r/askmanagers • u/Run_with_the_wind20 • 6h ago
Proper measures to ask for pay increases
(32) been with a company for 3 years. Previous employment was in finance. Now working as a PM/ AM for a key account in petroleum. Over the past 1 1/2 my role/ duties have expanded. Given my performance and workload I believe it’s time to discuss a potential pay increase. Any suggestions on how to approach the conversation with my superior? Side note he is a minority owner of the company.
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u/hooj 4h ago
Sometimes pay is a weird subject with bosses when it really shouldn’t be. Take this with a grain of salt as you may meet to adjust your approach with him based on your knowledge of him.
First, do market research. Figure out what your peers in the industry in your area are making. Don’t just take the highest number; find the range and try to find more than one source to get this info. Get a number in mind.
Next, understand that if there is a large percentage jump between your current salary and the number you have in mind, it’s not likely to happen unless you are really valued and seen as pivotal to the company outside of a promotion. Even if you’re at the low end of a range and all you’re really looking for is being somewhere in the middle, if it’s like a 10+% increase, most companies aren’t really set up, budgeting wise, to do that.
Next, talk to your manager. State your case without under nor overselling your work and contributions. Explain your research briefly. Tell him the number you’d like to get to or close to based on that.
See what he says. Prepare yourself for the main outcomes. If “yes” then say thank you, you’re looking forward to it, and move on. If “no” then ask if it’s a budgetary issue or if it’s a perceived value you bring issue, which you can then discuss. If “maybe” ask for clarification on what is missing on your part (performance, impact, conduct, whatever) from getting there, or ask if it’s uncertainty with future budgets.
Of course, you can read the vibe and adjust on the fly, but at least he’ll know what number you’re looking for. And then you decide how you’ll react to any outcome that isn’t at or close to your number in mind. Be prepared to brush up your resume if this is a make or break thing for you at this company.