The first quarter of the year is strategic for companies since in those months the annual salary reviews are closed, taking advantage of the fact that the real results of the previous year are known and decisions are made. concrete adjustments in budgets for that year.
For this reason, this first quarter offers a window of opportunity for negotiate salary increases because companies know exactly what budget they can allocate to these salary increases. Doing so during this period makes it more likely get a raise than in July or October, when that budget is already allocated.
Increase season: January to March. The natural cycle of many organizations places January as the start of salary reviews, just after closing last year’s accounts, and those for the new year are being planned.
As and as you remember Andrea Ramos, the expert in Human Resources and recruitment, in one of her latest videos, during that first quarter, those responsible for human resources and management have a fresh and precise vision of the margin available for increases, which means that your request arrives at a time when adjustments are already being distributed based on real data.
A meeting at 11 in the morning. Attempting a negotiation outside this time range, such as in spring or autumn, is usually counterproductive because it does not fit into the company’s internal agenda and may be perceived as out of date. In fact, studies analyzed by the Oberta University of Catalonia not only recommend that the salary review be done in January, but they even refine by proposing a time to request it: 11 in the morning.
According to María Naqui, collaborating professor of the Psychology and Educational Sciences Studies at the UOC, “11 in the morning is a good option because having high cortisol levels drives us to make decisions. Even so, asking for a salary increase is something personal and not all of us function in the same way.” That is, not only would you be in the appropriate window of opportunity to obtain the salary increase, but the person responsible for giving it to you will have a greater predisposition to do so. Everything adds up to put things in your favor when you have already decided overcome fear to ask for a salary increase.
You have to prepare the meeting. In his video, Ramos highlights that before any talk about salaries it is necessary to add a context that reinforces that request. “Write down a list of measurable achievements from the last year,” the expert recommends. This step provides a base of objective evidence to not depend only on subjective perceptions, but on facts that anyone can verify in internal reports.
Next, compare your official job description with the tasks what you really do in your daily life and value that difference between the tasks and their initial assignment and the impact on the company of what you are really doing.
However, the most important point is investigate the salary band market for your exact position. That is to say, How much are other companies paying? in positions similar to yours. This will allow you to establish a new realistic range and enter the conversation with verifiable data in hand of your target salary and the minimum you would accept.
Open petition. Something that Ramos especially highlights in his video is that, after present with objective data arguments that justify the salary increase, the approach to the issue should not be done with a formula that leaves the door open to a yes or no, but rather forces the personnel manager to offer a reasoning.
“What would have to happen for that salary to be reviewed in the coming months,” suggested the hiring expert. With this open formula, the promotion is not considered as an immediate decision, but as the result of a process, forcing the person in charge to establish an assessment of your current position, conditioning it on goals and objectives. Not just to make a closed election. If you don’t get the raise immediately, you have already gotten the necessary steps on the table to get it later.
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Image | Unsplash (Vitaly Gariev)
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