How to ask for a raise during COVID-19

How to ask for a raise during COVID-19

Even as the pandemic forces many businesses to slash their budgets, tech skills are needed more than ever. Use these tips to prove your value and get a pay raise in turbulent times

up
41 readers like this
CIO IT Investments 2

Enterprises large and small are grappling with challenges related to the new remote workforce. Add a shortage of skilled technologists, combined with impending immigration reforms in the U.S. and limited local and global mobility, and you have the perfect environment for technology professionals to ask for a raise.

You can strengthen your position before, during, and after the ask for the pay raise.

The problem, of course, is that the economic fallout of COVID-19 is forcing many companies to scale back on raises, promotions, and hiring. There could be additional barriers as well, such as company policies that limit raises to once a year, or managers who don’t fully understand what you do or who lack the political capital to fight for a raise during these challenging times.

Still, if you want to pursue a raise right now, it’s essential to strengthen your position before, during, and after the ask. Here’s how.

[ Which IT jobs will position you well for the future? Read also: 5 flourishing and 5 fading IT careers and 8 IT jobs in flux. ]

1. Know your worth

Before you ask for a raise, make sure you evaluate your motivation and your satisfaction with your job, manager, and company. It is imperative to consider all factors, including working conditions, purpose, location, and of course, pay.

Don’t attempt to negotiate salary until you’ve done some research based on your individual circumstances – a recent college graduate, for example, should take a different approach than an experienced professional. Employees may have the best leverage when they’re accepting a new job or applying for a promotion with a change of salary.

Women, in particular, should feel empowered to ask for raises. According to ISACA’s Tech Workforce 2020 research, more women (74 percent) than men (64 percent) say they have been offered a salary increase or job level promotion in the last two years. This may be a result of organizations actively addressing gender pay gaps.

[ How does your automation strategy and ROI stack up to your peers? Register to attend AnsibleFest, a free virtual experience, Oct. 13-14. ]

2. Keep it simple

Asking for a raise should not be an overly complicated process – so skip the multi-slide PowerPoint presentation and instead simply make a solid case. To build an argument and present it intelligently, you must understand and be able to explain clearly how you make and/or save money for your company or how you avoid risk.

  • Highlight the value of your contributions and projects and build a theoretical ROI.
  • Know the value of similar work in your market and in your geographic area.
  • Avoid presumptive and confrontational language such as “I deserve this” or “You are underpaying me.”

3. Highlight in-demand skills

IT professionals can make the case to their managers that their skills and expertise are increasingly valuable and necessary to ensure business continuity and enterprise security during and after the current pandemic.

For instance, according to ISACA’s COVID-19 Study, only 51 percent of technology professionals and leaders are highly confident that their cybersecurity teams are ready to detect and respond to the rising cybersecurity attacks during COVID-19. Professionals with security skills should highlight how they bring value to the organization during the era of remote work, especially since it is difficult for many organizations to recruit and retain people with these skills.

[ Read also: IT careers: How to job hunt during a pandemic. ]

4. Have a timing strategy, and a plan B

Be strategic in your timing. The worst time to negotiate a raise is during performance reviews, when many of your colleagues may also be asking for increases. Instead, be first to propose a number. Also, if you counter a standard 2 percent raise with 8 percent, your boss may respond less than favorably: They’ve already secured a raise for you, and they may not be inclined to go to the well a second time.

The worst time to negotiate a raise is during performance reviews, when many of your colleagues may also be asking for increases.

Be prepared to pivot to other possibilities if a raise is not possible – for example, stock options, extra vacation days, attending a conference, flexible hours, being given an especially interesting assignment, and other such perks could also improve your situation and acknowledge your value.

5. Know that "no" doesn't mean "never"

Despite the potential hurdles, organizations are always well-served to recognize employees with needed skills and compensate them accordingly – especially since many of these employees are likely to move on if they don’t feel valued.

By the same token, let your employer know if you are interested in growing with the company and want to be considered for promotions and increased pay. The Tech Workforce 2020 research shows that 70 percent of the workforce say they “definitely” or “may” foresee changing jobs in the next two years.

Asking for a raise is an important part of the career development process, but timing is critical. If your request is declined, it’s not the end of the line. Continue excelling at your job, assessing your motivation and goals, and reviewing the reasons you deserve an increase, and revisit the conversation in a few months.

[ Are you leading culture change? Get the free eBook, Organize for Innovation, by Jim Whitehurst. ]

Simona Rollinson is ISACA’s Chief Technology Officer (CTO), leading ISACA’s technology team, driving the organization’s continuing digital transformation, and exploring new opportunities for harnessing technology to elevate the educational and professional development experiences for ISACA’s members and enterprise customers.

7 New CIO Rules of Road

CIOs: We welcome you to join the conversation

Related Topics

Submitted By Kassie Rangel
September 25, 2020

Looking to land a new IT job? Move your resume to the top of the list by avoiding these three common pitfalls

Submitted By Kevin Casey
September 24, 2020

Many organizations are moving security as close to the start of the software development lifecycle or CI/CD pipeline as possible. Containerization and orchestration can help with security and compliance as you make that shift.

Submitted By Stephanie Overby
September 24, 2020

Are you considering whether to make a career move – or well on your way to exploring new job options? These TED Talks offer career shifting advice from a diverse group of experts.

x

Email Capture

Keep up with the latest thoughts, strategies, and insights from CIOs & IT leaders.