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Should I Be Getting Paid More?
Photo Credit Amos Bar-Zeev
…And How To Get What You Deserve
Whether you’re searching for a new job or just trying to stretch your current paycheck further, this question can keep you up at night. You may think the answer to this is shrouded in mystery, but the answer is actually pretty straightforward. Here’s the deal:
Every role in an organization has a salary band associated with it that is in a range between about $10k and $40k depending on the level. So, for example, the guidelines for a Business Development Associate at Boston Pyrotechnics may be ($42,200 to $52,700 Base). And yes, they are often weird uneven numbers like that. It comes from raising things by percentages..
Managers can only give you a salary within that salary band. When a job description says “commensurate with experience” they likely mean “less experience will get the lower end of the salary band.”
Can you find out what the salary band is? Probably not. You can make an educated guess from looking at GlassDoor and similar sites. But remember even the data can just give you an estimate – salaries with the same title can vary widely by industry, and the same title in the same industry can vary widely by location.
So how is this information helpful to you?
You can answer the question “should I be getting paid more?” by doing one of these three things, or maybe all three sequentially:
(1) Negotiate your way to the top of the salary band for the role you have now
(2) Go for a promotion to the next level and the next salary band; and / or
(3) Define your market value by getting a written offer in the market.
Your manager or HR person may not tell you what salary band is, but they may tell you where you are in it, e.g. why their hands may be tied.
Note that this exercise is worth doing every year, as most companies increase their salary bands for cost of living annually even if they don’t really adjust your salary annually. If you are at a place where new BAs and MBAs are being hired annually, this is even more worthwhile because average salaries for new graduates always go up. This puts the pressure on management to make sure that those who are four or five years into their careers are not - or not finding out- that new grads are making more than they are.
Here are some tips on how to act on improving your salary once you know the range you are working with:
(1) Negotiate your way to the top of the salary band for the role you have now.
Develop a case for yourself based on merit. Bring data about what you have accomplished. Propose a raise based on data that indicates you are worth the extra investment because you bring more to the table. Be specific. Give examples of how you have proven yourself to generate improved outcomes, to be a valued team member, and / or to make your manager’s life easier.
Do NOT address what other people are paid at your company.
Do NOT bring up what other people may be paid in this role for other companies.
Negotiating on your own merits will earn you respect and is the most likely path to success. Period.
(2) Go for a promotion to the next level and the next salary band.
Get your hands on a job description for the role to which you would most naturally be promoted. Review every qualification by percent of how well qualified you are. For example. If it requires excellent verbal and written communication skills and this is your strong suit, mark that at 100%. If it requires Advanced Excel and you have not yet mastered pivot tables, mark that at 70%. Bring this annotated job description to your manager. The goals of the meeting will be to develop a shared understanding of what you need to do to be promoted, including:
• What you need to demonstrate to achieve the necessary level of capability in every skill.
• When you can next review potential promotion.
• What kind of salary may come with a potential promotion.
Note that while this is something you can absolutely do to create a clear path to promotion and an understanding of what a raise would look like, it is ALL you can do. If your manager says a promotion is not in the cards or the budget, you need to accept that this is the organization’s position. Be bold.
(3) Define your market value by getting a written offer in the market.
Back to the job boards! Hello, network!
Always a good idea to know a little about how marketable you are and what companies might be looking. Note that I have emphasized a written offer as these things can fall apart even at the verbal stage: no rejoicing, telling people or otherwise cutting ties with your present situation before you get that written offer, please.
I know what you are thinking though: if you don’t know what you should be getting paid, what do you put on the application (and most applications ask) for desired salary? Turns out that question has a straightforward answer, too.
Before you start any search, identify three numbers:
(1) The compensation you would love to have: this number would be worth the job move, including loss of credibility you have built up in your current company, getting used to a new culture and manager, etc. because it would be life-changing money. If your first job, this would be the happy dance number!
(2) The compensation you would like to have: still worth the change in job (or worth accepting a job) because you could make your life better, whatever that means for you.
(3) The minimum compensation it would take for you to make a change or take a job with an acceptable lifestyle.
Use your judgment as to which number you use, but as a rule of thumb I would use the highest number during the time when there is the least on the line. In other words, hike the number up the less it matters. Go middle of the road and negotiate up later, on your merits, if you really want the job.
Do your budget and be honest upfront. If your numbers and the salary band are way out alignment, why waste everyone’s time?
Should you be getting paid more? Maybe- the real question is, how do you get someone to pay you more. Channel your energy into one of these three steps and you'll arrive at an answer. Good luck!
Blog
Creating an effective elevator pitch: what you need to know.
