After several years of flat or declining salaries for workers with security clearances, the defense industry is on the rebound. The government reduced the size of the cleared workforce by 12 percent in 2014. That means fewer individuals with clearances, and more demand for your skills. If your boss has been giving you the slip recently, this may be the year he or she finally shows you the money.
In a recent ClearanceJobs survey of defense industry professionals, 85% of men and 74% of women said they expect a pay raise in 2015. Of those expecting a pay raise, 34% expect a three to four percent pay raise. Thirty one percent expect a five to seven percent pay raise. And the remainder are either more – or less – optimistic.
When it comes to asking for a raise, timing really is everything. It’s generally best to raise the issue during your annual review. Use that opportunity to highlight your accomplishments over the past year and then — make the ask. An exception to that rule is if you’re an all-star performer, you recently took on new responsibilities, or if you’re in a very competitive industry. If that’s the case, it may be effective to make your argument for a raise outside of the review process.
Right now is probably not the time to shoot for the moon – you could end up unemployed and not in the stars. Asking for a 10 percent pay raise probably isn’t realistic, unless that’s the standard in your company and industry. Find out the average (probably two or three percent), and make a reasonably high request. A realistic number is probably still under five percent.
If you really want a raise, make sure you never stop networking. Keeping in contact with recruiters and knowing your market value is one of the best ways to make sure you’re being paid what you’re worth. For women who feel that pay disparity is an issue, this is even more important. The Obama administration recently signed an executive order prohibiting federal contractors from retaliating against employees who talk about their salaries or other compensation information. So if you feel you’re being paid less than your male counterparts, ask your human resources department or boss. Don’t go on the offense, but do highlight your skills, your commitment, and the reasons you should be getting the salary you deserve.
Talking about money isn’t easy. But it is necessary. This could be the year you’ll start getting paid what you’re worth – but first you have to ask for it.
