I work with a company that is new and was one of the first set to be employed in the Company. I’m a first-degree holder in Information Studies and Sociology, and now a chartered Petroleum Economist. I work as an operations officer in the company.
Among the first staff’s to be employed is an HND holder in Hotel management who happens to be the administrative assistant.
The two of us were the first to start with the company and we are both paid the same amount as salary, which I think is unfair.
My question is;-
I want to approach the directors concerning this and would also want to request a salary increment befitting my credentials and job role.
Please advise me on what to do and the approach to use.
It seems reasonable to ask for a salary review, although you may not get a salary increment at this stage. In the early days of any business, money is tight, budgets will have been set and there may not be any more in the pot. So be prepared for the Directors to say there is no movement at this early stage.
But you can ask what the process is, will there be an annual review, when will that be, how will it work, is there a bonus scheme? How is the company doing financially?
Remember that it is always best to negotiate from position of power, and that information is power. What are you worth on the open market?
The first thing I would advise you to do is carry out research on the job rates paid for the type of work you do. This is more important than your credentials. The company pay you for what you contribute to the business, not for your qualifications, especially if they are not directly relevant to your work.
The fact that you are a graduate and a Petroleum Economist may have secured you the interview. Then you impressed them enough to be offered the position. After that the management are only interested in what you contribute to the company, its success, smooth running and profitability.
So, find out what your job is worth on the open market. Make notes of companies and salaries to back up your request for a review and increase. Do you have a job description? If not, then make a note of your duties and responsibilities.
This review of the local market for your position should also give you an idea of how strong the market is, and the likelihood of you getting a new position if you are not able to reach agreement with the Directors
Look at your performance for the company, and collate any achievements that will add weight to your request. “I saved the company $X by …. ““ I have brought $Y into the company from Z new accounts “
Mention any initiatives you have launched that will be profitable in the short, medium or even long term. Then armed with the relevant facts, approach the directors and see how they react.
I would not even mention the admin assistant’s salary, it is not relevant to you. And you don’t want to draw attention to the fact that you accepted the same amount as she did initially.
If they Directors respond that there is nothing in the pot to pay an increase now, ask about a future review, and introduced the subject of a performance related bonus next year.