It’s a question that we all want to ask, yet statistics say the majority of us don’t ever pop the question. Well here is a helpful guide to help you ask for a pay rise.
So let’s start with the basics, when is the best time to ask? As an employee, there is no specific time you have to ask, you are well within your rights to ask whenever. However, there are certain times that are better than others. For example, review meetings with your line manager, or at the end of the year or financial year.
So how do you get yourself ready to ask for a pay rise? firstly, schedule time with your manager (if it’s not already a scheduled meeting like your annual review). If you can aim for later in the day, this is normally best as the stress of the morning rush is typically over.
Next you should think of how to build your case for a pay rise. This may include examples of salaries of employees in a similar position, or check for positions similar to yours that are advertised online. You may have even been told/promised that if you were to hit a certain target you would receive a rise. You could also use an online salary calculator to help you justify your salary request.
When you get in to the meeting, remember to be calm and concise. You are obviously going to be nervous asking for a rise in wage. It will be a similar feeling to having a job interview so ensure you keep eye contact, and speak clearly. Make sure you mention your recent achievements and accomplishments to justify your request. Also try to get across the value you add to the company by you being a part of the team.
Do not ask multiple times for a pay rise, over a short period of time. So if you do ask for a wage increase, ask for a raise you would be happy with for the next year. You do not want to come across as greedy nor do you want to undervalue your request. For this reason you should potentially ask for more than you think you want. This allows for negotiation, you can always negotiate down to your initial figure, leaving both parties happy.
When your meeting finishes, it may not end with an immediate yes or no. You may be told that your request was going to be processed or assessed. If this is the case, then ensure that you ask, ‘when would be the best time to follow up with you about this?’. If your request is rejected, always make sure you ask for a goal or a target to hit, at which point you would potentially get your pay rise. This does two things; firstly, it gives you the peace of mind that you can achieve your pay rise that you have requested. Secondly, it firmly displays to your manager that you are serious about your request and your future with the company.
Remember that in some circumstances, the company, simply may not be able to afford the pay rise you have requested. It is at which point you may be able to ask for other benefits, such as flexitime, bonuses, etc but also you may want to consider a new position/role within a new company.