How to Get a Pay Rise
Hundreds of thousands of people across the United Kingdom want a pay rise for the work that they do. However, only a few thousand a year are successful in getting one. In the current economic climate, it is unlikely that your employer will just choose to offer you a pay rise without you taking proactive steps to try to secure one. Although you might not feel comfortable asking for a pay rise, it is worth repeating the mantra of "If you don't ask, you won't get". This guide may help you to secure a pay rise.
Prove that you are worth it
If you expect to get a pay rise, you need to prove that you deserve one. You will need to start doing the groundwork months in advance to prove how valuable you are to the company. Know what is expected of you and make sure that you exceed expectation.
Begin to make a record of all of the things that you do that go above and beyond these expectations. Your list should be factual and your employer should be able to follow up on any evidence that you present to them. Quantified information and statistics are useful, because they allow you to show your employer things like how many lead you bring to the company or how much money you have made for the company. You can set out your case on paper or present it to your manager face-to-face. You can also use this opportunity to set out your continued commitments to producing excellent results for the business.
Prepare Your Manager
Don't spring a salary conversation on your manager out of the blue, because they are likely to feel very defensive about the idea. Arrange a meeting with your manager and advise them that you would like to discuss your current role and your salary. Knowing what the meeting will be about will give them the opportunity to prepare their own thoughts in advance. It will also give them the chance to think about the practical constraints of being able to offer you a pay rise.
Think carefully about when you schedule the meeting in for. Monday morning and Friday afternoon tend to be bad times to broach the subject, as managers are often at their busiest during these periods. You should also avoid scheduling your meeting close to a big project deadline or handover date. Raising your request just before the time period where budgets are allocated is a great idea, because your manager will be able to see how a pay rise might affect other areas of the budget. If you ask just after the budget allocation phase, then you may discover that there is no money left in the budget for increasing your salary.
Check out the Competition
Find out how much others in your industry are earning. If you are already earning well above the standard salary for your role, then it is unlikely that your employer will be prepared to give you a large pay rise. On the other hand, if there is the possibility that you could move elsewhere and earn more money, then you can use this as leverage in your salary negotiations. If you are valuable to the company, then they will not want to lose you to their competitors.
Negotiations
As part of the negotiation process, your employer may ask you how much
you think that you deserve to be paid for your role. Your research into
the pay of others in the same industry will help you to come to an
informed figure. Being able to produce a reasonable figure will show
that you are serious about your request. You should also be prepared
for them to make a counteroffer which may not be as much as you have
asked for.
Know what you are prepared to accept before the negotiations begin and what you will do if the offer is not suitable. Some companies may not be prepared to offer a straightforward financial pay rise, but they may be prepared to offer an adapted benefits package to reward you. Whether you value their offer or not will depend on your personal preferences and your present situation.
Don't give up
If your employer refuses your request outright, you should ask them what criteria you need to meet to be considered for an increase, and you can ask them whether there is the possibility that the decision will be reviewed in future. You may want to look for a new job elsewhere if there is no possibility of a rise in future. If the possibility does exist, you can ask your manager to set a review date and give you goals to work towards. Knowing that you are interested in a pay rise may also mean that your manager keeps you in mind the next time that spare funds are available.