Preparing for Compensation Discussion
I am a senior executive in the publishing/digital media industry and believe my total comp is way below the industry average/other senior colleagues. I have pulled online data comparing my salary to industry average from online compensation websites. I want to go into my compensation discussion with my boss armed with data to support my request for an increase. My question is 1) Are these site like Payscale/Glass Door reliable for providing a baseline for what my salary/TC should be? 2) Is it a good idea to have payroll data from peers who make significantly more than I do (I have pulled salary data from what my staff makes, and in one instance I make much less than one of my dire t reports) to stengthen my case? 3) what is the best way to approach this discussion? (I want to provide this salary data/list of accomplishments in advance of my discussion, so my boss can review prior to us chatting. Is this a good idea? What are the pitfalls with this approach? I would appreciate any and all feedback on this.
I did this once but at that time I was seriously underpaid and got my proper raise. I usually shy away from such discussions. Don't be me haha. Get what you deserve. If you showed me that glassdoorlink I would think "do I want to lose this person because he thinks he can get paid better elsewhere? if I don't give him a raise he may start looking."
How are you a senior executive and asking this question? You should have seen lots of salary data and most of your comp should be performance structured.
Something makes me think that this is not a senior executive
Bring all your data above and bring a very strong case for the value you bring to the company. What projects have you led? How much money have you saved or made the company? If you present them with a case of comparable roles and a value proposition, then your case is good. Most people bring the absolutely wrong weapon to this fight: “you should pay me more because I think you should” which is almost worthless. And have a counter argument for every reason. Be able to answer “we will look at salary review in q1 of 2020...” for example
I'm very skeptical. Senior Executives have access to a plethora of comp data. Not the junk on Glassdoor. Surely you have access to Robert Half? Alternatively, look on public company 10Ks. Unless "senior executive" means something very different?
I'm thinking this is like a bank executive I heard that SVP just means manager or senior manager at Citigroup
online data is not that good as data. a better approach would be to actively interview get a competitive offer and use that to ask for raise.
Senior executive comes to blind to get advice from coder kids obsessed with their meager salaries
Interesting