You might not think it, or even feel it.
But you have power. Real power.
The power that makes things happen.
Of course, I’ve made some assumptions.
You’re going to be performing in your job. And I mean performing.
You know, making a real, positive and tangible difference to your employer.
And in B2B marketing, that’s going to mean revenue!
In many ways, you’re like the Jordan Belfort of the marketing team.
Or as they say in America, ‘You’re the Man*!’ [*insert appropriate gender here].
So with January on the horizon, and with inevitable pay reviews for some companies, how are you going to translate that power into something meaningful?
Here is our step by step process to help you negotiate a better salary in 2018
Look in the mirror and be honest
Before you do anything. Put yourself in your company’s shoes.
Do they believe you’re doing a good job?
A good employee is someone that over delivers.
And that typically means asking yourself 2 questions.
Am I exceeding* expectations on what’s asked of me in terms of my job?
*campaigns are on time, leads are being generated, ideas are working, budgets are being stuck to, objectives are being surpassed.
And am I personally a positive* addition to my team and the company?
*am I a good role model, do people enjoy working with me, am I easy to get along with, do I challenge in the right way.
Ask yourself, are you more Darth Vader or Luke Skywalker?
If you can honestly say you are performing, then move to the next step.
If not, then your review is a great opportunity to find out why.
‘What can I improve on?’, ‘What do I need to do to get a raise the next time we meet?’
Make sure you get some tangible suggestions and work ons.
Getting A Better Salary All Starts With Research
OK, I saw you switch off at the word research. I don’t blame you.
I’m the same. *where’s that magic bullet?*
Unfortunately there isn’t one.
So, let’s roll up our sleeves and do it together.
This step is quite crucial, because;
We need to find out if you are underpaid, fairly paid or overpaid?
Because you’re going to have to justify what salary increase you’re asking for.
And saying, ‘because I think I’m worth it’, just isn’t going to cut the mustard.
First, go to Glassdoor and click on their ‘Salaries’ tab and enter in your title and location.
This will bring up some results like this.
Now this will be somewhat generic, because it doesn’t take into account the industry you have experience in, or the number of years you’ve been working for.
But it will give you a basic range.
Next, try and find a Salary Survey that’s specific to your industry and specialism.
[Sorry, blatant attempt to get your email to start a relationship. But hey ho, you’re a marketer. You understand.]
This will give you a more accurate answer on what you’re worth.
And finally, speak to a couple of trusted recruiters in your sector.
*Matt, any good b2b marketing recruiters you could recommend?*
[LOL, good one!]
‘Look, I’m having a salary review and I wondered if you’d be able to give me an idea of what someone with my experience and skillset would be worth in the market right now?’
Perhaps some follow up questions would be good too.
‘How common is a bonus?’, ‘What’s a typical bonus?’, ‘What benefits could I expect?’
Don’t be worried about asking. Any decent recruiter will be happy to help you.
After you’ve done that, you’ll have some ammunition to back up what salary increase you’re asking for, as well as a range for what you’re actually worth.
Set the expectations
‘Let me think about it and get back to you.’
That’s exactly what you don’t want to hear in your review. It’s just a cop out from your boss.
Instead, set up the discussion ahead of time.
‘I’m looking forward to sitting down to discuss my performance next week. As part of that, I’d like to discuss my salary and I wanted to give you a heads up of that before we meet.’
That way there’s no wriggling out of it.
You may feel you don’t have the power to do this. But you do.
It’s your review. And it’s a two-way thing.
Too often people are dictated to by their company. And you’re not going to let that happen.
Preparation before you tackle the salary negotiation
I know you know that. We’re all grown ups here.
Or at least you are.
Like anything that’s important to you, whether it be your wedding speech, running a marathon, proposing, you’ve got to practice.
*You’re teaching me to suck eggs Matt!*
There will come a point towards the end of your review, when your boss will say, ‘so, you wanted to discuss salary?’
What are you actually going to say??
I’m mean what are the exact words that will come out of your mouth.
And here’s what’s important to remember.
Nobody likes having a gun held to their head.
‘I want more salary or I’m out of here!’, ‘I’ve had loads of headhunters call me and quite honestly, I’m worth more!’
So none of that.
‘I love working here…’, ‘I’m loving my job…’, ‘I can’t imagine working anywhere else…’
That’s more like it.
Reinforce your worth.
‘As you’ve mentioned today, I’m over achieving on everything you want me to…’, ‘Since January I’ve over delivered on MQL’s by 112%, and as you said when I started, that’s ultimately what I’m here to do..’
‘And after doing some research, and taking into account the marketing that I’ve been responsible for. Which this year has helped the company secure over £X in revenue, I believe I’m worth more.’
It’s rolling off the tongue now….
*But how do I actually do the negotiation bit Matt?*
And it shouldn’t be something like this.
All great negotiators talk about anchoring.
And my kids are geniuses at it. [Or I’m just a weak ass Dad.]
Ask for 10-15% more than you’d be happy with.
And, suggest something that they will get in return. Nobody likes having to pay more for the same output.
‘I’m looking for a salary of £x, and for that I’d like to take some more responsibility off your shoulders, so you can spend more time with our strategic partners*.’
*replace for something your boss loves doing, or, suggest you do something that they find a bore
Because negotiation is always about compromise and winning. Each side needs to feel like they’ve won.
99% of the time, you’ll get a ‘No’.
But that’s fine. Just be prepared for it.
If your boss says no, he’s then got to counter you.
‘I agree, you’re great and doing a fantastic job, and I also really want you to stay with us because you add so much value to the team and the company. But there’s only so much I can do. How about…’
And this is when the negotiation starts.
So think carefully about how that negotiation could unfold.
What will you say if your boss says there’s no budging on salary?
What other enhancements would you consider? [bonus, extra holidays, training, working from home, flexible hours]
However, please note.
Always negotiate with grace. Be positive. Be calm. Listen. And see things from their perspective.
It maye the be the case that you have to prove yourself over the next 3 months to earn that salary increase.
Or it might be the case you get that well deserved bump in pay straight off the bat.
Either way, you’ve taken control and you’ve given yourself the very best chance of being paid what you’re truly worth.
May the force be with you….[sorry couldn’t help myself, excited about watching this with my kids!!]
[WARNING…BLATANT PLUG COMING]
If you’re interested in our Salary Survey for B2B Marketers, register your interest here and we’ll send you a copy when we publish it in January;