Updated: Sep 18, 2018
We're in September! Just like that, we're quickly moving into Q4 of 2018. Before we know it, 2019 will be here! Wow, that was quick! But don't dismay, we still have so much time left! With just under 4 months remaining until the new year, here are 3 things you need to do BEFORE YEAR-END to improve your salary.
Assess your salary according to the market. You want to review as many salary websites (such as jobvent.com, salary.com and payscale.com) to rightfully compare how much money you are making vs those in the MARKET. Be clear that we are not assessing your salary against your counterparts, your colleagues or your cohort in general. I recommend that you sit down with pen and paper and jot down your current salary, your position level and your location. From there, you want to plug those factors into several search engines and salary websites and see what you find! You will likely have tons of feedback, such as the national average and varying levels within the same department/skill set (i.e., Director vs Associate Director). Don't be confused by those red herrings. Focus on all of your specifications and be sure to take copious notes! Download and print your FREE Salary Self-Assessment Guide today.
Write down 3 major accomplishments for this year.Although it may not be time to do a complete performance evaluation, I firmly believe what Lecrae says: if you stay ready, you don't go to get ready. Where is the lie? Writing down 3 major accomplishments arms you with the information you need to boldly and assuredly discuss your employee assets.
Be sure to have metrics in place. Even, better try to have a testimonial in place, whether from a client or a cohort. For example, if someone is overly complimentary about your work product - take the compliment and then ask if they can email your superior! Why? Because you are collecting your evidence of why you are deserving of more money. Women often shy away from their amazing qualities and/or work product because they don't want to appear bragadocious. If you're shy, have others brag on you!
3. Ask your manager for an opportunity to review your salary in the next 30-45 days.Gulp! Before you freak out and get anxious, take a deep breath and understand the important logic: (1) you are being proactive about your salary and not reactive - this is important for your own personal and emotional development; (2) you are planting a seed in your manager's mind that your salary needs a thorough review; and (3) next year's budget is being discussed now - NOW. If you wait until you next year, it is too late. The budget will already be decided and you'll only get what has been allocated to you. Therefore, this is now the time to review your salary. (Am I on par with the market? Am I on par with your expectations?) Never hesitate to speak up - just be sure to do it with grace.
Preparation is key in life and with all things. Please take the time to prepare yourself to go and be great.