Posted: 6th of May 2016 by Chris Cox
#CareerCounsel: Is it your time to ask for a pay rise?
When you feel there should be more reward for the work you do, it’s vital you don’t rush into anything. It would never be well received if you approach your manager with the sentiment that you’re underpaid.
We are not going to focus on HOW to approach someone about a pay rise, but what to consider before you do. There are many things to think about and #CareerCounsel is on hand to talk you through what to do…
Ultimately, you want to prove you are worth the investment. Your achievements might have been recognised by your manager, and the value you have added has been noted. How are you going to build upon that and deliver even more? Past achievements are great and provide a great foundation for what you are asking, but you need to know what you are going to do to take it to the next level…prove your worth!
Do your research
It will be necessary to know how feasible your request will be before you enquire. If it seems you have just dived in asking for a pay rise and hoping for the best, it won’t be appreciated. Have a firm knowledge of the pay rise policies so you know what to expect. It also allows a more open and understanding conversation as you won’t need the ins and outs explained to you. Human Resources can assist with all of these questions, so it won’t hurt to ask.
Knowing your own worth
What are your day to day responsibilities? Do you know anyone in your wider network with a similar role? It’s good to open up a dialogue with other people in your shoes so that you get an idea not only about what other people are worth, but what you are too.
Another way to get an idea of the market in general is to study job advertisements. What opportunities are out there? This doesn’t mean you’re looking for a new job, but it gives you an idea of what is being offered to someone with your experience. It’s also important to consider the companies you are researching and that you are comparing your current position to very similar roles. Think about team sizes, bonuses, benefits (more on these later) and your responsibilities.
If your salary is really important, it is good to know what is out there in case your quest for a pay rise doesn’t succeed.
Don’t ignore additional packages on top of your salary…these are very important. So the benefits are not cash so to speak, but there are other ways to look at them. Some benefits are designed to save you some money; of course a gym member ship subsidiary, for example, wouldn’t mean anything to someone who doesn’t enjoy the gym.
Plan ahead and have a think about what benefits could have a positive impact and soften the blow if a pay rise is not agreed when you approach your manager. Travel subsidiaries are a great way for you to put extra aside for yourself, while flexible working gives you a chance to save on a day of commuting. These are all just examples of course, and it’s up to you to reflect on what can make your situation more comfortable.
We hope this helps you set out a clear plan of action if you wanted to ask for a pay rise. Always consider the different outcomes of the conversation you will have, as it helps you proceed with the situation whatever the answer may be!