Asking for a pay rise can feel daunting. The fact is that we all work for a monetary return. If you think you deserve more than your current pay and your request is within the relevant salary range, you should consider letting your manager know.
Here are some tips to help you approach the conversation confidently.
1. Request a Meeting with Your Manager and Be Clear About the Agenda
When setting up a meeting to discuss your salary, let your manager know the purpose in advance. You can do this through email or in person, depending on your workplace culture. In your email, be clear and concise about the topics you want to discuss and any supporting information you might have. This will help ensure a productive conversation.
2. Pick the Right Time to Speak to Your Manager
Timing is key! Choose a moment when your manager is likely to be receptive, avoiding times when projects have failed or during peak seasons.
For the best chance of success when asking for a rise, waiting for more than a year of service at the company may be a better timeframe to ask for more money.
Asking the human resources manager about when salary increases are approved is also a smart move – they will be able to tell you if there’s an optimal time for submitting your request.
3. Consider the Company’s Financial Position
Be mindful of your company’s financial health. If things are tough, it might be better to wait for an annual review. Patience can pay off when the company is in a better position to grant raises.
4. Ask for a Pay Rise After Exceeding Your Key Performance Indicators
Demonstrate that you have met your key performance indicators or that of the organisation. Showcase your achievements and any additional responsibilities you’ve taken on. Highlight what’s within your job scope and what goes above and beyond. Remember, doing your job well is expected, focus on your extra contributions.
5. Keep Your Personal Reasons Out of It
Focus on your professional merits rather than personal reasons. A higher salary is based on merit, not on your number of years at a company, or whether you have taken on a new mortgage or planning to buy a new car.
Employers are more likely to respond to demonstrated value and accomplishments.
6. Prepare a Presentation to Back Your Salary Request
Have solid data to support your claim about your contribution to the company, such as salary research and market rate.
You should document your accomplishments and show how they have benefitted the company. An excellent way to present the data is to create an eye-catching presentation.
Negotiating is an essential skill set to have, especially when asking for more pay. When negotiating, be prepared, set goals, show how your pay rate compares to the rest of the industry, and know what you want from the deal.
7. Pay Attention to Human Skills
Being good at your job is important but so is being a team player. Show how you work well with others and contribute to a positive work environment. Share stories of conflict resolution or helping colleagues. Being a team player, someone who demonstrates empathy and care in a genuine matter and the way you conduct yourself professionally, contributes to your value as an employee too.
8. Research Your Industry’s Pay Structure
Use industry salary data to support your request. Knowing what others in similar roles earn can strengthen your case. Share this information with your manager to provide context for your request.