What about my pay-rise?

Today's world of work makes it easy to be swept up by the allure of perks. From team outings and branded swag to casual Fridays, these gestures create a sense of belonging and boost morale. But as a Business Psychologist, I’m compelled to ask:

"Are these perks helping or hindering us from pursuing what truly matters — fair compensation?"

This topic struck a chord with me after reading an email from Vestpod that framed this issue perfectly. It’s time we talk about it.

Substance Over Surface Perks are pleasant but temporary. They’re the icing on the cake, not the cake itself. Leaders and employees alike should recognise that while these offerings can boost short-term satisfaction, they’re no substitute for long-term financial wellbeing. It's vital to focus on sustainable value — the contributions you’re making to the organisation and how that’s reflected in your pay.

Know Your Worth One of the most empowering steps you can take is to understand your market value. This applies to employees, freelancers, and entrepreneurs alike. Tools like salary calculators and industry insights give you the data to make an informed case for fair pay. Knowledge is power, and in this case, it’s also leverage.

Advocate, Don’t Just Appreciate Gratitude is a powerful mindset, but it shouldn’t be weaponised to keep people in a state of acceptance. Yes, acknowledge the perks, but don’t let them pacify your pursuit of a fair salary. Research has shown that intrinsic motivators (like perks) can only go so far. Financial recognition remains a key driver of long-term engagement and retention.

Freelancers, Beware the “Exposure” Trap For freelancers and business owners, the “exposure” promise is a well-worn tactic. While exposure has its place, it’s rarely a substitute for fair pay. Psychologically, working for free in exchange for “exposure” can damage self-worth and undermine the perceived value of your work. Clarify terms at the start and demand specificity on outcomes.

Set Clear Boundaries When perks start to overshadow fair compensation, it’s time to draw a line. One effective way to navigate this is with open, honest communication. For instance, if you’re offered a perk, consider responding with: “Thank you, I really appreciate this. I’d also love to discuss how we can align it with my broader career goals.” This approach maintains gratitude while signalling that you’re thinking about your future.

Financial Framework Finally, we’re all operating within a “financial framework” whether we acknowledge it or not. Ask yourself: "Does this perk support my financial ambitions — be it income, savings, or wealth-building?" If perks consistently overshadow pay, it’s worth reassessing your position. The psychological cost of being underpaid can have long-term impacts on well-being, confidence, and mental health.

What’s Next? Organisations that rely too heavily on perks risk disengaging their workforce. Perks alone do not build trust, nor do they secure loyalty. Leaders must ask themselves: Are we providing short-term “feel-good” benefits, or are we enabling genuine, long-term career development and financial growth for our people?

For employees, remember that your self-worth isn’t measured by how many branded hoodies you’ve collected. It’s measured by the impact you’re having and how that’s being recognised financially.

This isn’t a rant against perks — they’re lovely. But lovely doesn’t pay the bills. Let’s enjoy the perks, but let’s not lose sight of the ultimate goal: fair, meaningful compensation for meaningful work.

Dannielle Haig (HCPC, MBPsS)

DH | CONSULTING

www.DannielleHaig.com