In the fast-paced world of marketing, professionals often find themselves working tirelessly to deliver impactful campaigns and drive business growth. However, many marketers feel that their compensation doesn’t reflect their hard work and contributions. Marketers are approximately 20% underpaid. With the average U.S. marketer earning $108,380 per year, this discrepancy amounts to a substantial sum. While switching jobs may be a surefire way to secure a significant pay increase, there are proactive steps that you can take to negotiate a raise within your current role. This article outlines a comprehensive approach to making a compelling case for a raise, focusing on external research, internal preparation, building a support network, getting ready for the discussion, planning for potential outcomes, and preparing for future requests.
Conduct External Research
To effectively negotiate a raise, the first step is to conduct thorough external research to understand the compensation landscape for similar roles in the industry. Utilize job postings on platforms like LinkedIn, industry-specific job boards, and employment websites to gather data on what other professionals in your position are earning. Pay transparency laws in states such as California, Colorado, Connecticut, Maryland, Nevada, as well as major cities like New York City, require companies to disclose salary ranges in job postings. This transparency offers a valuable resource for benchmarking your current compensation against market standards.
Beyond job postings, salary benchmark reports provide cumulative data that can offer insights into average salaries for various roles within the marketing industry. For instance, CMI research indicates that the average salary for U.S. marketers is $108,380 annually. However, this figure varies based on location; marketers in major urban centers like Boston and San Francisco can expect an average salary of $122,265, while those in other locations earn around $93,737. Furthermore, breaking down salaries by job title reveals that directors and above earn an average of $146,901, managers earn $102,914, and individual contributors make approximately $89,455.
Additionally, tools like the salary calculator from Creative Circle, a recruiting agency, can be beneficial. By selecting a specific job title and location, this tool provides insight into both average pay and desired salaries based on what candidates are seeking. Such data points are instrumental in building a strong case for a raise, as they offer concrete evidence of what the market dictates for your role.
Prepare Internally
While external research is crucial, internal preparation is equally important. Begin by assessing your employer’s financial health and the impact of your work on the business. If your company is thriving, your request for a raise may have a stronger foundation. Conversely, if your company has experienced layoffs or financial difficulties, securing a raise may be more challenging unless your role has significantly expanded.
To bolster your case, compile a list of your achievements and measurable results. Highlight clear examples where your efforts have directly contributed to the company’s success. For instance, if a particular campaign you led resulted in a significant increase in sales or customer engagement, include this data. Nikola Baldikov, CEO and founder of Inbound Blogging, emphasizes the importance of demonstrating the tangible impact of your work on the company’s bottom line. By showcasing your determination to drive results and your success in doing so, you make a compelling argument for why you deserve a raise.
Maintaining a running document where you paste positive feedback, metrics, and results can be advantageous. This organized record allows you to quickly reference and present your most significant achievements when the time comes to request a raise or update your resume. Additionally, consider outlining how you plan to leverage new tools or skills you’ve acquired, such as AI technologies, to enhance your performance and bring more value to your role going forward. This forward-looking perspective can further strengthen your case by demonstrating your commitment to continuous improvement and the company’s future success.
Build a Support Network
Having a support network within your organization can significantly impact the success of your raise request. Invest time in cultivating relationships with colleagues and supervisors who are willing to vouch for your contributions. This can be particularly beneficial if they can provide specific examples of your impact on the team and the company.
Steve Rose, a product manager and former vice president at Intent, advises aggressively cultivating your support base over time to ensure colleagues are comfortable advocating for you when the need arises. If possible, ask one or two colleagues to send a statement to your boss about your progress and improvement. Alternatively, you can request recommendations on your LinkedIn profile, which you can later reference in your salary negotiation.
Establishing a strong network of supporters demonstrates that your value is recognized by others within the organization. This external validation can supplement your case for a raise, providing additional evidence of your contributions and value to the company.
Get Ready for the Discussion
When preparing to discuss your salary, it’s essential to focus on the value you bring to the company rather than personal reasons. Approach the conversation with a well-researched request, emphasizing your contributions and alignment with the company’s goals.
Rehearsing the conversation can help alleviate anxiety and ensure you present your case confidently. Vaibhav Kakkar, CEO of Digital Web Solutions, suggests a prompt to get you started: “As you’re aware, I just finished my (X) year with (organization). I am eager to continue working toward the company’s goals in my current position and expand my duties. On that basis, let’s talk about my pay.” This opening statement sets a professional tone and highlights your commitment to the company’s success.
Be specific and realistic in your salary request. For roles with unchanged responsibilities, a 3% raise is typical, while anything over 5% is remarkable. If your duties have expanded or the role has evolved significantly (e.g., increased travel requirements), a higher rate of 10% to 20% may be justified.
It’s also important to understand that your direct manager may not be the sole decision-maker. Present your case in a way that enables your manager to advocate for you to higher-level executives. Conclude the conversation by setting follow-up expectations, acknowledging that your supervisor may need time to review their budget and discuss with others. Indicate that you will check in a week or two later to follow up on the discussion.
Plan for the Outcome
While preparing your case, also plan for the possibility that your request may be denied. Having alternative requests ready can ensure the conversation remains productive. For example, if a salary increase isn’t feasible, consider requesting additional paid time off, a performance-based bonus, professional development opportunities, or flexible work arrangements.
Allison Gagliardi, a legal content director at PaperStreet Web Design, successfully secured 10% raises by presenting a well-organized letter outlining her accomplishments and compensation request. She included a folder with client and co-worker testimonials, making it hard for her employer to argue against her case. Similarly, if the answer to your salary request is no, present alternative requests that still offer increased value and satisfaction in your role.
By thinking ahead and presenting reasonable alternatives, you demonstrate flexibility and a continued commitment to enhancing your professional experience, regardless of the immediate outcome of your salary negotiation.
Prepare for Future Requests
While external research is vital when seeking a raise, internal preparation is just as essential. Start by evaluating your employer’s financial status and the effect of your work on the business. If the company is doing well, your request might be on firmer ground. However, if the company has faced layoffs or financial issues, obtaining a raise could be more difficult unless your responsibilities have significantly increased.
Strengthen your case by compiling a detailed list of your accomplishments and measurable results. Provide specific examples where your contributions have led to the company’s success. For instance, if you spearheaded a campaign that substantially boosted sales or customer engagement, include these statistics. Nikola Baldikov, CEO and founder of Inbound Blogging, underscores the importance of demonstrating the concrete impact of your work on the company’s financial health. By showcasing how your efforts have driven success, you present a strong case for deserving a raise.
Maintaining a document that records positive feedback, key metrics, and achievements can be very useful. This organized log allows you to quickly pull together your most significant accomplishments when requesting a raise or updating your resume. Additionally, outline how you intend to use new tools or skills you have acquired, such as AI technologies, to further enhance your performance and add value to your role. This forward-thinking approach can further solidify your argument by showing your dedication to ongoing improvement and the company’s future success.