The good news is that people want to help you, but you need to help them by providing an easily digestible sound bite that gets them thinking about specific ways that they, or someone they know, may be able to help you. Enter, The Elevator Pitch: your sound bite. In the time it takes to complete an average elevator ride (approximately thirty to forty-five seconds), you need to be able to walk through the three parts of the elevator pitch authentically:
· “This is what I’m looking for.”
· “Based on my experience and/or skills, I know I’ll be good at it.”
· “Can you help me?”
That’s all it is! Be prepared to elaborate for a few more minutes if you get someone’s attention. However it’s those first few seconds that are key. You don’t have much more time than that to (1) prove that you know what you want, (2) prove that you are genuine in your interest in learning from the other person, and (3) remember to ask for help.
NOTE: If you don’t ask, you don’t get. Someone you know could know someone with a job that would be perfect for you. You can start asking around even if you don’t have a formal elevator pitch. Get out from behind your computer! Jobs are not going to come looking for you.
Let’s talk about Don, who is interested in an entry-level sales role with a software company. Here are the fundamentals of his elevator pitch:
Examples For This Is What I’m Looking for:
· To add value to a sales organization with my strong work ethic and ability to develop relationships
· To leverage my excellent attention to detail that I’ve gained with years of studying architecture, math, engineering, and other highly detailed disciplines
· To use my award-winning customer-service skills gained from working customer-service roles part-time throughout high school and college
Examples For This Is How I Will Add Value:
I’ll proactively identify what needs to be done and complete required tasks, often under tight time pressure.
Examples:
· Have a track record of working well in retail during high-pressure situations
· Track record of teaching myself required technology skills, both proprietary and off the shelf, in school and professional settings
I can juggle several demands at once.
Examples:
· I earned a high GPA while always working at least twenty-eight hours per week
· Excelled in all work environments while also excelling at school
I can create new methodologies and strategies to meet goals.
Examples:
· Created new processes for retail sales staff to meet and exceed sales goals
· Generated sales at a family construction company with a new website interface and promotional campaigns on social media channels
Examples for This Is Why It Will Make Me Happy:
I enjoy things that require hard work and discipline.
· Running, learning new languages
I’m creative.
· Writing, cooking, exploring new media outlets, and watching social media evolve
I’m adventurous.
· Love travel and trying new things
Once you have created your lists, you can create the foundation for your elevator pitch. Here are some tips for translating your lists:
· Look for themes: related things you have mentioned more than once.
· Ask what these themes say about you, for example:
o adventurous or studious;
o love people and working in teams, or like accomplishing things on your own;
o thrive under pressure, or get very anxious around deadlines;
o happiest when in front of a computer, or happiest out meeting people;
o love details, numbers, and analysis, or prefer developing relationships over power points and spreadsheets;
o enjoy making presentations and speaking in front of a group or prefer to be behind the scenes.
Ask yourself why you chose what you did to include in your list. What makes each appealing? Assign skill-related themes to the items on your list. Remember the three skills we discussed that are highly valued in any workplace setting? Here they are, along with a few more. See if you recognize yourself in any of these characteristics below; cite specific examples in this exercise.
· Being detail-oriented so you don’t make mistakes.
· The ability to juggle multiple priorities under time pressure while still paying attention to details.
· Staying organized while juggling assigned tasks efficiently and quickly so that you can take on more when you complete them.
· Taking problems and breaking them down into action steps. For example, knowing that you need to improve customer service is interesting, but knowing that what is necessary for improvement is more rigorous training and better scripts are essential for customer service reps.
· Creative problem-solving. Every part of an organization—operations, strategy, finance, human resources, and marketing— can benefit from creative employees who bring fresh energy and unique approaches to their daily tasks.
· Link skills to experiences you have had, even if they are not work experiences.
Let’s go back to Don and see what this might look like:
· The ability to juggle multiple priorities at once, such as Don’s ability to work an almost full-time job while also supporting his family’s business and completing his degree
· Efficiency and speed at completing assigned tasks, such as being the kid who figured out how to change a bicycle chain before anyone else in his scout troop and, as a result, had time to learn how to install a kickstand
· Taking difficult things and breaking them down into simpler pieces, such as understanding the reason why no one showed up at intramural lacrosse at 3:00 was that most of the players had lab until 4:15, so they needed to switch field times with intramural soccer
· Creative problem-solving, such as figuring out how to get Don and his eight best college friends out of a bus station in Mexico where they have been stuck for twelve hours due to a ticket mix-up
Think about why you picked the things you did. Are there passions in your “real life” that are behind your choices? If they are genuine, they are appropriate to put into your analysis.
· Do you want event planning because you love being responsible for hundreds of details and pulling off some things you thought could never be done?
· Do you want to do consumer-product goods marketing because you love going into beauty-product stores and checking out the new fragrances, colors, brands, and formulae for shampoo?
