The art of asking for a pay rise: How employers evaluate pay rise requests
Tips to maximise the value of your next pay rise
- Prepare your evidence: “Firstly demonstrate to your boss why you deserve a raise,” says David. “It’s not enough to talk about the rising cost of living. Instead, focus on your individual performance and the importance of your responsibilities.
“Showcase that in the past year you’ve consistently exceeded performance expectations, met targets and made a significant contribution to the team’s or organisation’s success. List the additional responsibilities you’ve taken on and the duties you perform that are crucial to the organisation. Highlight the value of your expertise.
“Back this up with specific and quantifiable evidence. For instance, perhaps you are managing a 20% increase in the overall volume of work or were involved in a project that exceeded objectives.”
- Research typical salaries for similar roles: “Thanks to the focus on pay transparency and staff retention, external typical salaries are also a factor in employers’ pay decisions,” notes David. “Review recent salary guides to back up your request with evidence from the current market.”
- Set a meeting: “Ask your manager for a meeting to review your salary and maintain a professional manner throughout,” he says. “Present your evidence, then listen to their feedback. Remember, this is a conversation.”
- Be willing to negotiate: “Be prepared to discuss the salary you feel your results are worth but consider how much you are willing to compromise,” says David. “It can help to have a top and bottom figure in mind that you think would be fair.”
- Have a contingency plan: “If you can’t reach an agreement, can you settle on a date for another pay review in six months?” asks David. “Or could additional benefits bridge the divide, like more flexibility, improved work-life balance or a promotional plan?”
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