In Treasury Today’s 2018 Women in Treasury Annual Global Study 39% of our respondents did not feel they were paid the same as their male counterparts.
We can’t change parity at a corporate level overnight, but we can help equip you with the best tools to get what you deserve at work right now. So, in the first of our How to videos we present ‘How to Negotiate a Pay Rise’.
We asked Louise Watts, Director of Transition Hub, for her guidance on the matter.
“There are a number of things to consider when preparing to negotiate a pay rise. It’s important to do your research and know your situation.
Does your organisation reward the person, the role or the project? If your organisation rewards the person then think about timing and readiness for the conversation. Know your value, with evidence of your achievements, your impact and a view of what you are capable. There will be a time of year when remuneration is assessed so it’s important to start the negotiation well before that time, suggesting this being the start of the conversation.
If your organisation rewards the role, then your negotiation should focus on your readiness for the next role and the timing you want to work towards. This conversation becomes more about gaining sponsorship for a promotion into a role that comes with more dollars.
Should your organisation reward the project, it’s important set clear milestones and achievements with performance rewards, prior to commencing the project.
In every situation, communication is key, using directive, not passive language. Be prepared, professional, calm and confident, making sure you set up a formal meeting, rather than relying on a drop-in chat.”
Louise Watts, Director of Transition Hub – transitionhub.com