In this article (and video above), I provide you with some tips that you can use to negotiate a higher salary after obtaining your PE License to enable you to negotiate the compensation that you deserve. These tips will help you earn more as a professional engineer and I strongly recommend that all professional engineers read this.
I often get asked by engineers if they will receive a salary increase, or even a promotion after obtaining their PE license. Well, it really depends on several factors such as company policy, your new billing rate and your company’s multiplier which affects your maximum annual salary. How much you get paid also depends on how well your company is doing financially and how much you are directly contributing to this. Some employers may want to pay you more, but are unable to reasonably do so if the company isn’t pulling in enough money. So, the bottom line here is that if you would like to get paid more, you will have to speak up, and ask for it. Now, I know that is not always easy, however here are a few tips that you can use to negotiate a higher salary:
1. Do Your Research
Prove you deserve a promotion and/or higher salary like a true engineer would, with facts and figures from credible sources. A great way to begin your research is by looking for average salaries of professional engineers by industry and location. You can start by looking into some of the major engineering societies, like NSPE, IEEE, AIChE, ASME, ASCE. Although you might need to pay for the latest information, older research is available for free, and these organizations have already done the hard work for you by conducting the research. Use the information they provide to your full advantage.
2. Selling Points
Once your research is complete, tailor your findings and format them into easy to interpret deliverables for your manager, and as tools for the discussion with your manager. Prepare for the discussion using your results, and practice until you have nailed the key pointers.
Here are some pointers to remember and practice for why you should be separated from your peers in terms of pay and rank:
- Many engineers have graduate level degrees, but few have their PE license. The license brings prestige to your company and team. Back this up by finding out how many PEs work for your company.
- Besides being able to legally sign off on engineering designs, with some experience, you can also serve as an expert witness in a court of law.
- In some States, there is a ranking of engineering companies based on the number of PEs they have, so by becoming one, you may have just moved your firm up the ranks.
3. Timing is Everything
Choose the right time to ask for a raise. If you’re currently studying for the exam, wait until you’ve obtained your license. You’ll have more leverage when you approach your employer. Have you started a new job in the last three months? Forget it. Wait for at least six before you ask for a pay raise.
Once you’ve updated your resume with your new skills, talk to your boss. Choosing the right day of the week to do so could land you a salary increase. “Believe it or not, there are actually good and not so good times to talk about money in the workplace,” says Ginger Dean, from Forbes magazine. “Mondays are bad, Fridays are good and mornings are always better. Who knew?”
4. Post-Meeting
After the meeting is done, thank your manager for his/her time, and then wait for a decision. Remember that raises/promotions can take a long time to become approved. It is not unheard of for approval processes to take months to go through due to the number of approvals and signoffs from multiple departments. Not only does engineering sign off, but Human Resources usually has a stake in the matter, and at times, executive leadership does too. A common misconception is that companies do not compete internally; however, they definitely do. If you get an offer from another company, or even internally, you can use this as leverage to get what you want (possibly even sooner) in your current position. The last thing to always remember when you would like to negotiate a higher salary is to stay vigilant, and to not allow yourself to become discouraged. The worst thing that can happen is that your management says no…and that is when the negotiation really begins!
Reference:
How to Negotiate a Higher Salary After Obtaining Your PE License
This Episode Is Brought to You by PPI
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I hope you found this article helpful. In upcoming articles, I will solve some more PE exam practice problems and answer other questions from our subscribers. Pass the PE Exam videos will publish weekly, so be sure to click the subscribe button so you don’t miss something that could make a substantial difference in your exam result.
Lastly, I encourage you to ask questions in the comments of this video, or on this page and I’ll read and respond to them in future videos. So, if there’s a specific topic you want me to cover or answer, we have you covered.
I’ll see you next week… on Pass the PE Exam
Anthony Fasano, P.E.
Engineering Management Institute
Author of Engineer Your Own Success
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