Posted by Adam Blanch on 16 October 2013
Asking for a pay rise is always difficult. You are putting your self-esteem and even your job on the line, and you risk creating the exact opposite of the desired effect if you don’t do it well. Here are six things to consider before you leap in.
Is the economy strong and is the company doing well? If times are tough then the answer is likely to be no, and your manager might start doubting your loyalty and commitment. Also consider whether you’ve been there long enough to really prove your value and whether you’ve really performed at an exceptional level.
2. What’s your value proposition
The boss isn’t going to reward you without reason. Before asking for a rise you need to establish what you’ve done to add value to your company and how you are going to continue and improve on that to justify more money. You should go in with a clear picture of your value and be ready to sell it. Consult the Robert Half Salary Guide to find out what the industry is paying.
3. Make an appointment
Set a time and let them know that you have schedule the meeting to discuss a pay rise. That way you’re not surprising them and putting them in a position where they feel cornered and defensive. It also gives them time to have a look at your work record and consider your value.
4. Take control of the agenda
Be polite and respectful, but this is your time and you can dictate how it runs. Start by thanking them for being willing to see you and state straight away that you are here to talk about how you can get a pay rise.
Go in knowing the figure you’d really like and what you are prepared to accept. Put the top figure on the table as an opening bid, and let your boss counter offer. If you get a low counter offer, express your disappointment but avoid that unprofessional sulk. Whatever way it goes, thank them for their consideration.
6. Before you leave
Either you got what you wanted or you didn’t. If you did, leave the boss with assurances that you will be delivering value on their money. If you didn’t, ask them why and what you need to do to get a yes next time, such as taking on extra responsibilities, and try to get a date for a future review. Meanwhile, work hard and be noticed doing it.
Even if you feel you’ve been putting in the hard yards and your turn is up, your boss may have other ideas.
Do you plan to ask for a pay rise? Make sure you are fully prepared. Go in with a plan to prove your added value for the company and your pay cheque may just receive a boost.