Tackling a Stagnant Salary
Has your executive assistant salary stagnated, even though you have been working for your employer for a while? When your wages stagnate, it can be easy to get disheartened and lose motivation for your work.
According to the Bureau of Labor Statistics, Executive Assistants earn a median salary of $60,890 per year. While actual earnings vary according to several factors – including location, experience, and seniority – if it has been some time since your last salary review, it’s time to act. In this article, we talk you through how to ensure you are being paid what you deserve.
Getting a Salary Increase as an Executive Assistant
SnackNation’s 2018 State of the Executive Assistant Report shined a light on how vital executive assistants are to their company’s operations. Over half of executive assistants now support three or more executives, and the task load has grown to include responsibilities in IT and HR.
With the complexities of the job increasing, it is only logical that the salary for an executive assistant should increase too. If your salary has stagnated, here are some tips to get it moving again.
· Request Feedback from Your Superiors
Talk to your supervisors. They may be able to shed light on why you have not had the salary increase you were expecting. Maybe there are areas of your work that could use improvement.
Alternatively, they might tell you that you are doing a great job and you can use this opportunity to press the topic of your salary.
· Know What the Standard Pay Is for Your Position
If you are going to ask directly for a salary increase, it is imperative to know the going rate for an executive assistant. Some things to factor into your calculations and research include your state, your city, the industry you work in, your skills, your experience, and your responsibilities.
· Prepare a Case for Why You Deserve a Raise or Promotion
You’ll need to demonstrate your value to your employer. Prepare your case by noting your current responsibilities, the tasks you undertake, and how much time you save senior executives. If you can translate this into a monetary figure, this will help to prove the value-added work you do – extremely useful evidence that supports your request for a salary increase.
Consider, too, the new skills that you have learned since your last salary review and any new responsibilities that you have assumed (especially if you have taken on some duties of an employee who has left the company).
· Don’t Be Hesitant
If you feel that it’s time for your salary as an executive assistant to be reviewed, don’t hesitate to ask your superior for a meeting to discuss your salary. Armed with evidence of your performance and knowledge of market rates, your request will be hard to refuse.
What If Your Salary Request Is Refused?
There are options open to you if your superior does refuse a salary increase. These include:
- Asking what standards you need to meet or what results you would need to achieve to warrant an increase in pay.
- Offering to do more – taking on extra responsibility and expanding your role could push your supervisor into increasing your salary.
- Request a future review or specific time frame to revisit the salary discussion
To Sum Up
For an executive assistant, a stagnant salary can be demotivating. Sometimes leadership needs to be encouraged to realize the hard work you do, the effort you put in, and the real value you add to the company. Be proactive when seeking a salary increase, using the tips above. Request a meeting with your supervisor, state your case, and be prepared to adjust to earn more money. If you are currently looking for a new executive assistant role, contact Lakeshore Talent.