How to get a pay rise in 2018
Posted on Friday, November 10, 2017 by THE MSS TEAM — No comments
At the start of the new year, many people set resolutions to save more money. What better way to achieve that than to earn more money? But it’s not as easy as that. If you’re employed and feel like you’re due a pay rise, it can be a difficult subject to broach. You don’t want to overstep or sound like you’re being too demanding, but, at the same time, you want to feel like you’re getting paid what you’re worth.
A lot of people feel uncomfortable talking about money, especially with their bosses, but it’s time to face that fear and learn how to get that pay rise in 2018.
Build a case first
You don’t want to go into a one-on-one meeting with your boss completely unprepared. Take some time to think about why you deserve an increase in pay and build a legitimate case around this. Generally speaking, personal reasons such as “I can’t afford to pay my mortgage” or “I’m trying to save up for a holiday” aren’t going to work. They can make you sound desperate or unprofessional. Think, instead, about what you bring to the company and how you are helping it grow and profit. Having statistics related to this can help to support your argument.
Do your research
Conduct some research into other companies and their employees that hold the same or similar roles to you. Look at their skills, experience, and responsibilities compared to yours and how much their salary is. If you know people in the industry in a similar role, then they may be willing to share this information with you.
Otherwise, recruitment firms like us can be a good source of this data as well as websites such as LinkedIn and Glassdoor. If employees doing the same job as you with the same level of experience are getting paid more, then this helps support your case.
Once you’ve figured out your key points and have some data to back it up, write it down. You don’t have to write a speech and read it word for word to your boss, but writing down your key points can help you to remember them. You could also try practicing what you’re going to say in front of a mirror or to a friend or spouse. Be prepared for questions or counter arguments that your boss might throw your way so you’re not stuck on the spot.
Time it right
If your company is in a particularly busy period or has just faced some financial difficulties, now might not be the best time to bring up a pay rise. Think about when the best time to approach your boss about pay might be.
You also don’t want to ambush your boss in the hall or break room and immediately start talking about money. Request a meeting or a performance review with them so they can also prepare themselves. You could even let them know that you want to discuss pay to make your intentions clear.
If your boss tells you they can’t afford to offer you a pay rise at this time for genuine reasons, then try negotiating other benefits such as extra holidays. It’s also a good idea to ask if this situation will change in the future so you know when, and if, to revisit your request at a later date.
However your boss responds, you should always remain mature and professional. Reacting badly to your boss saying no can have adverse consequences for you and hurts your chances of securing a pay rise in the future. But, you shouldn’t be afraid to ask!
If you know what you are worth and the opportunity to get it with your current employer isn’t readily available, you may need to think about whether you are really in the right place for you. Top talent is and will always be in high demand, and while the prospect of starting a new job search may feel like a daunting one, it doesn’t need to be. We’ve supported hundreds of candidates and helped them to quickly find the right roles for them. Can we help you, too?