I am writing this post in the middle of my own raise negotiation. I actually received my first offer (if you can call it an offer) about 2 weeks ago. It has been a few years that our employer doesn’t talk about a raise as they prefer to use the word “positioning”. The good thing where I work is that the salary scale is transparent and you can see it on our intranet. Therefore, it is easy for each employee to know where they are in the salary scale for each level.
The income bracket is well divided into 5 stages for each level. It goes from “in training” to “superior”. In the middle stages, you have “full contribution” with level A, B, C. so it looks like this:
In training – Level A – Level B – Level C – Superior
Most employees will be in the level A to C as they follow a normal career path with a steady progression. I won’t talk about my specific case (especially since it is not settled yet) but I will explain the process I am using in order to get what I think is fair ;-).
When I received my raise, I actually turn it down explaining how much I was expecting and telling that I was offered even more from a competitor a month ago (competition is pretty tough to get financial planner these days). I told my manager why I didn’t accept it (especially because I love the people I work with, I love my manager and I was positive in getting a decent raise).
The very first step was to determine where I am right now in the income bracket and then, determine where I should be considering what I did.
I sent a detailed email with all the points why I am asking a raise. The important is to always rely on facts that we can verify. I chose to not take the “the other guy is making more than me, I want to make as much as him”. Since the beginning of the negotiation, I use the word “us” and “finding an agreement for everybody”. I still want to work for my employer and I still think that it is a great place to be. However, if I’m being underpaid, then it becomes a whole new game.
It doesn’t mean that because we are living through a recession that you don’t deserve a raise. If you are a key employee and you are helping the organization going through these rough times, you should get rewarded as well. Most companies survive recession because of strong leadership, smart management and results from their key employees.
So this is where I stand for now. Hoping that the next post I write will be positive and that I announce that I am a happy planner ;-D
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