Lots of us think we do more work than we’re paid for. We reckon we’re on a wage which should be increased. This could be for a number of different reasons including having been with the company for a number of years and having taken on extra responsibilities and work load without any enhancement in your pay packet. In this blog post we’re going to explore how to get a pay rise.
Why Do You Deserve A Pay Rise?
You need to know why you deserve a pay rise before you speak to your boss about it. Write down all the reasons so you are fully equipped when talking to your employer. It could be because you’ve worked your way u through the company over the years but haven’t really received an pay rise for it. You might have simply taken on more work or switched roles which means longer hours and more stress. It could be more travel, more time away from home and you feel you need a monetary compensation for that. You need to know your worth, what you bring to the company and show evidence of this. Whatever the reason, note it down in clear and concise words so you have knowledge behind your decision to ask.
Be Realistic
If you’re on £25k a year, don’t ask for £45k a year. You need to be realistic about what you’re asking for in your pay rise. It might simply be an extra few hundred pounds a month to make life easier and allow you to start saving towards retirement. Think about what you’re annual salary will divide into over twelve months and even what they will mean in terms of how much tax you pay. If you’re on £48k a year, dont forget that if you agree £52k a year, you’ll end up paying 40% tax on that amount over £50k. The extra £2000 under the £50k would work out as an extra £1600 after tax, whereas the £2000 over the £50k would actually only be £1200 after tax.
Look At Similar Jobs & The Salary
Take a look at people within your company and across the industry doing similar jobs to you. What are they being paid? This can help you come up with a ball park figure of how much you think you should be on. So some research into the salaries being offered on jobs websites for roles in line with yours. When you do this you’ll give yourself an idea of how much of a pay rise to ask for and it can also be extra evidence of why you should get a pay rise.
Time It Right
You need to time it right in terms of speaking to your boss. get it properly pencilled in for a sit down catch up rather than a chat by the coffee machine. When you make a meeting you are putting yourself across far more professionally. It also means your boss will be making time to talk, rather than rushing to a meeting and brushing you off with a non committal answer.
Be Willing To Enter Into A Negotiation
So many companies are struggling at the moment so you might not be offered more money. Be willing to enter into a negotiation for other things the company could offer you. This could be extra holidays, flexible hours or early finishing on some days so you can spend time with your family. Maybe it’s a car allowance, more training, or an official job tile change. It could even be some shares of the business. If you’re fixated on cash you might not get it and leave the meeting disappointed.
Keep Going & Revisit The Idea
Even if the answer is no, you should continue to put your all into your job. Find ways to work smarter not harder. If you do this, the idea has been planted in the head of your boss and they might think about revisiting the idea You could even pencil into your diary when you can reassess it. If you start to slack off, you’re never going to reach that goal you want to get to. Put the graft in and you’ll make a better case for yourself.
Stay Positive
At the end of the day, even if you feel down about not getting what you were after, there are many reasons behind that decision. You might not know the financial state of the company. The board might be playing with a restructuring idea. You might be lucky to have a job right now as things are so tough in the world of business and your current salary is better than no salary. Stay positive and keep moving forward.
Move Jobs
If you’re unhappy and find it hard to stay positive after asking for a pay rise, maybe take action into your own hands. Start to look at those jobs you found and apply for them. You are in charge of your career. If you don’t like where you’re at, put the steps into place to move to where you want to be.
Asking for a pay rise can be nerve racking but if you don’t ask, you’ll never get. Asking for it doesn’t mean you’ll get it but it helps you to take charge of your own destiny.
