Time: > 1 - 2 hours
STEP 1: Research salary benchmarks for your role or desired role using reliable sources. Create a spreadsheet to log data, noting the median salary, range (e.g., 25th–75th percentile), and factors like experience level or company size.
Examples include:
- Online platforms like Glassdoor, PayScale, or LinkedIn Salary to find salary ranges for your job title, industry, and location.
- Industry reports from professional organizations or government data (e.g., U.S. Bureau of Labor Statistics for U.S.-based roles).
STEP 2: Analyze how your current salary compares to the collected data. Calculate:
- The percentage difference between your salary and the market median.
- Key skills or certifications that higher-paid professionals in my role possess.
STEP 3: List skills or qualifications that could justify a higher salary based on research.
- Technical skills (proficiency in Salesforce for a sales role).
- Leadership or soft skills (project management, stakeholder communication).
- Certifications or advanced training tied to higher pay.
STEP 4: Determine 2–3 skills to develop to boost your market competitiveness.
STEP 5: Schedule a 30-minute meeting with your manager to discuss your salary and career growth. Prepare by:
- Summarize your research findings.
- Highlight your contributions to build a case.
- Draft questions like: “What skills or achievements would position me for a salary increase to align with market rates?”
STEP 6: Create a plan to take action on steps leading you towards your desired salary and/or career path.