Related Posts
Salary for Sr. producer agency-side? Thank you!!
Dickinson Wright salary scale?
More Posts
You know you're a consultant when...
Anyone who can help me with referral in Oracle
Additional Posts in Consulting
What does IC stand for?
Do recruiters care about LinkedIn endorsements?
New to Fishbowl?
unlock all discussions on Fishbowl.
Facts facts facts. It won’t matter what your _perception_ is or how you feel about it - legitimacy in your ask is what will make your case. Use peer and industry data to benchmark your ask - and make sure it is appropriate for your role, level of experience, past performance, geography, etc
I agree in part. Yes, making this fact based will reduce coming off entitled or threatening. But remember, the one who has the least interest has the most power. Even if you don’t have facts, but are comfortable leaving, you have the most power. I have a former colleague who all he did was walk in and say to his partner, “I feel like I am underpaid, and would really like to continue building my career here...” his partner said sorry and he bounced to a job that paid more. He didn’t do some peer analysis, just had less interest in staying. When the partner asked why he was leaving, well, surprise! They pay more dude.
1. Have the market rate ready - pay scale, salary.com, etc
2. Meet with HR before this meeting to know what the pay band is for your level/experience/education within your firm, so that you’re sure & don’t look like an ass if you’re wrong
3. Id phrase it as “I wanted to get your input on something that was brought to my attention, which was that I might be underpaid compared to my peers and the market value. The firm pays a range of XYZ for folks with my background/experience & the market rate is XYZ. Is there a way we can work together, or is there a process within the firm that we can start to change my pay to match the market rate?”
This advice is gold
Don't walk into that meeting without an offer on hand.
Be ready to walk away !
I did the same thing a year ago and basically just explained how I’m adding value thru my work and how my compensation should reflect that. Worked well - got more than I expected.
Did they give you a raise right away or did you have to wait till Sept?
Dont show your cards right away. One of my directors basically says “I don’t negotiate with terrorists” so go in objectively, concisely, and factually and do not under any circumstances threaten to quit in that meeting.
Say something like “I’m going to need consider other options that will reflect my value in the market, although I am content with the work and people here!"
I had similar situation in the past... raised concern to leadership and requested for HR to do the peer analysis and market valuation. Once HR confirmed the gap, it was a clear objective conversation based on facts and numbers. It took over a month but it was constructive and much easier for all parties concerned .
Leaving the company for another job is always an option and is always available. But why consider it your option 1 :-)
You know what...tbh..this sucks to say, but we all feel like we’re overworked and underpaid. The bottom line is that if you want to make more, you have to move to a different company. That’s just the culture of consulting. We’re all expected to go above and beyond for our clients and salaries, for the most part, are predetermined based on level. So if you’re unhappy, move to a different company and make more. It saddens me to say this ☹️
Be honest n to the point
Your best bet is to have an offer in hand before you do that . That removes fear from the equation and make it all business
You only get to play that card once and feel like your pointing a gun.
Don’t bring Glassdoor or other data you pull together from online. Firms pay a ton of $$$ for 3rd party benchmarking survey data which is carefully calibrated by market and job family. The “data” you bring from Glassdoor really means nothing. Make sure you ask where you sit in the band, your comparatio, and then have a discussion on if you’re far off or not
Well, I know at least one person hitting the job market soon.
Yeah really. Depending on your service line, now is really not the time. They very well might come back with "Sorry to hear that, when did you say your last day was again?"
I was in the same situation. I got the salary readjustment and I’m still under market lmao
If you don’t mind - What level? And salary?
Whatever you do, do not make a comparable to another resource on the team in the same role. You will immediately be shut down. Best defense is to show how great you are, all the extra things you do, the extra work you take on and as a result - the higher rate you bill the clients. Basically, make the argument for promotion. Unfortunately, the biggest salary increases are to those who job hop - but you then miss out on the stock and other factors in a job. Plus, grass is not always greener. Jobs shouldn’t always be about the pay - but also the benefits, the leadership, the people you work with, brand, travel, work life balance, etc...
All good input. Start researching other opportunities as that will help if your request for a raise is rejected. You do and always own your career. If you do not feel valued and your employer does not see that only you can change it.
Check out the book Never Split the Difference to design that conversation. Also, I suggest not making it one conversation. Plant seeds in small ways with facts over a few weeks or months to prime folks to the idea and then make your ask.
Just did the exact same thing. Ask for salary bench to leadership/HR and got realigned to my peers. Got 20k raise. Worth trying. Good luck
For a mid year adjustment, have an offer in hand. Otherwise wait until end of year adjustments.
Yea I wouldn’t start that convo without a BATNA bud...
Call HR first and explain the situation and request a market Analysis. If you are in the band, even if it's at the bottom, you are going to have to rely on your performance/reviews and the targets that have been set by you and your manager. s
So have those facts well in hand. Also, people are brought into consulting for many different reasons, background, urgent need, etc. And pay negotiations become part of that. I would not recommend saying anything like I know xxx is making xxx. As a manager that would iritiate me.
I would definitely start with an HR conversation.
Have you had success talking to HR? I’ve tried and they just refer me to SPMLs/Partners who are part of the compensation discussion.