Work in FMCG and think it’s time your company gave you that pay rise?
At Michael Page Marketing, we’ve noticed that marketers in the FMCG industry who take a sideways move may not be achieving their full earning potential.
Accepting a role at the same level can be a great way to gain exposure to a new brand or area of marketing, but once you’ve proved yourself in a new organisation it may be time to negotiate a pay rise. Read the follow tips to prepare yourself:
Find out what your role is currently worth and benchmark your existing rate of pay with average market rates. Check out the FMCG market rates in the Michael Page Marketing Salary Survey.
Prepare to fight your corner by proving what value you add to the business. Tangible results speak volumes so do your research before you approach your manager for a meeting.
If your FMCG organisation is based in a very competitive region and your knowledge and expertise are in demand, then you may be well placed for salary negotiation. If you’re moving from a larger corporation to an SME, then you may not be able to command as high a salary as you’re used to, so take this into account too.
Think carefully about when the best time to negotiate a higher salary is – off the back of a strong and successful campaign is usually a good time to prove your worth. If your organisation is going through a restructuring process and cutting costs, they may not be in the position to offer you any higher remuneration.
If you go into a meeting with your manager or potential employer and give them a sensible figure, they’re far more likely to be open to having a conversation about pay. Be patient and listen to their point of view, if they feel you’re not meeting targets then you may have to wait a few months while you prove yourself.
Negotiations work both ways
You might consider proposing a slightly higher number than your research shows you’re worth – this gives you some leeway if your manager comes back with a much lower figure.
You may have spent time developing a very specific skill set, but this doesn’t necessarily make you worth more to the role. If you’re asking for a pay rise because you feel your role has changed, consider your competition. There might be plenty of more qualified and more experienced people at your organisation already specialising in the field you’re moving into, who could be worth more.
Before you make the decision to negotiate a pay rise, use us as a sounding board. The more we know about your skills and experience, the better we can advise you. At Michael Page Marketing, our teams are divided up by sector so that we can offer our customers specialist focus. Our regional network and local market knowledge mean we’re well positioned to advise you on salaries for different marketing roles in different businesses, taking into account your previous experience and skill set. So, don’t hesitate to get in touch with your Michael Page Marketing consultant for advice on how to negotiate a pay rise.
If you’re starting the search for your next role, get in touch with your local Michael Page Marketing team.