A senior HR leader I work with shared that he had an employee bring in a job posting recently for a job they viewed as like the one they were performing. The employee asked for a pay increase because the base salary range on the job posting was higher than what they were earning.

He asked how I would respond to the employee. I said, “One data point isn’t the market.”

That base salary range on the job posting may or may not be the full range for the job at that one company.
That one company may have a different pay philosophy than the company you work for.
The revenue size of the employer makes a difference. Typically, larger employers pay more than small employers.
The type of industry matters. For example, manufacturing typically pays less than technology firms.
The location where the work is performed matters. If you work in Lucas, Kansas, the pay will be less than if you work in Denver, Colorado.

Be careful about the compensation data you use to support your request for a pay increase. Make sure it accurately represents the external market (aka the MANY other employers that your employer views as their competition for talent).

You need to have:

(1) Quality compensation data

AND

(2) a compelling story that describes the results you deliver in the context of what your employer’s decision makers care about.

Without these two things, you won’t have a high probability of getting a pay increase.

And if you want a Pay Negotiation Coach to help you ensure that you ask with the right data and story, we should talk.

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