Many of us make New Year resolutions about the health, fitness, and professional achievements. But it might also be the right time for the pay rise as well. If you think you deserve a pay rise here is how you can go about asking for one.
You need to plan your approach in advance. You need to consider how and when you will make the approach and what evidence you will drop in the conversation to highlight why you deserve one.
You also need to be patient. You will have to wait for the right time. You should understand your business and your position in your industry (there is some favorable time for every job). You can ask for a pay rise after accomplishing a rewarding project for your company, or perhaps after a particularly successful period.
This will be a perfect time. Your employer will think twice before rejecting your plea. In fact, he or she might dive in right there and ask what you are looking for in a rise. Prepare yourself for all the answers.
You should not compare yourself with your colleagues. You will have to stay positive while focusing on your contribution (your contribution will be more effective than any comparison to your colleagues).
You will also have to show that you are a dedicated team player and you really work hard for the growth of your company. Make sure that you have enough data to prove your credibility and to support your demands.
Before asking your boss for a pay rise, you will have to consider the following things to put your points in a more effective way.
Understand the market rate (the understanding of current market rate will help you to support your demand with some examples). You should understand the current rate of your job in the industry before asking for an increase and make sure it matches your level of experience.
The worse thing you can do is ask something that is unreasonable or well outside of industry/market norms. Not only will you be turned down but it will come across as though your main motivating driver is monetary reward.
In the lead up to asking for a raise you should take note of your performance (Without improved performance, you might not get a pay rise). Your performance will often be the determining factor in both whether you get a raise and how much your salary increases by.
Finally, know what you are willing to accept and put forward your request. There is no point asking for a raise and not providing details around the salary you want. You could be thinking of a 10% raise, but only get offered a 3% raise. Whereas if you are more specific and ask for 10% then your employer will know exactly what you want.
- Gavin has 15 years experience as a HR Manager and Leader within large and growing companies. During this time Gavin has seen thousands of resumes and conducted just as many interviews. Gavin has turned his knowledge and passion in this space into a full time profession and launched Jobs in Bradford his career advisory and consulting website.