This episode dives into the crucial topic of fair pay and the steps necessary to boost your earnings. We'll guide you through common discussions about ensuring equitable compensation and how to approach your manager when seeking a raise.

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We’re collaborating with Payscale, a leader in pay equity, to provide you with essential insights and strategies for effective salary discussions. The Let’s Talk Fair Pay Workshop is scheduled for Tuesday, June 21st, from 1:00-2:00 PM EST, where you can ask questions and engage in role-playing with experts.

Payscale’s 2022 Compensation Best Practices Survey reveals that half of organizations are revising their pay strategies this year, with 66% prioritizing pay equity analysis—a significant 20% rise from last year. This shift is essential as many employees hesitate to request raises or face unfulfilling responses. According to PayScale’s “Raise Anatomy” report, only 37% of employees have ever asked for a raise, and budget constraints are the most cited reason for denial.

In this episode, we’ll not only prepare you for the conversation but also discuss how to manage a denied request. Joining us is Ruth Thomas, an expert in pay equity and the Chief Product Evangelist at Payscale, who was a co-founder of Curo Compensation, acquired by Payscale in 2021. Ruth advocates for equal earning opportunities for all individuals. If you’re looking for salary data, Payscale is our go-to resource.

Listen as Ruth and I explore the significance of pay equity and its implications for workplaces, managers, and job seekers. We’ll also cover optimal timing for raise discussions—should you wait for annual reviews, or can you bring it up anytime?

We’ll address what information to present during salary negotiations and the typical company protocols for pay increases. We’ll get into practical responses for when your raise request is turned down. Sometimes, despite thorough preparation and data, the response can catch you off guard. We’ll provide you with common objections managers might raise and how to effectively counter them.

Here’s how to respond to some common pushbacks:

“There’s just not enough money in the budget.”

“Others have been here longer and deserve raises too, so giving you one wouldn’t be fair.”

“Your requested amount doesn't align with your role or this region.”

“You’re asking for over a 20% raise; I can only authorize 4% increases.”

“Your performance isn’t strong enough to justify that raise amount.” (Even if your reviews are stellar.)

It’s important to recognize that the pay landscape is uneven. According to Payscale’s 2022 Gender Pay Gap Report, women earn $0.82 for every dollar earned by men, unchanged from last year. At the executive level, women make only $0.95 for every dollar earned by men, even when job characteristics are considered. Are companies making strides to rectify this?

We’ll also address gender and racial pay disparities, especially when negotiating salaries in contexts of known inequalities. In our Mailbag segment, we celebrate a listener's career milestone and offer advice to another who finds themselves in a toxic work environment.