We’d all like more money. Some of us may even deserve it. 67% of respondents to last week’s online poll said they would like to ask for a payrise.
But how do you go about it with any chance of success?
The most obvious tip for the right way to ask for a payrise is to be able to justify why you deserve one. You have to prove your worth. It is unrealistic to think that a raise is warranted just by you doing the job – that is, after all, what the current pay level covers. And length of time at a company does not automatically entitle you to bid for extra money. You therefore need to give before you get, exceed goals and expectations, and build a reputation of success.
– Can you clearly articulate what you do, what you have learned, what value you add, where you go above and beyond the bounds of your job description?
– Is the timing good, say, after a positive performance review, or when you have been allocated new duties and responsibilities that perhaps warrant a pay rise?
– Is the company in good financial shape?
– Have you been in your job for more than five minutes?
The following is a list of Do’s and Don’ts from someone in an excellent position to give advice in this area – our Managing Director, Elizabeth Varley:
Do’s
1. Prepare your case: get facts, figures and evidence as to why you deserve an increase and what you will bring to the role in the future.
2. Compare your current salary: research the employment market using similar roles in similar companies as your benchmark.
3. Put yourself in your boss’s position: how would this pay rise affect the salary parity of your co-workers?
4. Be open minded to other solutions and benefit options: these can include flexible work hours, study assistance, career advancement opportunities, further investment in your professional development, etc.
5. Give your boss advance notice: make sure that your boss has the time and is forewarned as to the nature of your discussion.
Don’ts
1. Don’t get emotional: keep the discussion on a business level.
2. Don’t threaten or use arm-twisting tactics: this will only create the wrong impression and result in negativity and resistance.
3. Don’t ambush your boss: make sure that your boss can give you the time and is in the right frame of mind for this discussion.
4. Don’t expect too much: you might deserve a pay rise but your boss’s hands may be tied as to what they can give you.
5. Don’t gossip: this is a private matter between you and your boss. Office gossip will only lead to negative outcomes and you could “shoot yourself in the foot” by blabbing to your colleagues about your intention and the content of your discussions.
If there is a no or an unsatisfactory outcome …
What should people do if they are only given part of the raise being requested?
– Politely ask whether the situation will be reviewed within the next 3-6 months.
– Ask what responsibilities or professional development you could do to improve your chances for next time.
– Re-emphasise to your manager how much you are enjoying working for your firm, and indicate what you plan to do to demonstrate your eagerness for personal growth.
Also understand your organisation’s constraints; you may think you deserve it, but your company may not currently be in the position to offer you a raise or promotion. Are there any non-monetary benefits the company could offer? If not, and you feel you are consistently working beyond expectations without any prospects of reward in the next 6-9 months, it may be time to consider your options external to the organisation …
[With thanks, as always, to the Challenge Consulting Team for their expert comments and suggestions!]
