Asking for a raise can be like joining the popular group in high school: you know you want to do it, you think you deserve it, but you have no idea how to make it happen. Regardless of how hard you’ve been working, how long you’ve been in the role, or how much of a profit your firm turned in the last quarter, it can often feel like a tentative issue to bring up with your supervisor. However, with the right timing and a little finesse, you can maximise your chances of earning the pay rise you deserve.
To assist in your quest, Insights has compiled a list of tips to bolster your position when negotiating for a raise.
Do your homework
When preparing to ask for a raise, the first thing you should do is research your firm’s compensation and remuneration policies.
“Review the salary guidelines outlined in company policies, employment handbooks, job descriptions and/or websites to determine the pay range for employees in your position,” advised legal careers advisor Sally Kane.
“If compensation information is not published, talk to your human resources department or manager to gain insight into the company’s compensation policies.”
Prepare your argument
Sydney-based HR and recruitment specialist Diarmuid Sexton recommends gathering data to support your case prior to meeting with your superior.
“Every commercial organisation in the world, whether it’s a law firm or retailer, is in the business of making money, and every employee is hired to solve a problem,” Sexton wrote in the Women Lawyers Association of NSW’s blog.
“Knowing what problems you solve and what you have achieved in this area is key to understanding how to negotiate a pay rise. Take time before the meeting to review the projects that you have worked on or initiatives that you have participated in throughout the year. All of these will have a ‘results’ orientation and you need to identify and focus on the commercial outcomes of these projects.
“Measurable figures that have an impact on negotiations are monetary, percentile or numerical values. These highlight the impact you have on the business.”
Consider rewards beyond money
While a bigger paycheque is likely to be the prime target for most lawyers, it can pay to negotiate for alternate methods of compensation.
“The amount of your salary is certainly a good measure,” wrote FindLaw blogger Deanne Katz.
“But better health benefits, lower billable-hour requirements, telecommuting days, and paid parking or transportation are all forms of compensation too. You might find an alternative idea is closer to what you really want. If you can’t get anywhere on your request, you can ask to have your salary reviewed again in six months.”
Don’t push too hard
Angling for a pay rise can certainly require assertiveness – however Delta Partners managing director Anne Winckel warns against issuing any threats or ultimatums, as they may do your career more harm than good.
“I know employers who will take you at your word and sack you,” Winckel said to the Law Society of NSW’s Career Hub.
Similarly, Sexton advises patience during pay negotiations.
“If you don’t ask, you don’t get,” he said.
“That said, it is better to wait for the question of salary to be brought up by your employer rather than raising the matter straight away. Being too keen or being anything other than objective is only likely to bring on a confrontation about the matter. Confrontations rarely end in win-win for both parties.”