Does anyone have any advice on how to negotiate your pay with your manager? I know I’ve been almost 20% underpaid and my team values my work but it seems to be so hard to negotiate pay with them... I’ve tried few times it’s still in the process but I feel like I don’t have a strategy as to how to make my case stronger...how many days/months should you plan such convos beforehand

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Create your own options by interviewing. You will always be valued more from the outside

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Yeh that’s what I’m going to do. Although I do like the team and I get along with folks very well..

How did you come to the conclusion that you are 20% underpaid? And a few other questions: how long have you been with your company and when was your last pay rate increase?

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2.5years, last was 2% inflation adjustment.... I had an interview opportunity with another firm for a similar position in the same city and the recruiter told me the range... also had some searches through some other platform research... I figured I’m at a first year analyst level.....

^100% true. Don’t consider yourself underpaid with that reasoning. Most opportunities will always be a noticeable increase from your current job to bring you in. And a 2% raise you mean? Inflation hasn’t really been a thing for awhile. But regardless, if you work in industry, 2%-3% annual merit increases are fairly common as opposed to consulting/client-facing roles. Consider what your variable comp component looks like as well. Many people happily take lower salaries for the larger annual bonus payout component to supplement that.

I’d ask the question of whether you are indispensable to your firm. Your team may value your work, but technically that’s supposed to be the case... it’s why they hired you and pay you to begin with.

You’ll get paid better once you leave

Yes, actually go to HR and ask for a comparison/compensation evaluation compared to your peers or submit a proposal for salary review. It's called different things everywhere but all the same stuff. Best way to be viewed and get salary adjusted.

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