How do I negotiate my salary at a bad time for the company?

17 Comments

1. AnonymousFebruary 14,2022 at 2:56PM UTC

   Yes! Start with the data and know your value to the company. What role are you playing, and how are you effectively avoiding costs/generating value with these additional responsibilities? What are the comps for the title AND the duties you are performing? How much would it cost them to have to replace you? Also consider, what kinds of compensation are important to you. Do you want certifications/training/CPEs that belong to you and ultimately benefit the company as well? Time to study for them/attend conferences? Approaching as a total package gives some options they can justify beyond just salary/bonus.

2. Kirsten BunchFebruary 14,2022 at 3:34PM UTC

   What value are you bringing to helping get the company out of a not-great spot? That's worth a lot!

3. Carmelita ErvinFebruary 14,2022 at 6:08PM UTC

   If you believe that you should be paid more for your work and want to do something about it, you have two choices: find a new, higher-paying job or ask for raise.Since the company is not doing well, this may not be the best time to ask for a raise. You have to be aware of the company’s financial health. You should look for warning signs, such as cutbacks in spending or layoffs. If you know that your manager is under a lot of stress it may not be the time to ask for a raise. I’ve noticed that it is best to talk about money during annual or quarterly reviews. If the end of fiscal year is coming up, that might be another great time to talk about a raise.  I wish you the best in making this decision.

4. Crystal HowellFebruary 16,2022 at 1:12PM UTC

   If you are in a managerial position, find out what is draining the company financially. You might be able to bring a new set of eyes and skills they may not know you have to the table and make suggestions. Run the numbers, and show them how a raise is possible. If you are not in a managerial position, take a look at your last review and if you have corrected or excelled in your missteps, show them you are raise-worthy. Replacing you will be more if you are a senior employee. If the company not doing well is NOT on you, make your case and decide to stay or leave. At least, you gave it your all!

5. AnonymousFebruary 16,2022 at 2:11PM UTC

   This is tough to really assess without context, for instance - what it causing the company to 'not be in a great-spot'? Do you directly contribute to the companies success? Have you ever been given a raise?

   For reference I've been with my company for almost 4 years - I have only increased my pay by taking on a higher position (ie. more responsibility) we do not increase wages/give raises if you're just doing the same job with the same responsibilities. I'm not saying I agree with this structure, but something to note that some companies don't so if you've never had the raise convo, I just am curious if your company even does them. Also if you contribute to the bottom line, and the company isn't doing well (such as a sales position, etc) then asking at a time when the company is down seems telling as to what the answer will be. Its much easier to demonstrate your worth when you've done something well and the company has benefited (unfortunately that is what they are going to look for - what have you done for them?). Its worth exploring exactly how much you feel you want as well. I would say if its around 2-5% then that is a raise, but if you're looking to increase your salary by $20k you need to look for a job elsewhere or look for a way you can take on more responsibility in your current company that would give you a reason to increase your salary. I hope this is helpful. I have this convo with a lot of my employees who say they don't want to leave but they want a raise - which we don't do.

6. Christi MillerFebruary 16,2022 at 3:03PM UTC

   I agree with others in the conversation. It may not be the best time to ask for a raise. With that being said, if it's review time then now is when you can bring the data/external feedback to show your value. You may also try providing strategies to save money/increase revenue for the company which could translate into a better time to ask for a raise.

7. Doyin Abike SomoyeFebruary 16,2022 at 3:16PM UTC

   Signify your intention of having a pay raise but knowing that the company is not doing so well and you dont want to quit your job. Instead you are willing to make things work better at the office, once the company is back in shape and are aware of your inputs. You can revisit the discussion of raising your salary.

8. Madison McCranneyFebruary 16,2022 at 3:36PM UTC

   Yes, there is hope/leverage! Getting these jobs are super easy if you're ready to work. Also, I wish the best for your not-so-great company!

9. AnonymousFebruary 16,2022 at 4:26PM UTC

   You should expect to have a raise. You are not an owner or shareholder, you are an employee. You would like your hard work to be recognized and to stay up with market value. The hardship they are facing needs top talent to help them work through it. If they want you to go without a raise, then they should give you ownership in the company. Negotiate as you would if they are doing well.

