Wondering whether it’s appropriate to talk to your upper management about financial problems? Our career coach offers a few tips to help navigate tricky office conversations.
Question: Is it appropriate to approach your boss about financial issues? Denise, Oxford
Approaching your boss about financial issues depends upon the situation and what you think they can do.
If you want a pay rise, ideally you’ll have evidence that you’ve earned one. You can’t just rely on a rise in the cost of living or financial difficulties to make your case.
Good evidence would be referring back to previous objectives that you’ve been set, and showing that you have met and exceeded them.
If you weren’t set objectives, you should still compile a list of tangible, measurable outcomes that you have achieved in the last 12 months. Think about bullet points you would add to your CV -achievements, not responsibilities – and you’ll be on the right lines.
If it comes to a negotiation, think creatively about your compensation, because it’s more than just salary.
It could include bonuses, pension contributions, healthcare plans, gym memberships, or season ticket loans for travel. Having a range of things to negotiate on can help your boss find a solution if they’re constrained by their budget.
Some employers can also be flexible about giving you loans or advances on your salary, and many large employers offer Employee Assistance Programs (EAPs) that can provide advice on managing your finances.