Use the correct data: Don't try to manipulate the collected data so that you get benefited. Be honest about your role, degrees and certifications. If you are an intermediate accountant, look for salaries of intermediate accountants - not seniors. Use the data for the job you are actually in and not what you want to do or think you should do.
Your salary research should pertain to your actual job work and the qualifications you use for it. If you have a doctorate in physics and you are working as marketing man, your doctorate is of no value as far as your present job is concerned. Keep this point in mind while surveying job salaries.
Also take the geographical location while searching salary data. An employee at Boston will get more than someone doing the same job in Seattle.
Salary data source is important: The thumb rule for salary data collection is to consider the survey made by your company's direct competitors. Surveys made by employers in the same industry are useful.
Trade association salary surveys are not dependable as they have an agenda and opinion. Don't depend on surveys that don't disclose the names of the participant companies and the number of responses counted. Depending on who made the survey and how they went about, it can be off by 25 percent to 35 percent. Also be sure that the numbers are the average, mean, median or mode.
Use the survey data judiciously: It won't be the right time to seek a salary raise on the day a survey comes out. Generally managers take time studying the survey and prepare for negotiations for salary hikes. The best time to ask for a raise is at the review time. If you notice any trends in relevant salary data, tuck them away till your review.
Just data isn't enough: Your value won't increase just because somebody doing the same job gets more. While citing the survey, you should explain why you deserve a hike. Outline your accomplishments and underscore how you have benefited the company.
Mind your language: When you tell your boss that according to the survey you are being underpaid by $ 10,000 a year and if you don't get the raise you would be looking for opportunities elsewhere, you are giving him an ultimatum. Such threats won't work. Instead, consider telling him that you understand from the information you had from people working in the same position that they are earning more than you. You are making a professional request to have your compensation reflect the industry-wise salary structure.
Follow-up: After seeking a hike in your compensation, tell your boss how passionate you are to work with him in particular and the company in general. Casually list out your accomplishments and give an idea of what you are planning for the next six months.
Convincing approach: When your boss shows you a recent salary survey of your company's competitors and tells you that you are being paid more, don't lose your balance. Quietly tell him about your contribution to the team and the company.
