Asking your boss for more money isn’t always an easy conversation. And unless there is a well-structured review system in place, it’s likely that you’ll need to proactively broach this topic. It can be a tricky topic to discuss so to help you successfully ask for a pay rise; here are our top tips for preparing yourself for the conversation.
Research the market
While it’s not advisable to openly discuss salaries with your colleagues, arming yourself with as much information about what others in your position earn is the best place to start.
Instead of prying into your co-worker’s earnings, look on comparison websites and job boards to get an idea of the market salary for your industry and experience level. This will help you decide on a number before speaking with your manager – you need to be specific about what you want.
Build your case
Think about why you’re asking for a raise. Have you recently had some big successes in your current job? Do you believe you’ve taken on some new responsibilities? Perhaps you’ve consistently delivered exceptional work since accepting the job.
Whatever your reasons, it’s important that you build your case by providing clear evidence as to why you deserve a raise.
Prepare specific examples and provide solid reasoning to prove that you deserve more of the business’ profits. Wherever possible, tie your successes to business results – increase in sales, solutions that save money, etc. Adding a monetary value to your success can provide irrefutable evidence.
Find the right time
Be strategic about when you speak with your manager – avoid catching them when they are busy, against a tight deadline or about to pack up for the day. Try and find a time when they will be able to give their full attention and really focus on the conversation.
If you can, set up a meeting in advance to ensure you manager will be available. This also gives you time to prepare your case!
Get to the point
When you finally do find the right time and have your manager’s attention it’s critical that you get to the point without going off topic or beating around the bush.
A couple of ways you can kick off the conversation include: ‘I’d like to talk about reviewing my pay’, or ‘In light of my performance at work, I wanted to ask you about a pay raise’.
Give your manager a chance to respond, and then tell them the amount you’re looking for – this is your opportunity to present your case and back up your request.
Focus on business
A raise might help you save up for a house, or buy a new car, but try not to discuss these during the meeting. Your personal reasons for wanting a raise are completely irrelevant.
Keep the conversation focused on your contribution to the business and why that warrants a higher reward than your current salary.
Control your nerves
If your manager isn’t entirely warm to the idea it’s likely that a negotiation will come to life – negotiations around money can often be tense so it’s important to keep your nerves in control.
Don’t back down under pressure, never take back your request, or suggest a lower amount. Stay calm and wait for your manager to respond to your initial request.
Whatever you do, do not leave the meeting without knowing the next step. If your manager says they cannot talk to you at this time, or they’re not the best person for you to be having the conversation with, ask them directly what the next step will be and when you can expect this to happen.
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