I think we’ve all been there… stuck in that awkward limbo of wanting a pay rise, knowing the value you provide isn’t reflected in your pay at the end of the month, but just not knowing how you go about asking for it.
Let me tell you about a recent conversation I had with a Treasurer…
He had a brand new CFO who didn’t seem to really know (or care) about what he’d been doing for the past two years. So, he came to me and asked:
“Mike, do you think I am going to have to leave to get a pay rise?”
Here’s what I told him:
“You don’t have to quit… YET!”
Instead, use these steps to make your case impossible to ignore:
- Dust off your “black book”
What’s the black book for? It’s one of your secret weapons.
Every week/month, try to jot down where you’ve saved or made money for the company:
- Did you renegotiate bank costs and save £50k?
- Did you improve working capital?
- Did you secure funding for a critical project?
These numbers add up.
By the time you sit down for your yearly review with the CFO, you’ve got a list of contributions that more than justify a bump in pay.
And if you saved the company your annual salary in just one week—well, the maths speak for themselves!
- Don’t forget the market reality
Treasury roles are in demand, and salaries reflect that. If your company isn’t paying market rates, there are others who will.
I’m not saying you should march into the CFO’s office with your resignation letter, but letting them know you’re aware of your market value is fair game.
Don’t make it a threat—make it a conversation.
- Get your hands on solid data
What’s the easiest way to show you’re underpaid? Cold, hard facts.
For instance, our Treasury Salary Survey compares salaries across 1,260+ treasury professionals GLOBALLY.
If your salary isn’t where it should be, you’ve got the proof in black and white to take to your CFO.
For example, if you’re a Treasury Manager in the UK, you might say, “This survey shows the average salary for my role is £79k. I’m currently on £70k, so we’re a little behind.”
It’s simple, factual, and far less awkward than the “But I work sooo hard!” argument.