10. Kelli ThompsonFebruary 16,2022 at 6:23PM UTC

    As a former HR person, I can tell you that great people get raises in challenging times.

    1. Present your data - what’s changed in your role and what that role is worth in the market
    2. mention all the value that you contribute during this time
    3. know you’re worth and ask - leaders aren’t paying attention to this as they should

    at the end of the day it will cost them more to replace you than to right size your salary so make a confident ask.

11. Joanne RosenFebruary 16,2022 at 8:33PM UTC

    We write many resumes for people who want a raise. First, it shows your value to the company (we don't just do laundry lists of duties). Second, if they can't give you a raise, then you are prepared to look elsewhere. They can see that.

    During Covid, my son's company asked them to take a 10% pay cut as they tried to work through it. Fall 2020, they gave him a 2.5% raise . . . out of his 10%. They somehow thought everyone should be so happy. Meanwhile, there seemed to be no hardships for the company owners lifestyles.

    Needless to say, my son and another Sr. Engineer both quit. Both had talked to management about it but were told it just wasn't the right time. They were also short staffed and working really long hours.

    I wrote his resume and he had a job in 5 days.

    If you want to know how your resume stacks up, please upload it to: https://www.analyticadvantagecc.com

    Cheers

    Joanne

12. Vidya RajaFebruary 17,2022 at 12:01PM UTC

    Joanne,

    I'm in a similar situation and actively looking for a new job. Would you mind taking a look at my resume too?

    Thanks!

13. Joanne RosenFebruary 17,2022 at 9:52PM UTC

    Hi Vidya,

    Not at all. You can upload it on the website. www.analyticadvantagecc.com

    Cheers

    Joanne

14. AnonymousFebruary 16,2022 at 8:52PM UTC

    In my current organization, raises are only given at year end reviews. Unless you're promoted, they aren't generally given - even if an employee provides substantial reasons for deserving the raise. Does your employer allow for raises outside of mid- or end of year reviews?

    I would put together a document outlining how you've contributed to the growth of your team, department or the company as a whole. Agree with another poster - what is meant by "not-great spot"? Finding out what is causing the company to be in this place is a start. If your position allows, also try to find out what the plans are to move the company forward and if you're able to help contribute to regained successes.

15. Kieran DottiFebruary 16,2022 at 10:19PM UTC

    I had a friend who was in a similar situation and his boss told him, I can't give you a raise, but think if there's anything else I can do to improve your situation. He lived in Brooklyn and worked in NYC and the alternate side parking situation at his apartment cost him up to 1 hour each night, circling for spots. He needed the car to go to meetings for work outside the city. His building had a parking spot available but it was $500/month. So instead of a raise, he asked for them to pay his parking fee which they could write into a different budget line. This worked for both sides. I tell the story, because it really opened up my mind on the types of things you could ask for in place of a raise if they can't give it to you at the moment. Can they increase your yearly PTO? Give you more flexibility? If they so no to a raise, can you get creative in asking for something else? There's lots of ways a company can compensate and appreciate you beyond salary.

16. Joanna PoeFebruary 17,2022 at 5:06PM UTC

    Ask for something non-monetary, like more PTO, and some kind of written expectation that you'll get a raise when times are better.

17. Liz MilneFebruary 20,2022 at 3:50AM UTC

    How much value do you add to the company? If you are a direct source of high income for them, go ahead and ask for the raise: make it clear that you deserve it, you need it, and that you more than bring in enough income to cover the extra: the fact that the company is not in a great place is not your fault. If losing you is a higher risk than paying you more, they'll pay more.

    If you're in a more secondary position, then you should still have the conversation and ask for the raise, but be prepared to agree for it to be deferred or accept extra benefits in lieu.

    Perhaps the company is not doing so well because they're not giving rises so the best staff members are looking and going elsewhere? If there's a way you can make them understand that without it sounding like a threat or an ultimatum, then so much the better!