New company management/unpaid
Discussion
I currently earn under 20k working in the biotech industry. I've been looking at jobs recently. Had 3 interviews so far but no luck. This has also coincided with our company getting rid of our old CEO and bringing in a new one, along with other senior management. We are going to be having our yearly appraisals soon. We had a company meeting and we were told that the new CEO is going to look into pay increases. The old CEO didn't really care much about this aspect. The proposed increase will be linked to performance and also for staff retention. The employee turn over rate in this place is crazy in one of the departments, my department not so bad in this regard.
To date I've managed to bring in revenues of close to 600k (dont know what the profit is) and have developed new methods that are quicker, cheaper and easier than existing methods. These were all solo projects I was tasked with through my time here.
As you can see my salary isn't great (so wish I had negotiated better at the start but this was my first proper job out of uni). In past appraisals I didn't bring up the topic of salary at all but its getting to the point where I need to start looking after number 1 and I've decided that time is now.
How should I go about this, as this time the agenda is slightly different to past appraisals? Because of the new management they will be taking a keen look at the salary situation of the whole company. I also will definitely be continuing to actively look in the job market as progression is bad at my current place.
To date I've managed to bring in revenues of close to 600k (dont know what the profit is) and have developed new methods that are quicker, cheaper and easier than existing methods. These were all solo projects I was tasked with through my time here.
As you can see my salary isn't great (so wish I had negotiated better at the start but this was my first proper job out of uni). In past appraisals I didn't bring up the topic of salary at all but its getting to the point where I need to start looking after number 1 and I've decided that time is now.
How should I go about this, as this time the agenda is slightly different to past appraisals? Because of the new management they will be taking a keen look at the salary situation of the whole company. I also will definitely be continuing to actively look in the job market as progression is bad at my current place.
It sounds as though you are in a sales role. That being the case, the metric against which your salary is measured are the revenues you generate.
If possible, you need to look at what others doing a similar job are earning. If they are brining in £600k and earning £30k then you have a good case to claim the same.
If possible, you need to look at what others doing a similar job are earning. If they are brining in £600k and earning £30k then you have a good case to claim the same.
I would log the processes you have put in place, with the amount you have saved the company, present it with what the industry pay grade would be for your position.
I would also try and negotiate a % of monies against any cost savings you come up with in the future, ie 5-10%
Don't be afraid to ask just state the savings and work you have generated against your salary.
I would also try and negotiate a % of monies against any cost savings you come up with in the future, ie 5-10%
Don't be afraid to ask just state the savings and work you have generated against your salary.
As the previous reply said - quantify your impact.
This process took x time before, now it takes y time because I have implemented z process.
We brought in a income last year, we are bringing in b income this year because I used c tactics.
In both situations be ready to lay out your thought process to get to the situation you're in and be prepared to be asked to extrapolate your ideas for further improvements.
Does the company have values/goals/mission statements/etc and do you have competency/behavioural/learning/etc targets? If so then reference the s
t out of them. State how everything that you have done relates to one (ideally more) of these things.
Good luck!
Edit to add: don't reference the salaries of others in the company by saying things like "I do a better job than Jeff and he's on £25k!". Their remuneration may have been agreed under the old regime and, unless you're in the civil service, is none of your business. Reference industry norms or even better what a competitor is willing to pay you!
This process took x time before, now it takes y time because I have implemented z process.
We brought in a income last year, we are bringing in b income this year because I used c tactics.
In both situations be ready to lay out your thought process to get to the situation you're in and be prepared to be asked to extrapolate your ideas for further improvements.
Does the company have values/goals/mission statements/etc and do you have competency/behavioural/learning/etc targets? If so then reference the s
t out of them. State how everything that you have done relates to one (ideally more) of these things.Good luck!
Edit to add: don't reference the salaries of others in the company by saying things like "I do a better job than Jeff and he's on £25k!". Their remuneration may have been agreed under the old regime and, unless you're in the civil service, is none of your business. Reference industry norms or even better what a competitor is willing to pay you!
Edited by echazfraz on Friday 24th August 15:35
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