You have worked for a year in the position of a Junior Analyst in the Finance Department. You probably compare your skills against the experience of your more qualified colleagues and think you can complete their tasks with ease. You still have time for training and are ready to devote a lot of free time to professional growth. In other words, you are prepared for promotion. And shifting to a new corporate role implies more responsibility and, thus, higher salary.
But your manager isn't in a hurry to offer you a new position. How can you come forward with an initiative, and when is the suitable time for it? Read on to learn how to present arguments for your promotion, and choose the right moment to talk to your boss about it.
Arguments for a Salary Raise
If you want to get a promotion, you often have to take the first step and fight for it. But fighting here does not mean being persistent without reason. Saying that you work hard isn't an appropriate reason for your chief to add another $500 to your salary.
Think of your value from the organization’s perspective, not yours –– because this is how your manager will make a decision. To land credibility, you will need some metrics and proof. So think of as many examples as you can. Here are some ideas to help you:
Use your KPIs
First, you need to collect the performance information accurately: point out the achievements, state the dates, and show proof of your success.
Then make sure to present that data in a brief, readable, and relevant manner. For example, if you completed a project two weeks earlier, do not mention only the planned and actual end dates. Here you need to stress these two weeks and explain what effect it had. Maybe, the client was so happy with the service that he recommended you to his two friends –– which resulted in two closed deals.
So, you have worked for the organization for a year or more. You have proved to be a good team player, loyal employee, and initiative junior. Even if your manager doesn't plan to promote you, you can refer to the growing cost of living and ask to consider at least a 15% salary increase. Explain other factors like a born child or house purchase. Though these things don't relate to your professional issues, they are part of your life –– and if you fail to cover new expenses, you will have to look for a new job. But you have to be honest and prepared for adverse reactions, including anger and intimidation.
Show a job offer from another company
So, you reminded your manager that you handled a client without much assistance from senior colleagues, submitted all reports well before a deadline, or never shifted delivery terms, but it didn't work. Now what?
If the above tactic is not successful, it's a bad sign unless your principal gives you a reasonable explanation. But you can risk it all and say you were offered more money. But in this case, you have to be honest –– this document should be genuine. And, if your boss is afraid to lose you overnight, he will find a way to satisfy your appetite –– at least partially.
When Should I Speak with My Manager about a Raise?
Usually, the first six months at a new position is a minimum period before making any changes. Often companies have a probationary period during 1-3 months, and they automatically switch to a higher salary when they get you on board.
There is also a pretty standard practice of raising a payroll after a performance analysis –– which usually happens annually. So, consider your first request for the salary review after a year and better tie it to some significant event. This can be the end of a financial year, completed project, KPI assessment, or just a month-end.
But if you feel you deserve to be praised, at least with a bonus, and you can motivate it objectively, don't wait for a better time. Also, remember to document your intent, so it is not just a coffee talk with your manager –– send an email or write a letter according to corporate standards.
Establish Good Relations with Your Manager
Though your workspace is a place to demonstrate your professional qualities, we all are humans working with humans. So, being sincere, cheerful, and helpful with your manager is essential. Honest communication will let both of you feel less strained discussing sensitive issues. However, don't try to be off-hand with your principal, and mind the subordination. And, on the other hand, don't let him be treating you as a helper outside the office –– even if you are his assistant at work.
Allow Time to Find Replacement
Sometimes your promotion can't be immediate as the manager has to open a position for you or promote the other person –– the one whose place you will take. The same applies to your current job –– someone has to take on your responsibilities. Probably, offering a candidate to replace you will be a good idea. However, it will depend on the rapport with your manager and overall corporate culture.
Steps to Take
- Research similar job listings to understand the average salary level.
- Evaluate monthly expenses to make sure they will be covered.
- Calculate the desired monthly remuneration.
- Prepare a presentation to demonstrate successful performance, use cases to prove competence, professionalism, and ability to cope with challenges.
- Pick up the right moment to communicate with your principal.
- Be ready to motivate your proposal even if the first answer is "no."
When you feel you are ready to complete more challenging tasks, take more responsibility, and be prepared to work more, you are probably prepared for promotion. And, consequently, for a salary raise. If so, talk to your manager, but first be prepared to claim the new amount, think over arguments, and pick up the right moment.