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Know Your Worth: “Why I turned down a pay rise offer and found a new role instead”
By Meg Walters
10 months ago
3 min read
Welcome to Know Your Worth, a series in which we ask working women to anonymously share how they negotiated their way to better pay. Spotlighting the hurdles and motivations that come when challenging your salary, we’ll share stories from a variety of industries to empower women to know exactly what they’re worth (and make sure they get it).
Age: 27
Industry: Real estate wealth management
Your role then and now (before and after negotiating): Marketing executive
Length of time in industry: 6+
Location: Central London
Salary jump: My current company offered me a 4.5% raise after I asked for a 15% raise. I have now secured a new role with a 20% pay rise.
Any additional benefits: Hybrid working, employee pension
Employers think they have the upper hand right now
How did you decide it was time to make a change?
My title and pay did not align with my workload. I wanted to be paid the market standard and that was it. I know my worth. From my conversations with upper management it was evident that there was a limited budget for my department and overall staff retention was not a priority for them.
Have you ever negotiated a promotion, title change or pay rise before?
Several times, but I have never received a pay rise as low as 4.5% and I have always gone up in title. The market is pretty bad, so employers think they have the upper hand right now. On average it takes six months to find the next role.
What preparation did you do beforehand?
Besides psyching myself up, I did a lot of market research. I read and referenced market reports and saw a job listing with the experience needed for my role and title, including the standard pay. I had enough data to prove that I deserved to be paid more.
What reasons did you give for a promotion and pay rise?
My duties have always been way above my title. I pointed that out, then shared the actual market rates for my title and level of experience and requested to be paid the market standard.
Did you have a contingency plan if your request wasn’t met?
Find another role. I stayed for as long as it took me to find my next role and that was it.
Each conversation was an exercise in testing my patience
What was the scariest part of the process?
I think all professionals experience some pushback when it comes to pay rises. How a company and its senior management deal with it dictates employee loyalty. I don’t think organisations with rigid people in power can ever progress unless they change their attitudes and mindset. I felt like each conversation was an exercise in testing my patience; basically, it was like speaking to bullies. The scariest part was having to speak to senior management, instead of my line manager, over and over without reacting or emoting. I had to keep the conversations very matter-of-fact. I felt there was a lack of transparency around how my future at the company might pan out. The not knowing was also supremely stressful and scary.
How long did the process take?
More than two months.
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Would you do anything differently this time?
I don’t think my request was unreasonable or untimely. It was fair and I’d take the same course of action each time.
I’d keep it professional and list my achievements to management. Most people recommend having another offer in hand but that’s only helpful if you want to leave. If a company can’t afford to pay you more, they simply won’t.
I have chosen to move to a company with more progression and a stronger boss who can advocate for me going forward. My progression plan has been clearly detailed prior to me joining them.
Image: Getty
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