Asking for a Pay Rise
Often in this world the old saying is true – if you don’t ask, you don’t get. We’d all like to be earning more money but unless you ask for a pay rise, your company may not think about giving you one. Before you ask for a salary increase you need to do your homework. Find out what other people in similar roles are being paid, be clear about what you want, and plan your argument using practical examples about why you are worth it. Pick a suitable time and stick to your guns about what you want.
Know What You’re WorthHow much your colleagues earn is often a bit of a hushed subject. Before you ask for a pay rise you need to find out what the market rate is. If you can’t find out this information within your company then do your research to find out what other people are earning in your role. Look on the internet, scour the job ads or speak to recruitment consultants to get an idea. Take into account your experience, how long you have been in the role, the size of your company and your location.
Pick A Good TimeWhen you are asking for a pay rise you need to pick a good time to do it. If your boss is stressed or busy, or the company isn’t doing well, they are not going to be willing to discuss pay. Pick an appropriate time, such as a yearly Appraisal, or when you have completed a big project, so your boss is more aware of your work. Make an appointment to give you both some clear time to discuss your request.
Prepare Your ArgumentHow ask for a pay rise is all about preparation. You need to do your research, know what you want and then decide how you are going to Prove To Your Boss that you are worth it. Prepare clear, practical examples of what you have done to help the company, or how you have worked beyond what it asked of you. Be able to show why you are now worth more than they are paying you.
Know What You WantOnce you have found out about other people’s pay you can establish how much of pay rise you should ask for. Argue your case, present your examples and be clear about what you are willing to settle for. If your boss offers you less will you take it? If they say no are you willing to stay in the job? Would you be willing to accept training or benefits as part of the deal? You need to make your mind up and stick to it so your boss knows you mean business.
Asking for a pay rise is always a tricky situation and you need to make sure you are prepared. Do your research and know what you want, then prepare your arguments and examples to prove that you are worth it. Pick a suitable time, put forward your case and be clear about what you are willing to settle for.