YouTube advice video (Self Made Millennial / Madeline Mann) explaining how to start compensation conversations before formal review periods. Recommends (1) signaling to your manager in regular one-on-ones that you aim to be a top performer and want a path to a raise, (2) co-creating and documenting a development plan with concrete goals and emailing it back as a dated record, (3) revisiting those goals regularly and using the performance review to restate accomplishments and request the raise while outlining future value. The video emphasizes aligning incentives so managers are invested in your growth and reducing surprise when pay decisions are made.
Chapters
Hey everyone. This is self made Millennial. I'm Madeline Mann. Most companies have specific times of year when they discuss compensation, but you don't need to wait until then to start talking about it. And frankly, you shouldn't. In this video, I will show you how to elegantly kick off the compensation conversation months early. Get your manager bought into giving you a raise, and then when it's time for the official change to happen, how to close the deal. First, let's talk about what to say in your regular one on one meetings with your manager. In your meetings with your manager, you should express two things. Number one, that you want to be a top performer, that you will do anything and everything you can to ensure the success of the team, and that you have your eye on getting a raise come review time. Number two, ask them to work with you to build goals and a development plan of expectations to to put you on the path to earn a raise. The magic of this is now they are invested in your growth as well and they understand your intentions. Now isn't this fantastic? You aren't asking for a raise, you're asking for a path to get a raise. This aligns incentives for both of you and makes it totally clear that you see performance equals compensation. Because let me tell you, many people pick up extra tasks, they stay late and they expect to be noticed. So like, why aren't you giving me a compensation increase? And as obvious as it seems that performance should be rewarded, it's amazing how rarely managers take the next step unprovoked to hand out compensation increase. This is generally for two reasons. One is they may not notice all of the little extra things that you're doing as much as you feel they should because they have a lot of other things ping ponging around in their brain. And two, because they didn't know that you feel that your compensation should be higher. They didn't realize that that was your intention behind staying later and all those extra tasks. So you should tell your boss how you're showing up every day. Bring in the heat going above and beyond and let them know that you've got your eye on the prize for that compensation increase. Second, after the meeting and then going forward, get that development plan down in writing and send it in an email back to the manager so that you both have it date stamped. Revisit the goals in your meetings with them throughout the year. And then when it comes time for this conversation suddenly becomes a lot easier because your boss knows that you are going to bring up a raise since you've talked about it a few times already. Third, what to say in the performance review. In the performance review meeting, restate the goals and the conversations from the past. You know, even bring in a printout of what you discussed before. And don't be shy about sharing your accomplishments. Say you said I would need to do XYZ for a raise. I did xyz and additionally I did abc. And then a great thing to do is also talk about the future. So you've addressed the past and then name ways that you see yourself adding more value in the future. Targets you plan on hitting, projects you would like to take on, areas you see yourself growing and becoming even better. So you know, it's like you've been a top performer up until this point and then you go and tell them all the ways that you are gonna add even more value in the future. I mean, it's just like when you're watching an infomercial of a product that can, you know, cure your sniffles and take care of your baby and paint your house. And you're like, this is amazing. And they go, but wait, there's more. And bing, bing, boom. Anxiety all around decreases a good bit and the likelihood that you get a promotion goes way up, baby. Now this advice is a smaller point of a bigger picture of how to get promot to rise to the C suite. So you'll want to watch three Keys to Getting a Promotion Over Others According to science, this video goes way beyond just this relationship with your manager and getting a raise. And this is for the ambitious people that really want to rise in their careers. These learnings change the game for me in my career and so I will link it for you to watch in the description. Thanks so much everyone. Wi fi high five.
