Asking for a raise in salary is never going to be an easy conversation to have with your manager. It can be nerve-wracking and sometimes self-doubt can set in.
Getting over your fear is the first step to conquer and get the raise you deserve.
We have put together some tips to help to ask you for that pay rise so you can feel confident and well prepared for doing so.
Know your companies policy
Most companies include salary renewal policies in their contracts. Take a look at yours to see what is outlined. Some companies work on an ad-hoc basis.
If this is the case the best time to approach your manager would be towards the financial year so that it can be considered in their yearly budgets.
Research your role
Start by researching the industry standards for the role you are in and the size of the company. Look at job postings and see what salary is being advertised for that position. Salary surveys are another way you can get an idea of the normal pay for your job.
Once you get an idea of what salary you should be getting paid compare that to the number of years you have been working at the company. Does your salary look lower, or is it below average? This is a good way to start negotiations.
Showcase your achievements
Before talking about money, showcase any achievements or project that you have had success in. Use figures and percentages to show real value. If you don’t have numbers talk about tangible & intangible benefits like how you streamlined a process or increased your team’s morale. The key here is to prove that you are worth a pay rise.
What if the answer is ‘no’
If the manager replies to your request with a firm ‘no’. You could try and negotiate extra holidays or even bonuses. Just because it was a no this time around doesn’t mean you shouldn’t try a second time, leave it 3-6mnts and then request another discussion.
Don’ts – When asking for a pay rise
- Make a request during budget cuts
- Ask if you’re not reaching your targets or exceeding expectations
- Ask when your manager is overloaded with work
- Bring your personal life into it
- Throw out your target salary