MKE Accountant:
That's my first year as a Staff Accountant (graduated in May)
Response: As a Staff Accountant and recent graduate, you should focus on gaining experience and increasing responsibility in order to get a raise. Outside of the annual % increase & bonuses, stable companies are not eager to increase pay.
I heard when you get the CPA, you can ask for a salary increase, but I am not sure how to deal with that. Our company does compensation reviews annually. So, when I get the CPA, who should I ask for the salary increase? HR, my manager, Controller? I have no clue… What's the right way to do it?
Response: If you have built a reputation for specializing in something or have otherwise made it hard for the company to find someone with your skillset in the market, asking for a raise makes sense. You have to sell the idea. Begin first with your manager because he/she should know you work quality and can justify the increase to HR and higher ups. Go into the meeting prepared to give examples of the increasing amount of work that you have done or successful projects that warrant an increase in pay. If a senior position or staff accountant 2 position exists, you should at least be knowledge in the responsibilities of that role before asking for an increase.
How much should I ask for 5,000-7,000 increase or less.
Response: Shoot higher than you want and let them negotiate down. Asking for a percentage increase sounds better than asking for a dollar amount.
And, the MAIN THING, if by the time they do the annual review am not done with the CPA (the review is January, I will be done by June), can I still ask for a raise???It's just, I am in the industry and the license is not required here.
Response: Don't ask for the raise until you have gathered enough examples of why you deserve the raise. Being prepared is the best support in your case. No, the CPA is not required in your current role, but sell the idea of how the breadth of knowledge can be helpful on special cross-departmental projects and throughout the organization as a whole. Be willing to volunteer yourself for projects.
IF you like your job, the worse thing you can do is not ask and just switch companies because of the pay. I'm working at my 3rd company post-bachelor (2nd post-MBA). The 1st company-change provided a 12% bump in pay. The 2nd company-change provided a 17% increase. Lilla was very right about how changing jobs can increase your pay, significantly, but increasing your responsibility and cultivating your skillset with each position is key, even if the title is the same.
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