Latest / Career Coaching with Fexingo: Professional Coaches, Career Counselors, and Guidance for Workers / How a Career Value Memo Boosts Your Salary Negotiation
Transcript
- Lucas: So last week a listener named Sarah wrote in with a situation that I think a lot of you have faced. She went into her annual review expecting a promotion, and her manager said—quote—'I'd love to, but there's no budget this year.' Luna: Oof, the classic deflection. What did she do? Lucas: She didn't accept it. Instead, she spent the weekend writing what I call a career value memo—a one-page document that laid out every project she'd led, every dollar she'd saved or earned the company, and the market rate for her role. She walked into a follow-up meeting, handed it over, and walked out with a fifteen percent raise. Same budget cycle. Luna: Wait, so the 'no budget' was actually 'not enough leverage'? Lucas: Exactly. The thing is, most of us go into salary conversations without a written case. We rely on memory and goodwill. But a value memo shifts the frame from 'I want a raise' to 'Here is the data on what I'm worth.' And that's much harder to say no to. Luna: What did she include exactly? Give us the structure. Lucas: Sure. She used four sections. One: key accomplishments from the past twelve months—with numbers attached. Not just 'led a project,' but 'led a project that reduced customer churn by twelve percent and saved an estimated two hundred thousand dollars.' Luna: So quantifying everything. That's a lot of work if you don't track it regularly. Lucas: It is, but it's worth it. Section two: responsibilities she'd taken on that weren't in her original job description. She had started managing a junior team member and overseeing vendor contracts—both outside her role. Luna: Scope creep, but used as leverage. I like it. Lucas: Section three: external market data. She pulled salary bands from five sources—the Bureau of Labor Statistics, Glassdoor, Levels.fyi, and two industry-specific surveys from her professional association. She found she was ten percent below the median for her title and location. Luna: And the fourth section? Lucas: Her specific ask: a new title and a salary range. She didn't demand an exact number; she gave a range with a floor she'd accept. That's a negotiation best practice—it gives the other side room to say yes. Luna: What about the manager who says, 'I see your data, but I genuinely have no budget'? Does the memo still work? Lucas: It might not get you an immediate raise, but it does two things. First, it documents your case for the next budget cycle—you've put a stake in the ground. Second, it forces the manager to either advocate for you or admit they won't. And if they won't, you now have a clear signal that it's time to look externally. Luna: Right. And that memo becomes your resume's anchor for that external search. You've already done the work of articulating your value. Lucas: Exactly. That's why I suggest people update this memo quarterly, not just before review season. After every major project, add a line. By the time you need it, it's already written. Luna: How long should the memo be? Could it be more than one page? Lucas: I'd keep it to one page. Managers are busy. You want them to scan it in under two minutes. Use bullet points, bold key numbers, and a clean header with your name and the date. Think executive summary, not memoir. Luna: It's almost like building a personal business case. And the data part—Levels.fyi and Glassdoor—those are public, but how do you know they're accurate? Lucas: They're not perfect, but triangulation helps. If three sources agree on a range, that's credible. Also, professional associations often publish salary surveys that are more reliable. The key is to find the median for your role, industry, and geographic region. Luna: One more thing: what if your manager is the person who determines your salary and you're worried about damaging the relationship? Lucas: That's a real concern. But a well-prepared memo, delivered with respect, shows you're serious about your career. Most managers respect preparation. And if they don't, that's another signal about the kind of culture you're in. Luna: Fair point. So Sarah's story really illustrates the power of putting pen to paper. I think a lot of us avoid these conversations because they feel confrontational, but this framework makes them collaborative. Lucas: Exactly. And that's a big part of why we do this show—to give you concrete tools that make those tough career conversations easier. We deliberately don't run ads on these episodes, because we want you to get unvarnished advice without any product pushing. Luna: Yeah, and listener support is what makes that possible. If you've found this episode useful, you can help us keep the show independent. Lucas: Right. If you want to support that choice, the link is buy me a coffee dot com slash fexingo. That's it—no tiers, no perks, just knowing this kind of content stays free for everyone. Luna: And we genuinely appreciate it. So back to the memo: what's one thing someone could do today to start building theirs? Lucas: Open a document and list the three biggest wins from the past quarter—with numbers. If you don't have the numbers, spend ten minutes pulling them from your email or project tracker. That's your starting point. Luna: Simple enough. And then add one market data point this week. Even just one source gives you a baseline. Lucas: Exactly. Over time, that document becomes your career record—not just for raises, but for promotions, new jobs, and even performance reviews. It's one of the highest roi activities you can do for your career. Luna: I think Sarah would agree. Thanks for sharing her story, Lucas. Lucas: Thank you, Luna. And to everyone listening: we'll be back next time with another tool to help you steer your career with intention.