With the expensive Christmas period coming up and the cost of living going up many people will be looking at ways to increase their income.
With headlines abound that real wages have stagnated over the last few years perhaps now is the time to ask for a pay rise.
Here are our 5 tips for asking for a pay rise:
1) Start on a positive - tell them how much you like working for the manager and the company. Focus on the future and the responsibilities & projects that you will take on to improve the business.
2) Prepare yourself beforehand - rehearse and anticipate the questions you will be asked and role play the conversation with a friend or your partner. Research the market beforehand and ask for an amount that is precise, not just rounded to the nearest £5,000. For example, ask for a 7% and specify the amount. You don’t want to suggest a number that is unrealistic but also leave room for the employer to be able to give you a counter that is acceptable to you and them.
3) Promote your accomplishments - demonstrate what you have achieved to date and back it up with figures; hard numbers are very convincing.
4) Focus on why it is deserved not why it is needed – wanting a luxurious vacation is not a good reason, your excellent performance and impact is. Demonstrate your accomplishments, the value you have added, and the wins you have achieved for the business.
5) Don’t get put off by a no - use the negotiation to schedule a time frame when you can revisit it. Suggest an interim review or ask for benefits beyond salary e.g. increased holiday or more training.
So if you are thinking about asking for a pay rise – remember these 5 key tips.