IT Salary: 10 Ways To Get A Raise
Do you deserve a bigger IT paycheck? Here's how to negotiate with bosses, navigate counteroffers, and avoid mistakes.
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Asking your manager for a raise and negotiating a higher salary probably rank right up there with a trip to the dentist's office on your list of fun things to do. The good news: The number of IT professionals who received a salary increase in the last year is up -- and with a bit of preparation, you too can walk away with more money.
According to InformationWeek's 17th annual US IT Salary Survey, IT staffers and managers cite pay as their No. 1 (48%) and No. 2 (46%) workplace motivators. In the last year, 41% of professionals reported a raise of up to 5%; 15% said they received a raise of between 5% and 10%; and 1 in 10 of professionals reported a raise of more than 10%, according to our data.
"IT pros have stayed remarkably consistent in their satisfaction with pay and their jobs overall in recent years: Around two-thirds say they're satisfied or very satisfied, a bit less than one-fourth are neutral, and a bit more than 10% are dissatisfied or very dissatisfied," the report states.
But that's no reason to get complacent: Money is also the No. 1 reason that IT professionals look for a new job, according to 72% of IT staffers and 70% of managers. As the economy and overall satisfaction with the industry improve, more IT pros are considering their options.
Another data point: In our recent flash poll on IT salaries, more than half of respondents said they do not feel fairly compensated. See IT Salaries: Looking For Love.
This year, 42% of our salary survey respondents indicated that they are somewhat or actively looking for a new job, up from 39% in 2012. Higher compensation, more interesting work, and increased personal fulfillment top the list of reasons for both staffers and managers.
Mark Berger, senior technical recruiter at Steven Douglas Associates, says that while you may be tempted to jump ship if you're underpaid, you should consider asking for a raise first.
"Have a conversation with your manager before you make a change. Employees sometimes don't see the value in their own work and think the only way to get an increase in pay is to look elsewhere," he points out. While sometimes a move may be the right choice, it's not your only option.
When a new job is on your horizon, prepare yourself for the inevitable negotiation -- and counteroffer. "Counteroffers happen more and more these days as employers really do value the talent they have," Berger notes. "They don't want to lose a good employee for a few thousand dollars."
Obtaining the salary you deserve -- whether it's through a raise or negotiations at a new employer -- requires that you prepare and research accordingly, then follow smart tactics. These 10 tips from industry experts will help you succeed. What's your salary negotiation advice? Share with your peers in the comments section.
Before you ask for a raise, make your value to the company clear, advises Matt Brosseau, director of IT at talent management firm Instant Technology.
"Show that you can take on extra tasks, work outside of your job description, and rise to challenges," he says. "This should make the concept of increasing your salary pretty straightforward to most managers. This proves your value to the company and that if it takes some extra funds to keep you around, it's worth doing."
And make it a habit to do your best all the time, Berger adds. "A lot of people just go to work, put their time in, and leave -- but that's no way to get a raise," he says. "Go the extra mile and put 110% into your work."
How's your company doing? Has revenue increased, plateaued, or decreased? How is your company performing in the stock market? Take the pulse of your company before you ask for a raise, advises Kim Parkhill, technical recruiter at IT staffing firm Mondo. "These are all factors that can benefit the conversation you have with your boss."
Something else to consider: where you stack up compared to others in your role, industry, and location. Compare your salary on sites such as Glassdoor.com and Salary.com, Parkhill says, or check out the latest data from InformationWeek's 2014 IT Salary Survey. These resources will give you a foundation for your salary expectations.
Before you meet with your manager, make a list of your accomplishments, skills, and the value you provide -- and be prepared to talk about them. "Whether you've been working with a company for six months or six years, you want facts and figures outlining the value you've added," Parkhill says.
For example, if you work on projects that directly generate revenue for the organization, show the ROI that the company received from your employment, Instant Technology's Brosseau adds. "Further investment and responsibility should bring even stronger demands."
When you meet with your manager, exude confidence, Parkhill says. "Raises do not pop out of thin air. If you're at a company that doesn't have a structured salary schedule, it is up to you to ask the question."
And do your best to settle your nerves. "You deserve this, and you are not going to be the first person in your company to ask for a raise. Don't let your nerves come across as uncertainty."
While threatening to quit if you don't get what you want might work in some scenarios, it sets a bad precedent for you in the future, Brosseau says. "You're really playing with fire here. Even if you get the raise you wanted, your company now assumes that you're ready to leave and this may cost you more than your raise in the long run."
Instead of taking an aggressive stance, be confident, Mondo's Parkhill advises. "Aggression makes for an uncomfortable conversation -- especially if you're giving an ultimatum -- and leaves your boss with a negative feeling regarding your employment," she says.
What sets you apart from your coworkers? How do you go above and beyond at your job? When you meet with your manager, prepare to sell yourself, Parkhill says.
"What are some quirks or personality traits that make you stand out? Make sure your boss is aware of what makes you unique -- and if not, educate them," she says.
Consider your skills, too: Deep tech knowledge pays, according to our 2014 IT Salary Survey. IT roles related to cloud computing, application integration, and data integration and warehousing earn top pay. In fact, five IT staff titles earn a base salary of $100,000 or more: architect, system architect, software engineer, project leader, and systems programmer.
If your manager denied your request for a raise, don't give up. "Sometimes it takes more than one conversation to receive a raise," Mondo's Parkhill says. "If it's not feasible today, how do you get there? Ask your boss what you need to do in order to take it to the next level."
She recommends, for example, collaborating on a timeline for a salary increase if you meet certain goals.
Maybe there's not enough money in the budget for the raise you want. What now?
Think outside the box, Parkhill advises. This might include asking for a title change; travel, phone, or education reimbursements; or perks like a gym membership. Other options: Ask for an extra week of paid vacation or the ability to telecommute, suggests John Reed, senior executive director at recruiting firm Robert Half Technology.
"Creative solutions like these could lead to more money in your pocket," Parkhill points out.
If you're pursuing a new role, try to avoid compensation talk early in the process, Robert Half's Reed recommends.
"If you give a number that's too low, you've left money on the table. If it's too high, you might knock yourself out of the running," he says. "Consider a response such as, 'That depends on the job requirements. What's the typical salary range for someone in this role?'"
If you've decided to move on to a new company and are in the negotiation stage, know that the company's first offer is almost never a final offer, says Robert Half's Reed. Use that to your advantage.
"Negotiate if you aren't being offered a fair market value for your skills or experience," he says. "Keep in mind that the negotiation will set the tone for your relationship with the new employer. There shouldn't be winners or losers -- strike a deal that leaves everyone feeling good."
If you've decided to move on to a new company and are in the negotiation stage, know that the company's first offer is almost never a final offer, says Robert Half's Reed. Use that to your advantage.
"Negotiate if you aren't being offered a fair market value for your skills or experience," he says. "Keep in mind that the negotiation will set the tone for your relationship with the new employer. There shouldn't be winners or losers -- strike a deal that leaves everyone feeling good."
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