There comes a moment in your career when it's time to ask for a pay rise. The question is, how? Some don't find this hard at all but others simply can't make themselves ask the question. Worry not, because I'm here to tell you the best way to negotiate your pay rise!
Prepare to Ask for a Pay Rise
Asking for a pay rise can be scary and stressful but it doesn't have to be. Especially if you've been working hard and can provide proof of that. What's more, there's a staff shortage and recruiting takes time as well as money. No employer wants to risk a talented and hardworking employee so make your case and ask the question.
Now, to make that case you need to prepare some things. Never go on a whim and ask straight out without any arguments or proof. Don't waste both your time and your chance. Here's what you need to do:
- Look at your achievements
Take time to look back some on the projects you've completed and the progress you've made. Make sure to use specific data and showcase how that helped the company. Whether that was an increase in income, sales, or stakeholder relationship - prove it. Your manager or boss can't remember every achievement of all their workers. So, show them how successful you are.
Use tools that tell you how much people with your job title make in your area. Is it significantly more than you? Well, ask your boss why. Use that to negotiate better pay. Show that you know your worth. Especially if there's a staff shortage in your industry, it automatically lifts your market value.
Moreover, have you recently finished any qualifications, got certificates or even graduated with a degree? That adds to your value. You've gotten more knowledgeable in an area and can now do more and do better. Degrees and qualifications showcase you're a focused, driven and dedicated person which adds to your net worth.
I think it's safe to say that more experience also means more skills and knowledge. Do you have a good client relationship or know more about specific programs, sectors etc.? Use that to justify a higher-than-average salary.
Don't disregard the power of soft skills like teamwork, flexibility and good communication. According to the University of Law, Communication skills (90%) and Relationship Building (83%) skills are the most sought after by employers. So, if you got those and some, make that an argument.
When to Negotiate a Higher Salary?
I think we all know that we're more likely to be given something if the person we're asking is in a good mood. The same rule applies here. If you see your manager looking happy and you've built a strong case for yourself, go for it.
- Annual performance review
This comes as the most natural time to touch on the subject of your pay rise. If your review shows you've achieved plenty, it's almost expected to see if you recognise your worth and ask for more.
- The end of a financial year
It's a good time to see if you have the chance for a salary as the company assesses results and makes forecasts.
How to Ask for a Pay Rise
Now that you've prepared all evidence and chosen the right moment, it's time to ask the question. However, make sure exactly what you're going to say. You don't need a script but be sure to mention everything you need.
Here are a few tips to keep you on track:
Start off by stating your intention and asking if this is an appropriate time to discuss it. Present all of your arguments for WHY your manager would give you a pay rise. Further, go ahead and ask for more than what you expect but don't exaggerate it. Give yourself a bit of space left for negotiation.
- Stay confident & grateful
Don't lose your confidence the minute you feel it's not going well. Keep making your case and let them see you believe to earn more. Moreover, show gratitude for the opportunities your company has given you and even the fact that you're having this discussion.
I feel as If I don't need to mention it but I guess it won't hurt. The day you ask for a pay rise, look professional. If there's a dress code in your place of work, make sure to dress appropriately. Be aware of your body language. Use gestures and keep a posture that speaks you're confident. And importantly, make eye contact with the person you're speaking to.
What to Expect When Discussing Your Pay?
You can be sure your manager or boss will have some questions for you. For example, why do you think you deserve this pay? Or what more can you offer to the company for a higher salary?
On the other hand, you will have your chance to ask your questions too. If you are successful you might ask what new responsibilities will come with it. However, if you won't be getting a pay rise now you can ask if not now, when will it be possible.
That's also why I suggested you should ask for a higher salary than you're aiming for. You can almost be sure that your first ask won't be granted. However, there's always room for negotiation.
Okay, so you didn't get more money. Nevertheless, that doesn't mean you can't compromise on other benefits such as holidays, performance bonuses, pension contributions or remote working possibilities. There are still some things you can negotiate. Even if it's just a title change.
Ready, Steady, Go!
Now there's no excuse for you NOT to ask for a pay rise! Hope you found this wee guide useful and can incorporate some of the tips when you need them. And if unfortunately your boss didn't agree to anything that you asked for and are searching for a new job, you know where to look :)