So, you’re looking for ways to make more money? In our post Five suggestions to make some more money! one of our recommendations was asking for a pay rise at work. It’s not an easy subject to broach but here are our top tips for negotiating a pay rise successfully:
- Do your research – this is really key as you need to be able to speak confidently about what the market rate for your role is. There are plenty of “salary surveys’ available online, produced by recruitment agencies so this is a good place to start. Be sure not only to search for the role type your position falls into but also the industry you work in.
- Consider when it was that you last received a pay rise and make sure the timing of your request is reasonable – if it was 2 months ago then realistically it’s probably not an appropriate time to ask for more money. However, if it was 12 months plus ago then it is absolutely a fair request.
- Think about why you deserve a pay rise – saying that you need more money for your mortgage/rent/childcare etc isn’t going to cut it. Your employer is a business and with no disrespect to you personal circumstances or life choices, it’s of no concern to them. What you need to focus on is your skills and experience and how in demand they are in the market. So focus on things like, have you taken on more responsibility, have you done some additional training/courses that have developed your skillset etc?
- Write down your key points – so that you are clear and able to communicate your points calmly and concisely when speaking with your boss.
- Book a meeting with your manager – approach the meeting in a calm and focused manner. Explain that you would like to request a pay rise and go through the reasons you have listed and take any emotion out of it! This isn’t a time to complain! Chances are that he/she will ask for some time to consider your request.
- Respond in a professional way (no matter the outcome) – if your request gets accepted – excellent! However, if it is declined, it’s important that you respond in a professional way. Ask for the reasons as to why your request has been declined and, most importantly, when your current pay will actually be reviewed.