Whether you are asking for an increase or negotiating a job offer asking for a pay rise can be one of the more awkward tasks, but it doesn’t need to be.
Asking for a pay rise at any point can feel unsettling enough to prevent us from approaching the subject, but if you feel a pay rise is deserved you shouldn’t shy away. Remember preparation is key, without preparing and doing your research first your case will appear unsupported and you will not convey why this increase is deserved which could result in a negative outcome.
King Recruit have put together a guide on how to determine if you are due a rise and how you can approach the matter with Management in the right way.
What is your job role worth?
There are guides online as to how much the average salary is for your job role in your location, Glasses, Monster and Reed all do similar type comparisons. However, it’s worth doing some searching online to find job roles similar to yours, in your area and compare the salaries.
Be careful to check that the position matches yours and isn’t a more senior or junior role.
Remember different locations will affect the salary. Take into account your place of work, if you are in a large corporate company you may earn more than the smaller start-up firm.
The industry you work in will play a big part in whether or not there may money in the budget for salary increases. If the tough economic climate has hit your industry hard then it’s unlikely that there will be any pay rises, especially if there have been redundancies as a result.
Research competitor organisations pay structure and set your salary expectations accordingly.
What added value do you bring to the company?
If you are on the same salary as your peers it will be difficult for a company to give you a pay rise, therefore you need to ask yourself why are you worth more than average.
Determine what you bring to the table that your colleagues don’t. Demonstrate (use examples and statistics where possible) how you consistently achieve excellent results. Highlight the skills and the experience you bring to the role. Remember in order to justify a pay rise it cannot be a result of what you have done but what you intend to do in the future.
Ask for a meeting.
Next, ask your boss for a meeting. The easiest way to start the conversation is on a one to one level, ensure you are prepared before you request the meeting just in case they propose to speak with you that day.
Although this situation can be intimidating remember it’s just a conversation. This meeting will be a two-way street for communication, whatever happens, you can put your point across and answer any of their misgivings.
Timing is everything.
Has there been mass redundancies in your offices, or reported a loss, if so, this may not the ideal time to ask for a pay rise! However, if the budget has just been renewed and your company is performing then you will know that there may be money in the budget for a raise.
On a personal level when was your most recent pay rise? If you have had one within the last year think about what you have done to justify another increase so soon.
If you have had a recent meeting with your manager to discuss your performance and you have consistently hit and exceeded targets and outperformed your colleagues this is an ideal time to approach the subject.
The Big sell.
All of your research into your position, your successes and the salaries will now come into play.
Demonstrate your contributions to the company and your unique selling points, for the last and next 6 months. Don’t focus this all on generating revenue or savings it can be your expertise or showing how dedicated you are to the company.
Offering to increase your duties, take on extra responsibilities are good ways to prove that a pay rise is a good value for money.
Your Manager may not be the final decision maker, so writing down your case in a clear manner will help your manager communicate your case to decision-makers.
It’s not all about the money.
Sometimes there are simple, genuine reasons as to why a pay rise isn’t possible at this time.
If a pay rise is a no go doesn’t mean you can’t inquire about other benefits as an alternative.
You could ask for funding for further development or training courses. Enhancing your skills will pay dividends when it comes to market worth. Your new skills or qualifications will ensure you are a valuable asset to your business, meaning that next time around you have an advantage when it comes to pay rises and bonuses. Or give you an edge over another candidate should you choose to look for a new position.
Finally, turn a negative into a positive.
If the answer is a no it’s difficult not to feel disheartened or feel undervalued or unappreciated by your employer. However, ensure you remain professional; you still need to work alongside them.
Don’t close the door on discussing a raise again in say 6 months, this can be a great opportunity to prove consistency which will stand you in good stead.
This could now be an opportunity into moving into a new position in another company, who could, in turn, could offer you a greater salary and benefits package.
For CV advice or advice on any aspect of the job application process, please contact one of our friendly team at King Recruit on 01392 790725.
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