How To Get A Pay Rise
How much are you worth? Or rather is your value what you are being paid? If not then you may feel you need to ask for more. This is something that scares most people, it is also very difficult to do this when we are in a pandemic and some employers are struggling to get back to normal. The fact is there is no right time to ask for a pay rise but no one ever got sacked for asking. It could be seen as a positive by an employer as it shows ambition and that you want to stay with the company. But there are good ways of asking for an increase and there are bad ones. So here are some of the dos and don’ts when it comes to asking for money. Here are some tips.
Do your research
Check out what you are worth. Look at jobs being advertised that are similar to yours and in the same area or talk to a recruitment agency and find out what kind of pay your job is valued at. You need evidence to back up your request for a pay rise this could be things like you’ve achieved your sales targets, you have met all goals you have been set or you have taken on more work and more responsibilities. Remember it can be surprising how little the person who decides your salary, especially in a large organisation may know about what you really do.
Don’t just randomly demand more money
Believe me if you decide to ask for more money the first thing your boss or the HR manager is going to ask you is “ why should I give you a pay rise” So don’t make yourself look foolish or naive, have your reasons for asking clear in your mind. Saying that you need more money to pay the rent or socialise more will not get you a wage increase. Pay needs to reflect your performance and the performance of the company itself so needs to be negotiated seriously and in a professional way.
Do make sure you pick a good time to ask
Choose a moment when everyone is in a good mood, for instance after the successful completion of a project. Or find out when your company plans its budget so you can be sure you aren’t asking the impossible. Another good time to ask is when you are celebrating an anniversary with the company. I.e.: you’ve been there for a year. Mondays are best avoided completely as are first thing in the morning. The best day to ask for a pay rise is Friday after 2pm when everyone is in a good mood and looking forward to the weekend.
Don’t jump the gun when asking for an increase
If your salary has been increased in the last year or you’re new to the job you are going to have to come up with some pretty good reasons why you need another one so soon. Too many people start a new job and in a short period of time think they are entitled to more money. Why take the job in the first place if it’s not paying enough? A payrise is usually given for hard work, length of service or loyalty. You have to earn financial rewards.
Do make sure you compare your salary with your colleagues
Increasingly companies are structuring their pay into bands, reducing the need for individual negotiations. For employers it is very useful to have a structure. If they don’t and start paying different people different amounts for doing the same job, they can cause themselves a lot of trouble. So make sure you are earning the same as your colleagues if you’re not it’s time to ask for a pay increase.
Don’t ask for more money than your colleagues
It would be very naive of you to expect to earn more than your colleagues who are doing the same job. Unless you can demonstrate you contribute more than your co-workers why should they pay more? Be real, you are not going to be paid more than anyone else.
Do be confident when you ask for more
When you sit in front of your Manager or an HR representative confidence is the key. Sit up straight, make eye contact. Speak slowly and deliberately and use hand gestures to reinforce your points if this is your natural style. Remember to have your reasons prepared as to why you deserve a payrise. We all do more than our job description tells us to do so it’s perfectly okay to ask to be paid for it.
Don’t be nervous when asking for what you deserve
Whoever you are talking to, be it your line Manager or an HR representative will have surmised why you have asked to see them. Employees only ask to see managers usually for three reasons. 1) To complain about your job. 2) to hand in your notice. 3) To ask for a pay rise. Believe me they will be expecting your request, they will probably be relieved that you are not complaining about someone or handing in your notice and you never know that relief may make them say yes, yes , yes straight away.
Do know what increase you want and ask for it
This may seem odd but believe me if you ask for a specific amount of increase, researchers have proven that you are likely to get it. People don’t like to negotiate and they definitely don’t like to haggle so be clear about how much you want. Make your request reasonable and imply you have done your homework and know your worth. You may even be surprised how easily you get a yes.
Don’t be vague about how much you want
Be specific about the amount you want, make unit a round number. If you ask for £1245.25 you may have to explain what the £45.25 is for or even the £245.25! Make your request reasonable and easily justified. Do not outprice yourself though because that way you may get a big, no, no, no.
Do talk about the future
There is more to work than just pay. There are other things that affect your happiness at work. Flexible working, holiday’s benefits. These are all things you could talk about. If you can’t get more money perhaps other benefits could make up for that. For instance flexible working hours which would allow you to miss the rush hour. Express how happy you are in your role and how much you are looking forward to be long career with the organisation and how either a pay increase or other benefits would make your world perfect.
Don’t give up
If you don’t get a pay rise now ask when you can expect your salary can be renewed. Don’t feel rejected what you have done is laid the foundations for the next decision. And of course if you feel really strongly that you are being underpaid you can always leave. Having asked for a pay rise and not got one the threat is there and employer will realise this. The best companies are getting the best employees by offering more and that’s the way it should be.
Lastly often it’s about getting your timing right and knowing your employer, always be realistic with your request, don’t overprice yourself. Fingers crossed you’ll be okay