Asking for a pay rise and the science of negotiating
You’re enjoying your job. You’re a perfect fit in the organisation, you’ve sharpened your skills to a point, and you’re smashing targets left and right. But it’s time for your annual review and rising costs have left you out of pocket. So, how do you ask for the pay raise your performance deserves?
For most people, asking for a pay rise is hard. Even in a performance review. So, here are some tips to help you on your way, turning the art of salary negotiation into a science.
Use the tips as a guide, but don’t be afraid to experiment – finding the right solution takes research, preparation, and perseverance.
The right number
How does your current salary compare with people doing a similar role? By using our Salary Guides, you can get the latest insight into the highest, typical, and lowest salaries for your position. Then, find out how pay rises are calculated in your organisation and talk to someone from HR about salary ranges.
Once you have your number, plan different backup options, but have a clear first choice and a specific number ready for your presentation. Your backups could be lower numbers combined with additional benefits, a more flexible working pattern, or a higher bonus – think about what is most important to you.
Know your audience
You should always talk to your manager face to face when it comes to pay rise discussions – but surprising them is a no-no. Invite them to a meeting by email, so you know you’ll have their full attention. Tuesday, Wednesday, or Thursday are the best days to do this. In your email, detail what you would like to talk to your boss about so they also have time to prepare before the meeting.
Avoid picking a time in the middle of a big project, or when a problem has emerged at work. December is usually perfect in most industries. Plus, everyone is thinking about happy holidays and fun with the family – including your boss!
Build your brand
Clear thinking comes from a strong structural foundation. When presenting your case, you need to demonstrate what you have achieved with concrete examples. Don´t just talk about the rising cost of living or “doing a good job”.
Think of times you have worked with different teams and highlight your relationships with key people. Understanding your role in the organisation and knowing what you bring to the team will also build your confidence for the meeting.
A format for success
A document with an agenda of what you want to talk about is a good start. But to really go above and beyond a simple scripted presentation, demonstrating your points of achievement, will give your meeting the structure it deserves.
Be specific in all of your examples – what you did, why it worked, and where you added value for the organisation. Use the points below to help exemplify why you deserve that raise:
- Have you brought in more business or gone beyond your targets?
- Have you taken on additional responsibilities or gained extra qualifications?
- Have you successfully delivered a particular project?
Keep your cool
Practice your presentation. Speak slowly and calmly. Think about how your favourite anchor presents the news – they speak clearly and seriously so they can get the facts across in an unbiased way.
Nerves are to be expected. Open the meeting informally to help get yourself into the right frame of mind.
Once you are into your presentation, keep your emotions in check – this is a business meeting. At the same time, don’t appear apologetic or uncomfortable about what you’re asking for – you know you deserve it.
Have everything covered
Write down everything discussed in the meeting and send a short follow-up email, including your presentation. A concise and accurate case will increase your chances of getting the raise you’re looking for. Documenting everything will make their decision-making process easier and ensure there is no room for misunderstanding further down the line.
Patience is a virtue
Give your manager time to review your proposal, but mutually agree on a date. You need to recognise it is a delicate situation for them, too. They have to consider whether they truly believe you’re worth it, review their budget, talk to HR and draft the necessary documentation before a potential pay rise becomes official.
If you get a positive response after their review, remember you don’t have to accept anything straight away. Review the offer and consider if it’s exactly what you wanted walking in.
If you get a no, don’t accept defeat. Request another meeting, allowing time for you to gather further evidence for your business case. Remember your backup strategies for salary and benefits? This is where you deploy them.
Get ready for the jump
Finally, the extra money will usually mean more responsibilities, so be sure you’re happy and have the capacity and capability to fulfil them. Ask for extra training if you think you need it, identifying relevant courses inside or outside the organisation.
If worse comes to worst and you don´t get what you want, you will also have a head start in the search for your next job. Your preparation and presentation, with clear examples of your experience and achievements, will make updating your CV – you can get a new template for that here – and interviews a breeze.
If worse comes to worst and you don´t get what you want, you will also have a head start in the search for your next job. Your preparation and presentation, with clear examples of your experience and achievements, will make updating your CV – you can get a new template for that here – and interviews a breeze.
At the end of the day, remember to project confidence and believe in yourself – no matter what happens, maintaining a positive and professional attitude will help you in the long run.
We wish you all the best!
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