7 Simple Ways to Make What You’re Worth Where You Are Now

“I don’t want to change jobs right now.”  It was a statement delivered with conviction by my client.
 
“But I need to make more money.  Can you help me?”.
 
Yes, of course.
 
This client had been in his current job for a few years, and while he had received salary increases over time, he felt his skills and abilities merited more pay.  He just had no idea how to ask for it without painting himself into a corner; annoying (or angering) his manager AND not getting what he asked for (needing to find a new job elsewhere).
 
He liked the work he was doing, and didn’t really want to leave, but he also found it harder and harder to ignore that his skills had grown, providing more value to his organization then his paycheck reflected.
 
It’s a stressful place to be.  And it happens more often than you think, especially for mid-career professionals who’ve found that “sweet spot” where you’re in a job you really like and it works well for your life, so you stay awhile.  Over time the salary increases you’re given may be fair internal to your peers, but are falling short of what the outside labour market offers.
 
Or worse, someone is hired from outside to do what you do, at a salary greater than yours because your organization can’t secure outside talent without offering more money.  Yet your organization hasn’t adjusted salaries (or can’t, or won’t) for those who already work there.  Watch for it, sadly this does happen, and the labour market in urban North America is heating up, making this more likely.
 
Don’t get caught in this spiral. Here’s what you can do to make more money where you work today.

• Know your impact.  You need to clearly demonstrate the value you bring to the table at your organization, and to quantify it as much as possible.  Your boss won’t be moved by stating you’re the only one who knows how to do something (even when it’s true).  Managers are better able to support a salary change when they have data, and that data should focus on how you saved the company money, time and/or resources.  You need to give your boss all the speaking points they need to advocate on your behalf, because while your manager is the first person who needs to be convinced you’re worth more, they may not be the only one who needs to approve this change.
• Know your worth.  Check to see what your skills are worth in the market place.  There’s lots of guides and resources on the internet, and your professional association can help too.  Knowing your market value helps you to be realistic in what you ask for, and provides evidence that your skills have that value elsewhere.  Presenting this to your manager is a conversation that needs to be navigated with skill so they don’t feel you are delivering an ultimatum. Unless you are feeling 100% certain that you have the level of visibility and influence you need (and the right approach), don’t start this conversation without seeking help on how best to do this.
• Ask for a salary review.  Rather than asking for a raise, asking for a salary review (which should include a review of your current job responsibilities) is less threatening and may get you the results you’re looking for.  You’ll need to make the case for how your job and your performance has increased over time, substantiating why it merits review today.
• Look to expand your responsibilities.  If you’re concerned a review won’t change your salary, then look for ways to expand or enrich what it is you do in your job today.  Taking time to get really knowledgeable on a client, product, tool, process or industry that supports your work is one example of you can become indispensable to your boss, making your value more visible.  You can also do this by asking your manager what you can do to make yourself more indispensable – they may have some ideas you wouldn’t have known were options.
• Develop your skills.  Taking courses (including the on-line learning your company may offer in-house) is a great way to evidence new and existing skills in an objective way.  Credentialling is another way to substantiate your value (and increase your marketability).  Haven’t written your final test yet, or only have a course or two to get those letters behind your name?  Now is the time to take this to the finish line.  If you want to start a credential from scratch, do your research first to ensure you’ll get the salary and job opportunities you’re looking for (and always pursue these from a reputable organization).
• Check on promotion possibilities.  Promotions are an option at some companies (but not all).  Depending on the size of your organization, asking to be considered for a promotion, and learning what would make you a stand out choice, can also support your path to a better salary.  If your organization can’t offer promotions (and many can’t), ask for job enrichment opportunities that expand your current responsibilities (and if you have suggestions, offer them – be open to hearing what’s possible and what isn’t).
• Look at your total compensation.  For some organizations, providing more money is just not in their reach (particularly if they’ve been hit hard by the pandemic, supply chain issues, inflation or other deep impacts to their bottom line).  However, salary is not the only way you’re compensated – there may be other ways to recognize your value, like increased paid vacation time, paying for your professional development, bumping up your health benefits (including more room in your health care spending account), compensating for your home internet (or another perk), etc.  It never hurts to think outside the box, or to ask (remain open to what is possible and the time it may take for your organization to consider your suggestion).

 
As with any negotiation, asking for more compensation in your role needs to be handled with consideration and care.  You need a game plan.  Working with a career coach can help keep you from making career limiting moves and improve your odds of getting paid what you are worth.  My client and I worked together for a few months, gathering data, positioning his skills and visibility at work and practicing for the series of conversations that ultimately got him what he was looking for.
 
All of this begins with knowing what you are worth, and balancing your expectations with conviction.

Need help navigating a salary negotiation?  Book a call today because you deserve to be paid what you're worth.

Book Today!