How to negotiate a pay rise
Asking for a pay rise is one of the most difficult conversations to have as an employee. Some workplaces have processes in place to regularly review pay, but what if yours doesn’t? We share our tips on how to broach this tricky topic below.
Book in the time
If your workplace doesn’t have a formal pay review process in place where you have the ability to discuss both your performance and your pay on at least an annual basis, we suggest asking your manager if you can schedule a regular catch up in their diary. Let them know that you’d like to catch up for half an hour every 6 months to discuss your work, learning and development opportunities as well as your pay. By scheduling this in, you are not only giving your manager plenty of notice to consider your performance, you’re also demonstrating your drive to be successful in your role which will both contribute to a positive pay negotiation.
Do your research
Before asking for a pay rise, consider what’s realistic for your position. Do your research in terms of industry averages as well as the pay band that your role might sit in so that you can go in with a reasonable and realistic request.
What if they say no?
It’s important to be prepared for a no, particularly in the current climate where many businesses are recovering or continuing to suffer from the implications of a global pandemic. Instead of accepting the no and feeling delated, have some alternative suggestions up your sleeve that aren’t necessarily fiscal. Could you negotiate an additional week of annual leave this year? Or access to a carpark? Or perhaps an increase in your wardrobe allowance if you have one? These types of benefits may not put extra money in the bank each week but they can go a long way in improving job satisfaction.
Some other key considerations to take on board before you ask for a pay rise are; how long have you been in the role for? Have you been achieving excellent results or getting positive feedback for your performance? Timing is crucial when a pay review is in question. You want to have the discussion when you are adding value and contributing to the business.
Good luck!