"Making The Case For a Raise" - 7/18/18 Edition
Stephen Says Column
Dear Stephen:
I am a project manager at a major dealer in a major market. I started here over five years ago at a substantial base increase from my past job. I get modest bonuses based on my workload but have yet to see any real increase in my base salary. I love my job, my company and the people that I work with. I get an annual review each year which is followed by a minimal increase in pay. Every time this happens my boss gives me the same tired argument: “There is no inflation.” I do not want to play games or threaten to leave, that’s just not who I am. I simply want an increase in the money I make. Our company is doing well, and I know my work is a contributing factor to this success. How
do I honestly convey this to my boss without being a jerk? I deserve at least 10 percent more than I am making, and I would like to make that a reality.
Cut Me a Bigger Check
Dear Bigger Check,
You answered the question for yourself. It is very important for you to be able to articulate to management how you are personally contributing to your company’s bottom line — that, right there, is the secret. Mind you, if you are in sales, simply rattling off your sales numbers as an indication of your direct contribution to increased revenue is not what I mean. Regardless of your role, however, your value needs to be something that sets you apart, not merely a description of what you do. There is a sports metaphor that fits here. One of the new baseball statistics that has gained prominence since the sport’s turn to analytics is called “Wins Above Replacement” or WAR. This metric tries to quantify precisely how many wins any given player is worth to the team above the typical replacement player. This is how you should be thinking. How much more value do you add to your company above the person who would do the job if you weren’t there, and how is it that you add that value? It could be you’re hyper productive on deadline or that you’re willing to work long hours, which makes your employer look good in the eyes of your customer. Maybe you are more frugal on expenses than most or more accurate with following through on company protocol. There are many ways to be a valuable employee, but you have to know what it is that makes you valuable.
You happen to be a project manager, but I am sure a bunch of my readers here are in sales. I have noticed many dealers and independent rep groups do not even bother to conduct annual employee reviews. They simply take the position if you want to make more money, you should make more sales. However, as a result of this policy, sales people rarely receive an increase in their base salaries. Asking for an annual review in these situations can be tough, and even when it works and you get a raise, it can leave you on thin ice with your boss. If you do it the right way, though, there shouldn’t be much cause for concern.
Here is how to ask for a raise: I recommend you schedule a specific time and date to talk face-to-face with your manager and make sure they know what the conversation is about — it can be as simple as saying you want to talk about your growth and compensation. When this meeting takes place, come ready to talk in detail about how you
add value and be prepared with notes and a list of your accomplishments. You can even leave a written copy for your manager. Be explicit. If profit margins increased during your tenure, by how much and what did you have to do with it? If a customer wrote a nice email thanking you for your service to them, include a copy and ex- plain what went right. Imagine yourself like a lawyer in court making your own case. Bring evidence and then explain its significance.
If you have a formal review process already established at your company, I recommend you bring an up-to-date resume to the review with you. Often, the person conducting your review is not the individual that hired you. They may not understand the extent of your career experience or education. If nothing else, seeing an updated resume in your hand will give this manager a jolt and let them know that you’re taking your career aspirations seriously.
I’ll add this is where loving your job can help. Flattery will get you far. Tell them how much you enjoy the job, and push back if they try to tell you inflation is nonsense. Believe me your boss knows about inflation. Their rent increases 7 percent a year, too. If you can make your boss understand you care about the company and want to see it succeed, but that you just need a little more help, they should get the message. Nice people usu- ally get raises because they ask for them nicely.
And finally, I always recommend giving a specific percentage by which you’d like to see your pay increase. If you’re feeling really ambitious, start at 15 percent — go high and the come down from there!
Good Luck,
Stephen
You can send your workplace questions to Stephen at: StephenSays@bellow.press
Questions selected to be answered, will appear in this column. Please use the Subject: Stephen Says for all emails. Stephen Viscusi is a bestselling author, television
personality, and CEO of The Viscusi Group, global executive recruiters located in New York. Follow Stephen on Twitter @stephenviscusi, Like Stephen on Facebook; and follow him on LinkedIn.
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