How do I prepare for a compensation discussion?

[Anonymous]

I recently asked to look at pay and my supervisor is understanding: he scheduled a meeting with us and the director of my department early next week. The director provided the pay range - he was my previous supervisor (got promoted) and we have a good relationship - so I know where I stand.

How do I approach the conservation? What do I need to have prepared? My presumption is that by setting the meeting they’re prepared to give me something, but I’ve never done this before (I’m early in my career.)

[Anonymous]

List out the reasons you deserve a salary adjustment (versus just a standard COL raise). Have you taken on additional responsibilities in the past year? Created significant ROI for a particular project? Completed education that makes you more valuable to the company?

[Anonymous]

They already know from HR and Head of Dept what they can and cannot do in terms of adjustment. Be prepared to advocate for yourself, be professional about it, and list your contributions, years experience, track record etc. Listen carefully to their response and message - How much do they really want to keep you, How much do they see you as a future talent for the organization, How much are they willing to go to bat for you in a second round. Be prepared for one of two eventualities - the first one is, they give you what you were hoping for, and everyone is happy. The second one is, they can give you some or a little, but not all of what you were seeking, they may promise to ‘look at things’ next year or some soft promise. If this happens, decide if you want to stay or start job searching for better pay.

[Anonymous]

OP here with an update: the conversation was very meh. Despite receiving nothing but praise from my supervisor, his supervisor, and the business partner I support, they expressed that raises are incremental at best. Supervisor’s supervisor said he’ll go to bat for me in December, when employees are evaluated annually and raises are considered, but my takeaway was that I shouldn’t expect much.

It’s discouraging to know I’m being paid at a lower/similar rate to recent undergrad graduates, as I bring a history of business involvement, an advanced degree, and consistently perform at a high level. I think it’s time for me to start looking.

[Anonymous]

Yes, you should 100% be job hunting. My experience is that companies always undervalued existing talent and the only way get career progression is to change companies.

[Anonymous]

Anonymous wrote:Yes, you should 100% be job hunting. My experience is that companies always undervalued existing talent and the only way get career progression is to change companies.

This is my experience too but there are always exceptions and it is always best to put your cards on the table and advocate for yourself. Then when and if you leave you leave knowing that you made an effort to communicate what you needed to stay. For most what we would have needed to stay is less than what we get when we switch positions.

[Anonymous]

Anonymous wrote:OP here with an update: the conversation was very meh. Despite receiving nothing but praise from my supervisor, his supervisor, and the business partner I support, they expressed that raises are incremental at best. Supervisor’s supervisor said he’ll go to bat for me in December, when employees are evaluated annually and raises are considered, but my takeaway was that I shouldn’t expect much.

It’s discouraging to know I’m being paid at a lower/similar rate to recent undergrad graduates, as I bring a history of business involvement, an advanced degree, and consistently perform at a high level. I think it’s time for me to start looking.

How precious. No one cares.