How I Got A 1/3 Payrise

“If you want a payrise you have to fire your Finance Assistant and either do their work or outsource it abroad very cheaply”
Is what I was once told when I asked for a payrise

I went into the payrise conversation with data on:
1. The value I had added e.g. bringing in over £200k of aged debt over 100 days old
2. Aligning my value to business goals e.g. made a budget giving 3 years runway
3. Explaining my market rate and the fact that I was currently underpaid

But when you’re dealing with unqualified leadership
Who don’t understand the role or value of the finance function
There isn’t really much you can do
Other than to leave the company and find another role

I ended up getting a better role at a better company that gave me a 1/3 payrise
There is more detail on how I did that in this LinkedIn post 

But the One Simple Step takeaway for you this week is to

Assess whether the payrise you want is going to come from your current job or if you need to move jobs to get it

Not all employers are like the horror I described above
You can get a payrise staying at your company by asking for it or getting a promotion
But sometimes the payrise you want can only be received by moving

How do you make this assessment?
↳ Have a conversation with your manager to gauge the likelihood of your getting a payrise in your current company

In this conversation you want to
1. Have data on the value you add to the business - make it numerical
2. Be able to explain your goals and desire for progression
3. Work with your manager on the business case for your payrise
4. Understand from your manager the ability of the company to give you a payrise, what the timeline for this looks like and what you need to do to get it

To earning the money we deserve
Pernia | Your Finance Travel Buddy

P.S. Got any questions on negotiating payrises? Hit reply and let me know