Think that you are overwork but also underpaid? Think that you are about to change that? So what are you waiting for? It is time to let your employers know by asking for a pay rise. But wait, it might not as easy as simply knocking on your boss’s office and asking for more money. Here are a few things that you should know to effectively and successfully get a pay rise.
Note down: It is worth checking your employer’s pay policies at first. If the policies state that a pay rise can be offered once or twice a year after an annual review, you should wait for the date. On the other hand, if your company tends to offer pay rise several times during the year, you get a better chance in asking for a pay rise.
Step 1: Know that you deserve what you are about to ask for
I have seen so many people demanding for a pay rise simply because they know their colleagues have successfully done so. You have to know what you have to offer to back up your request. Think about your job description. Learn about your responsibilities. Do you fulfil your duties? Have you done more than what you are required to do? Answering these questions with Yes will help you to be more convincing.
Step 2: Know how much you are worth
You should know exactly or roughly how much your boss should pay you. You can check for job sites and read adverts of the similar positions. They can provide you with the same or comparable rates of pay.
You should not compare your wages against someone else at the company you are working for unless the company does not have policies on personal pay confidentiality.
Also, you should be more realistic about how much you are going to ask for your pay rise as well. It is for sure that your boss will turn down your suggestion if it is unrealistic, for instance, when you ask to double your pay. You should compare salaries for similar positions in other organisations. The pay rise you ask for should not be way much higher than these figures. Remember that your boss is not obliged to give you a pay rise.
Step 3: Ask for a meeting
Don’t just simply knocking the door of your boss’s office. Your manager will not like it when they think they are put on the spot. Hence, it is better if you can schedule a meeting with your boss in advance.
You should provide your intentions for the meeting as well. For instance, you can ask for a review of your performance at work. Alternatively, you can be more specific and tell your boss that you want to talk about your wages or your salaries.
Another thing to think about is when you schedule a meeting with your boss. Timing is a critical factor that can determine your success or failure in getting a pay rise or not. No one likes Monday, even your boss, so it is a no-no. Late afternoon Friday is also not ideal as well. Think about Wednesday- the most popular day to get a pay rise. But you should also consider how your workplace operates as well. Choose the day when your boss is not busy so that he or she is more likely to listen to your request with the full attention. Also, a good time could be after a business meeting to announce the success and profits that your company has achieved. Avoid asking for a pay rise if such a business meeting does not announce any good result.
Step 4: Have a powerful speech
This is a critical step to determine whether or not you will be successful in asking for a pay rise. To deliver a powerful speech to your boss, you should note down some important facts about your case before you meet with your boss including your accomplishments and additional responsibilities. You can also make it into a complete memoir so that you when you come to speak to your boss, you can give it to him or her. Your boss can reread the memoir to consider your case later on or give it to the more senior managers, especially when getting a pay rise for you is not in his or her authority.
Another thing that you should know is that you can’t just simply say “I have done more than needed”. That will not be persuasive enough. Therefore, you should quantify your achievements. For instance, you can say “I achieved X sales this month, which is Y % more than the set targets”. This is a better way to show off your worth.
If you have enough on your hand to convince your boss that you are worth more than what you are paid for, you would have a better chance of getting a pay rise.
Last but not least, while you deliver your speech, make sure you make your case concise and clear. Also, plead your case with confidence will surely help you more in negotiating a new pay rise. Remember to smile throughout the meeting with your boss. Also, remember to be polite. Just because your boss says no, don’t make any threats to quit or throw a tantrum- you will only make things worse in these ways.
Step 5: Ask for other benefits
Sometimes, your boss might not agree or be able to give you a pay rise. In this case, you can still negotiate for other benefits such as a higher allowance for transportations or extra day offs.
If everything fails, don’t be discouraged from it. Your boss might explain to you why you don’t get a pay rise this time. You now know the problem and can work to fix on it. Work harder and focus on things that can give you a pay rise next time.
These are all of the steps that you should consider if you want to ask for a pay rise. It is never an easy task. However, you can make it a little bit easier with your preparation. You should spend a lot of time and effort preparing before you ask your boss. Make sure you know why you deserve a pay rise and by how much. Then prepare your case carefully and deliver it to your boss on a good day with a proper manner and good negotiation skills. Good luck with your pay rise request and we’d love to hear your results.