4 Tips to Get the Most Out of Your Salary Review

That time has rolled around again. Salary review time.

Are you ready for it? Have you spent the last 12 months gathering evidence of your great performance?

The reality of the Legal Industry is that performance and salary reviews are a delicate balance between rewarding staff and managing labour cost increases.

Here is our easy 4 step plan for approaching an annual salary review. It just may help you get what you are after!

1. Bring the Proof

Hopefully throughout the year you have kept evidence and examples of your great performance. Some people keep a specific folder in their inbox for positive feedback and small reminders of wins.

This evidence helps demonstrate you are deserving of a positive salary review. It should be evidence of situations where you have gone above and beyond to add value. It may be evidence that you solved a problem or improved a process. Some examples you might wish to consider are:

It is also a good idea to have an understanding of what the current market rate is for a Lawyer of your experience and speciality. We can help with this via our unique Legal Salary tool. Based on more than 5,400 anonymous survey responders, you can search your speciality, role and location here.

2. Take on Constructive Feedback

Your manager may have examples of situations you could have handled differently. They may offer suggested approaches to upcoming cases. Any kind of performance conversation needs to be a two way street, so don’t forget to listen! Ensure that you take on board any areas that they want you to focus on.

3. Is it a good year for the firm?

Any kind of performance conversation needs to take place within the landscape of the current economy. It also needs to consider the firm’s financial performance over the last 12 months. Hopefully you contributed by meeting your budget! You should understand whether company revenue is on target. You should have a high level understanding of prevailing current market conditions.

4. Don’t forget to ask the question!

You may be surprised how many people turn up for their annual salary review and simply do not ask for an increase. It can be as simple as stating “I’d like you to consider a salary increase.”

You may already have a figure in mind, it may be that this needs to be negotiated.

But they said No….

If you feel that your performance is impressive and your firm has been unable to meet your salary expectations, it might be time to move on. Generally speaking moving to a different firm will increase your salary, although not always significantly. Leaving an organisation for more money should be considered an extreme measure. You should also be sure that a new role will be challenging and offer career opportunities! If leaving is not right for you, start gathering evidence of your contribution for the next review cycle. And make it even more impressive!

If you are looking for a new role in the Legal Industry in Melbourne, Australia, then get in touch with us. We are specialists in the Legal Industry and recruit Lawyers, Support staff and HR professionals. If you enjoyed reading this article, you can follow our Company Page on LinkedIn for regular updates. These are specific to the Melbourne Legal Industry and career advice for legal professionals.