How to secure a pay rise
March 4, 2012 7:59 PM Subscribe
Recommendations on securing pay rise in current job.
posted by Under the Sea to work & money (5 answers total) 2 users marked this as a favorite
I am approaching my annual review in the next week. I have been compiling all the necessary info to present my case but not sure if I'm missing anything.
I'm interested to know of any tips to ensure I have all my bases covered including what documents I should present to my management. Obviously want to keep things as professional as possible and will focus on my achievements within the company (that have benefited the company) as well as ongoing work goals.
On a side note, I've been working for the same company since late 2007 and have only had 2 payrises since. Over the years I've fallen into a sales and marketing role (in fact I'm the only sales member for the parent company, there are 5 subsidiaries and total of 75 staff and the parent provides sales support to 4 of those subsidiaries). The last 6 months has been especially busy with large contracts coming in, I deal with much of client interaction, procurement, contract management and logistics specifically for 2 of the subsidiaries. I have seen significant profit through these contracts in the last year or 8 months especially. Ive also been requested in the last 2 weeks to train and manage an off-shore sales/marketing team of which the company has new recruits since last week.
In addition, Ive had to adjust my afterhours post-grad studies to a very casual basis so I can meet the heavy workload (after-hours which are not paid) - this adjustment has been mostly my choice but also with some pressure from management. I've still managed to gain graduate certificate level in the last year but the masters is a few years off yet. The course I'm doing is directly related to the companies core business.
Finally, I've done a few online payscale surveys and seem to be sitting on a low wage given the job role and my experience, my industry percentile is around 37% (ouch) - Do I mention this during the review or keep it to myself?
Anyhow, any hot tips to secure the pay rise? How do I increase my chances? I'm aiming for 20% increase but not sure what to expect yet.
Thanks in advance for your time and consideration.