two choices; find another job or ask for a Pay Increase. Before you start looking for a job it’s always best to confirm that your issue can’t be solved by raising it with your company. If pay is your primary motivator for job hunting ALWAYS ASK FOR A PAY INCREASE FIRST!
Below you will see a simple outline of the steps you can take to ASK for and GET the increase you want. If you prefer to listen to or watch to better understand the content check out the Med Device Talent YouTube and or Podcast on Getting Paid!
There are four steps to addressing salary issues. I call them the four P’s. Plan, Present, Partner and Perform. Let’s explore each is a bit greater detail.
Plan – In the planning phase you need to gather your data and plan how you will execute this crucial conversation
Do some research – not just on line salary calculators
Talk to co-workers ( Yes HR will hate this)
Speak to 1-2 headhunters they always know the market- ask what fair pay is for your role
Prepare a discussion guide or plan
Like all crucial conversations you should preplan
What you will say and how you will say it
Selling points
Market data
Why you create value
Present – This is the step where you actually discuss your issue with your boss. Make sure you follow your plan.
First, assess how your boss feels about your performance
If you’re not a star performer you’re not getting that raise
If you are a top having them talk to you about how great you are will help set the stage
Talk about your how your pay makes you feel- how you feel is less combative and opens the other party up to a more partnering approach
Don’t make it personal, put the issue on the table don’t make it’s your issue of your bosses’ issue
Partner - During this phase you need to move from complaining about your pay to partnering with your boss to understand and solve the issue.
Once you identify the issue seek to understand if and how your pay can be resolved
Be patient- being underpaid takes a while to develop- don’t expect your boss to fix years of falling behind the market in one week.
The important thing is to enlist your boss in understanding your pay is important to you and working to get approvals in the shirt and long term to keep you moving forward.
Perform – Without performance people will not want to give you a pay increase
You must establish a reputation as a top perfumer and continue to deliver on your promise
