Planning for a job search takes a great deal of time and effort, however the least amount of preparation often goes into one of the most important factors associated with employment: compensation issues.
Salary discussions can be intense, especially when the stakes are high and the job market is crowded. Learning how to present your value in a clear and concise way will help pave the road to a salary increase. Whether you are job searching or staying in your current job, increasing your salary begins with planning and researching.
Here are some steps you can take right now to start working toward a salary increase.
The first step is to improve your visibility in your department or company by making an effort to stay in contact with decision-makers while doing your job well. Project a positive image. Volunteer to be on committees where you can build relationships on that common ground. Maintain communication with your boss by asking how you can help, discussing projects and sharing information. Don’t wait until you must communicate with your boss, to do so. Developing a good working relationship with your boss is a part of career development.
The second step to increasing your salary is to research the market and make sure your compensation is up to par with your current role, or if you’re job searching, learn the going rate for the job you’re seeking. What you made in the past really isn’t relevant to a salary discussion for a new position. The focus should be on the current market rate for your position. Compensation websites can offer a broad view on the current market rate for a position, but take your research a step further and get more information from your contacts in the field.
The third step you can take is to start a career journal that documents your accomplishments. This serves two purposes: it supports a salary increase and it keeps your resume updated. Record your achievements by citing examples of how you increased productivity, reduced expenses for your employer or created new systems. The more you can quantify your accomplishments, the more memorable they become when talking about salary increases.
The fourth step is go back to school and take classes that will add to your degree or certification. Staying current in your field by continuing education usually pays off when discussing salary issues. Employers are interested in people who display the initiative to improve their knowledge and skill sets.
Finally, if you feel your career has been stagnating and there is not a clear upward path, consider starting a job search. A new job might be just what you need to increase your compensation. As always, take the time to do your due diligence, and if a job sounds too good to be true, or the pay seems too high, stop and think before accepting.
While not everyone wants a promotion, people do want to be rewarded for a job well done. Only you can know when it’s time to move on.
How have you negotiated a salary increase?
