Did you know that those aged between 18 and 29 are more likely to switch jobs than ask for a pay rise from their current employer? Well, a recent report found just that. Whilst if you’ve been in that situation you’re likely to be nodding your head in agreement, changing jobs every time you feel you deserve and need a pay rise is far from ideal.
The saying goes: ‘if you don’t ask you don’t get’ and whilst this is perhaps a quite presumptive approach – when it comes to asking for a pay rise – if you’re too afraid to ask then the opportunity may not necessarily present itself on its own.
Asking for more money at work doesn’t and most importantly shouldn’t be an awkward conversation. But biting the bullet isn’t always easy. Putting in place a proactive plan when asking for a pay rise is always the best approach. So keep in mind these top tips for success.
How to ask for a pay rise – Just Ask
The best way to get more money? Ask. Whilst this is the most obvious and simple way to go about the matter, building up your confidence to ask is key. Remember, that if the answer is “no” you haven’t lost anything. You’ve still got a job and, if anything, you’ve made your employer aware that you want your current financial situation to change.
Build a Case
Asking without reason is probably not going to get you very far in your quest for more money. Take the time to build your case as to why you deserve a pay rise. What do you contribute to the company? Have you won any new business, excelled at a recent project, attended training courses, or greatly improve your skillset? All of these things should be detailed in your reasoning. You’re basically saying ‘Hey look at me, here’s what I’ve done to earn a pay rise in my current role’.
Research the Market
Make sure you know your worth before you pick a figure off the top of your head. What’s the current salary for your role in a similar company? It can be awkward to ask, but try to find out what those in the team are paid doing the same job. Sadly, there are still big inequalities between male and female staff members’ pay. With gender pay gap reporting mandatory for companies with over 250 employees from 2018, employers are keen to get the ball rolling when it comes to making staff pay equal.
Don’t Make It Personal
Your financials aren’t your employer’s concern. You want to be able to afford more holidays? You run out of money way before the next pay day? Neither are your employer’s problem, so don’t bring those into the equation when discussing a pay review with your boss. Keep things professional and stick to the reasons why you should be rewarded with more money based on your professional achievements.
Work for It
Employers are reluctant to offer more money if you aren’t willing to work for it. Don’t fret, as asking for a pay rise doesn’t always mean you’ll be tasked with more work, but improving on your current skills and the tasks you do now, can help to prove you’re worth the extra cash. Not only will you be proving your worth, but you’ll be building your CV with extra skills when the time does come for you to move on.
Assess your Current Circumstances
If you aren’t offered a pay rise or you don’t get as much as you’d hoped for, you shouldn’t necessarily speak to a recruiter straight away. It’s easy to think the grass is always greener elsewhere, but that’s not always the case. A recent report actually found that some employees would rather take a pay cut in order to be granted the option to work from home. Take a look at what makes your current situation work for you? Do you work with a great team? Get free lunches? A good holiday allowance? Flexible working hours? Good pension? Healthcare? These things aren’t always on offer elsewhere, so sometimes sticking where you are does have its benefits even if the pay isn’t quite right.
How to ask for a pay rise is by no means an easy decision, but it certainly doesn’t need to be as scary as you initially thought. Keep in mind our advice and most importantly, take your time. Try to avoid rushing into asking for more money without a case and if the answer is no, don’t make a hasty choice on your career. You may end up regretting it.
Contributed by: Paydata