Written by: Mila Trezza, Senior Level Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Many brilliant individuals find asking for a pay raise too daunting. They hope that their excellence alone will bring the desired pay raise, avoiding the need to make a case (as it speaks for itself), rehearse a conversation about money, or face the possibility of not getting it at all.
Finding the right window to unlock a pay raise can also be challenging, even for the most accomplished individuals. Yet, as time passes, the dissatisfaction of feeling underpaid tends to grow.
So, how can we navigate a pay raise conversation with confidence?
1. Nail down the issue: is money the only problem?
Frequently, the dissatisfaction that goes with feeling that we’re not being paid enough is entangled with a component of not feeling appreciated enough.
Therefore, before tabling a pay raise conversation, it’s helpful to reflect at a broader level: is your dissatisfaction about how much you are paid, or does it extend to your role, impact, and recognition?
The interplay between compensation, motivation, and performance is not always linear. However, when job satisfaction is low, or the feeling of not being recognised for the value we bring is high, money may not be the first battle to pick.
Why? Because you may end up chasing a pay raise as a short-lived solution for a much broader issue. So, nail down the real issue first.
2. Be prepared: know your figures
When asking for a pay raise, the first step is thorough preparation. This involves gathering reliable data about salary figures for your role, both within and outside your organisation, and leveraging the highs of your performance.
Figures preparation includes acquiring reliable benchmarks in your region, industry sector, and the size of the company you work for. Ensure you include internal ranges and figures. Together, they will help you build a more solid request.
3. Know your timing: why now
Is this the best time? Timing is a huge ally when played right, and building great momentum includes aligning your request with favourable economic conditions, your company’s performance, and the following:
The right timing within your organisation’s unique processes. For instance, is your pay raise request part of an annual performance review or an ad hoc request based on your outstanding performance? Remember that swimming against the HR tide is usually challenging unless you have a compelling case!
Your boss’s timing. Consider the best time to table a pay raise conversation with your manager, especially if they are newly appointed. Be practical; will doing so first thing on Monday or in the middle of a hectic period help give bandwidth to your case?
Go back to your performance reviews. Ensure your impact and success stories make your narrative compelling. Timing driven by outperformance has a short shelf-life; waiting too long may result in losing momentum.
4. Know who will support your case
Internal networking matters. Identify key individuals who can support your case, especially if you report to multiple bosses. Develop a clear strategy to align your supporters.
5. Be realistic
Once thoroughly researched, determine the specific figure or range you are proposing. Say it clearly. Ensure that it is something that your boss can reasonably defend. How often you ask to reconsider your compensation needs also to be realistic.
6. You need data, but you also need a meeting
While preparation is essential, a face-to-face conversation is equally important. In-person interactions are the most effective way to gauge reactions. While a face-to-face meeting demands more preparation than sending an email, it carries the big advantage of signalling unequivocal commitment on your part.
7. Ultimatums rarely work
It’s fair to express your feelings but remind yourself that ultimatums rarely deliver to expectation. Expressing genuine enthusiasm for your role and your commitment is more likely to unlock support for your case.
8. Get ready to negotiate
Pay raise conversations come with negotiation. Have you played your scenarios, and what is negotiable for you? Even in the ‘no’ pay-raise outcome, there is room for negotiation. For example, you may ask to reduce your working days, increase flexibility over your working hours or get more of the work you enjoy.
9. Be prepared to see the bright side of a ‘no’
Finally, a ‘no’ (right now) to a pay raise may become a stepping stone to a ‘yes’ later on. So, if the outcome of your conversation is that it is not possible this month when would be a good time to discuss your pay raise again?
Mila Trezza, Senior Level Executive Contributor Brainz Magazine
Mila Trezza is a former General Counsel of a Fortune Global 500 energy company and an award-winning executive and leadership coach. Her company was named one of the Top 5 Executive Coaching Companies in the UK for 2023.
After more than 20 years of international experience, having served as Director of over 30 companies, and lived in six countries, Mila developed her approach to coaching with the sensibilities of a lawyer in mind.
Her mission is to cultivate a coaching culture for the legal industry that is bespoke to, and has an inside-out understanding of, the challenges that lawyers and legal teams face on a daily basis.
Legal professionals play a central role for the organisations they serve. Yet, little of their training prepares them for building the confidence, relational skills, and emotional agility needed to persevere and succeed. Through her coaching, Mila helps lawyers go from lacking confidence and feeling overwhelmed to having a clear path forward, feeling resourceful, and enjoying their roles.
In addition to running her own business “Coaching Lawyers by Mila Trezza”, Mila acts as expert advisor and consultant for leading global companies.
