From the course: Negotiate a Raise Using Salary Data

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Assess company-specific salary information

Assess company-specific salary information

From the course: Negotiate a Raise Using Salary Data

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Assess company-specific salary information

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Should you get a salary bump because you received an advanced degree or completed a certification? How does your organization adjust compensation in response to cost of living increases? The answers to these questions will vary across companies, but will oftentimes be reflected in their comp philosophy, which defines why they pay what they pay. Without a clear understanding of how your organization thinks about rewards, relying solely on market data to negotiate your compensation isn't sufficient. In this lesson, I'll share with you how you can integrate your company's pay philosophy into building a case for a salary bump. First, consider whether your organization has compensation ranges and where you fall in the range. The range is the minimum to maximum salary that companies will pay for a particular position. The minimum is the lowest salary that employees in their role should expect to receive. The midpoint is where someone who is fully proficient and performing the full…

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