Negotiating a pay rise
Let’s be honest – we’d all like a bit more money! Unfortunately most of us feel uncomfortable asking for a pay rise and so we just stay quiet. This shouldn’t be the case, as you’re perfectly entitled to ask (as long as you haven’t had a pay review in the last few months). It’s essential you handle the situation delicately though so here’s our top tips for getting the salary you deserve.
First of all you need to be honest with yourself – why do you want a pay rise? Are you bored or unhappy in your work and thinking some extra money would make it easier to get through the day? If that’s the case then you’re probably going to be disappointed and end up looking for a new job whether you get the rise or not. If you do enjoy your job but feel as though you’re being undervalued then it’s time to do your homework.
Before you go in ask yourself:
- What’s the average salary for your role? Take a look at our salary survey and see how you compare to the rest of the market. If you find your earnings are below average, you’ve got a much stronger case for wanting more.
- Do you really deserve a raise? And be honest here! Have you met or exceeded all your targets in the last few months? Have you taken on extra responsibilities? Have you saved the company money or made a difference to the way the company operates? Maybe you’ve achieved a new qualification? You need to prove you’ve earned a raise and you’re not just being greedy.
- Ask for input from your Line Manager or other Managers you’ve helped out. If they can write a quick recommendation for you it’ll carry a great deal of weight by showing you’re valued by your colleagues and seniors.
- Who really has the power to give you a rise? Your boss probably won’t have the final say about your pay rise so write down all your major contributions for them to consider and pass up to the big bosses.
- Are you ready to take on extra duties? Be prepared for this question as your boss may feel as though your current role isn’t worthy of higher pay but suggest you take a step up in the company. Make sure you’ve thought about where in the company you see yourself in the future.
- How much do you think you should be earning? Decide on a figure then aim higher – not too much or you won’t be taken seriously. This gives your boss room to negotiate without leaving you feeling as though you’ve beenshort changed.
During your meeting remember:
- Don’t become aggressive or threaten to leave - you’ll just look immature and damage your chances of a pay rise in the future.
- Be professional at all times. Take a look at our tips for giving a perfect interview and bear these in mind.
What if your boss says ‘No’?
- Accept that your pay reflects the value of your role to the company and not your value as an individual. It may be that your boss cannot increase your salary for your current level no matter how much extra effort you’ve put in. If this is the case they may be able to set you on the right path to a more challenging, better paid role instead.
- If there are genuine reasons, such as economic climate or restricted budget, suggest a non-financial alternative to a higher salary such as further training and development or even a travel allowance, flexible working hours or an increased pension.
If you still feel you’re being undervalued then it’s simply time to look for a new role. Just make sure you accept the decision gracefully – you still need a good reference and you don’t want to get a reputation as being demanding and difficult to work with.