· Do you love your volunteer work at a health clinic and want to be able to impact the policy under which the clinic runs?
Additional Considerations:
· Be specific about the kind of company where you would like to work, not necessarily the company where you want to work.
· Bad: “I want to work at Pepsi because they are on the cutting edge of brand management.”
Good: “I’m very interested in how brand management is changing due to social media and would love to work with consumer-packaged goods.”
Why? Your target could lose interest quickly if they have no connection to Pepsi. This hurts you because that same person might know someone at Rubbermaid who hires entry-level positions.
Be specific about your skills, not necessarily how you would apply them.
· Bad: “I want to go into finance because I’m great at details and like working with numbers.”
Good: “I’m great at keeping track of details and like working with numbers.”
Why? Again, you don’t want to limit the opportunities that could come your way. Your target could have an exciting idea about how financial modeling is used within a human resource organization to forecast benefit expenses.
NOTE: Yes, a human resources department can need financial modeling from economics majors. And a logistics operation can need communication writers who were English majors. It’s a thing. Don’t think too literally.
Develop three to five (never fewer than three and never more than five—it’s a thing too2) bullet points in each of the following categories:
This Is What I’m Looking For:
Should answer the question, “What do you want to do?”
This Is How I Will Add Value:
Should answer the question, “What do you have to offer?”
Why This Will Make Me Happy:
Should answer the question, “Why are you interested in this?”
Photo by Derrick Treadwell @sunearthmoon.studio
Blog
Managing burnout in yourself and others.
After more than three decades spent primarily in planes, conference rooms, hotels and offices, happiness to me is getting outside. Constant business travel means being in places where there are no plants, little natural light, virtually no natural materials, and constantly being surrounded by nothing that is alive, unique or personal. It takes a toll. I found hiking to be the best antidote for me, and was probably able to do the work I loved for so long because I took to the woods as often as I could.
You can love your work, your colleagues, and the rewards you are getting. But at some point, you can feel your soul start to deaden. Of course, this happens when you are not traveling as well. Doing the same thing on repeat, with the same results on repeat, will always take a toll. It is difficult to recognize in yourself whether you are suffering from burnout, then take steps to restore your own balance. Even more difficult is identifying and managing it in your team.
As a manager, the difference between burnout and depression is significant. If you have a direct report who is experiencing burnout, you need to understand the root cause so you can gain an understanding of the factors under your control that are part of the root cause. Open communication is your best tool for identifying opportunities to invest in. Overall employee retention most often require systemic changes. There are management tools available for work-life balance now like Ariana Huffington’s ThriveGlobal that are packed with specific ideas. You can support individual antidotes for burnout by encouraging employees who may be experiencing short-term burnout, however, to take short walks during the day or adding stretching exercises to their day.
As a manager and coach, I would never try to put a band aid on more significant issues of depression. If you or an employee are going through the feelings of detachment, fatigue, and difficulty concentrating associated with both burnout and depression, there is a simple test that I’ve used successfully with some clients to help differentiate the two:
Take a few deep breaths. Close your eyes. Imagine you are sitting on a beach, or overlooking a beautiful lake. It's a clear, warm day. You are with someone you really enjoy. Your favorite foods and drinks are being served. You have no responsibilities today other than to relax. Do you feel better?
If the answer is yes, you may be simply burned out and need to recharge. Here are a few ways to do that without breaking your bank account or your banked vacation days:
Do a digital detox. Remember when you used to have time during the day when you didn’t work? Do that again. No devices. Pick up a book. Talk to a friend. It might take a while but it will really start to feel like a vacation. Take a pen and pencil so that when you are upset because you can’t get instant gratification when that random question pops into your head (“Is that bakery I used to like that made good soft pretzels still open downtown?”, “who was the American League’s leading scorer in 1953?”) you can write it down and look it up later.
Make a list of things you like to do outside work. Commit to doing 2 of them a week. Get a friend to join you for accountability.
Change an unhealthy habit. It takes 3 weeks to change a habit so you need to plan for that. No more brownies for breakfast, staying up until midnight watching Andy Cohen, or online shopping during the afternoon so that you wind up working until 7 pm. Just pick one! It will make a difference.
Add one thing to your self-care column each week. Yoga class? 10-minute stretch on the floor? Manicure? They all count, just do something. Good. For you. However you define it, as long as you feel that you put yourself first at least once during the week.
If the answer is no, and you are likely depressed, you can still do these things above but they may not help. Again, I would not dabble in advising you on a medical issue. However I would advise you to think long and hard before changing jobs while you are feeling low. If you wind up running away from something instead of towards something, you will likely find yourself stuck in the same situation with new people.
A change can be alluring, but changes in careers can come with steep learning curves that require passion and commitment for success. You may want to address your medical issue first, and consider whatever career issues you have secondarily.