Asking for a Pay Rise
Thanks for your question!
First off, good for you! If you take the time to prepare well, you'll seriously increase your chances of getting a pay rise. Don't rush your preparation. I'm sure you've already got this covered but here is what I recommend you think about...
Prepare well. Build your 'List of Why' you deserve an increase.
Create a list of specific and measurable examples of where you have exceeded the parameters of your job, added value to the company, increased revenue, affected savings or improved service and efficiency. Make it hard evidence, and a good solid list. Waffle and sentiment wont stack up when it comes to increasing your remuneration, but facts, evidence and metrics do. Consider building the list in a way that you can sum total the value of the savings/income/improvement you've delivered to your organisation. I've always built my lists in excel, but use what works best for you.
Now if you can’t create a list of achievements that demonstrate how you have gone beyond the parameters of your job description and added value to the company.... Stop right now, do not pass go, do not collect $200, get back to the office and start working on exceeding expectations. It's very hard to ask for a pay rise when we cant demonstrate why we deserve it, and in these instances it's very likely your employer might say 'no'. So sit down, start building your list then give your list an honesty test. Ask yourself would I give one of my team members a raise based on these achievements?
Rehearse. Make sure you come off as compelling.
For some people, negotiating a raise can be daunting.
Rehearsing will help you hit the right tone, and iron out the kinks in how compelling your case is. It will help you appear more confident on the day. Make sure that you are not coming across as overly demanding or dramatic, but rather as reasonable, well thought and with a strong set of evidence to support your case.
Consider videoing your rehearsal on your smartphone. You’ll hate the footage but it will increase your performance big time. Ask yourself, do I have an evidence based, and compelling case? If you can’t convince yourself – you won’t convince your boss either
If you’re using “ another employer is prepared to pay me this” make sure you can back it up. Smart employers know to ask you for written evidence, or to see the employment contract. Don’t use it as a ruse- you’ll be caught.
Don't make threats, don't strong arm and don't be demanding.
If you use the approach “give me a raise - or else I will resign” be prepared to tender your resignation. Demands, ultimatums and good old fashion tantrums, demonstrate you’ve got poor negotiation skills, and your employer might just consider you lack of skill in this area, a good reason to let you resign and move on.
Have a fair number in mind.
If you’re serious about a raise and you’ve got a good solid body of evidence behind you, you likely have a number in mind. After you’ve made your case. Communicate that number. Don’t assume people are going to be able to guess your expectations. You’ve come this far, don’t wimp out when it comes to about talking about dollars.
Make sure that number is fair. Organisations have felt the pinch of a tough economy. So be mindful that as an organisation remaining cost efficient is important. Ask for fair dollars and you’ll likely get a fair response.
Prepare for a delay.
In many organisations the manager may need to seek higher approval to grant a salary increase. So anticipate that you might not get an answer on the spot. If your meeting is adjourned without no outcome take the initiative to establish when the next meeting will be. Lock it in.
Hot tip:
When it comes to making a positive case for a pay rise. It helps to keep a record of what you’ve achieved during your tenure. Keep a list ( or even better a spreadsheet ) that documents dates, achievements and value of what you’ve done. This document will also come in handy when you are interviewing for your next internal promotion.
Down the track when you are ready to make a career move, you can use some of this data, to remind you of what to list in the achievement section of your resume.
Good Luck! I wish you well in negotiating your next increase.
- Liz Kingston
