How to ask for a pay rise and get it successfully
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You feel like you’re underpaid and can earn more if you looked for another job. But you may like your current job except for your salary. Asking for a pay rise/for a higher salary would be the logical next step.
However, before you do so, read the below to help you prepare to ask for a pay rise and improve your chances of getting it.
Asking for a pay rise is normal
It is perfectly normal to ask your boss for a pay rise that reflects your contributions, and one that is commensurate with your skillset in the industry you’re in. Ultimately, the truth is that if you don’t ask for one, despite being a valued member in the company you’re in, no employer will actively give you a reasonable pay increase unless you get a promotion.
What should you do to prepare for asking for a pay rise?
Preparation for your conversation with your boss is key. You can have the best relationship with your boss and get on with them really well but assume that this won’t count in your favour.
Make sure you do the following as part of your conversation preparation:
1. Justify why you deserve a pay rise via a business case
If you’ve been performing your role for a number of years with little or no pay increase, and your workload or responsibilities have increased significantly, make sure you write these down. These are your demonstrable examples to back up your claims.
Even with any other reasons you may put forward, make sure you can back these up with a few concrete examples.
2. Understand your market value internally and externally
Research what competitor firms are paying based on your grade and skillset. Use this to benchmark your salary increase potential.
Additionally, review what role you play within your company. Are you a key person in which your team would be at a loss to not have you around? This is likely to impact the leverage you have to ask and obtain a pay rise.
3. Understand your team dynamics and your role in it
If you’re a junior member in your team or in a non-specialised/technical role then it’s unlikely that you’ll have the same salary increase pulling power as someone who is pretty senior or in a highly technical/specialised role.
This is all about how quick your employer is able to replace you should you choose to jump ship.
Additionally, if your team is low on headcount and they’re actively looking for additional people, now might be the time to ask.
4. Choose the best time to ask
There are good times and terrible times to ask. You want to choose carefully. This is explained further below.
5. Be realistic
You may have a clear number or percentage increase in mind when asking for a pay rise. Do make sure that this is reasonably in line with what the company is likely to pay.
Also, make sure this is line with other competitor employers within the same industry are likely to pay, factoring in your grade and skill set.
6. Decide on location and how to ask your boss
This will very much depend on your personal circumstances. If you’re a fully remote employee then asking virtually is likely to be approach to take.
Where possible, asking face to face is generally the preferred approach. Think about whether you need to book a meeting room and how you would announce this to your boss.
If your boss doesn’t handle surprises well, it may be worth mentioning beforehand that you’d like to discuss your role and personal goals at work. Keep it broad as possible so you’re not putting your boss in a corner around pay increase requests.
When is the best time to ask for a pay rise?
1. Year-end annual performance reviews
Most employers review performance related pay such as bonuses, inflationary pay increases, promotions and other pay rises around the time of year end annual performance reviews. So your boss will already be in this mindset and asking for a pay rise shouldn’t be too surprising.
However, don’t leave it too close to the date in which promotions and pay rises are announced as employers generally decide weeks in advance of the run up to making such announcements.
2. Upon the completion of a significant project
If you’ve contributed positively in the completion of a significant project, and you’ve performed a good job where you’ve received recognition by your boss, this is a good time to ask.
3. When your boss is in a good mood
You’re unlikely to receive a positive reaction to your pay rise request if your boss isn’t in the best of moods, even if you’re a star employee and you have a great working relationship with them.
4. Company’s performance has been announced and it’s positive
Positive company performance is likely to mean that the senior execs of your employer are in the running for a bonus. Poor finances is not going to be a reason they can put forward to saying no to a pay rise.
Times when you should not ask for a pay rise
1. Company’s performance has been announced and it’s NOT positive
2. There has been a freeze on recruitment or pay increase
3. Busy period such as year end
Things to say to get a pay rise
1. Be clear
Be clear in your reasons as to why you should receive a pay rise, an amount and a realistic timeframe as to when. Your boss is much more likely to receive your message if it’s well thought through and substantiated, compared to if it’s unclear and unsubstantiated.
2. Be concise and specific
It’s so easy to get nervous and waffle – it shows we’re human and really want something. However, with careful planning, it should be possible to be concise and specific with your request and reasons.
3. Be confident but humble
There’s a fine line between confidence and arrogance. Knowing how to be confident with your reasons and being humble at the same time will put you in a favourable light. Arrogance will not.
4. Show gratitude and positivity
Being positive about why you like your job and being grateful for the opportunity is always a good start before broaching a pay rise request. It puts you on a good footing.
5. Explain why you want to stay in this job instead of looking elsewhere
This one requires careful thought over how you proactively address the point about you wanting to stay working for your current employer. If this is not worded sensitively, it could backfire and come across as though you’re threatening to leave if they don’t give you a pay rise.
If it’s worded carefully then it will come across as though you value your employer and want to remain loyal to them, even though you may consider jumping ship if they’re not valuing your contributions.
Things NOT to do when asking for a pay rise
Below are key things not to do when asking for a pay rise. This can work against you, and the repercussions could be long lasting even if you don’t get your request granted.
1. Show too much emotion
2. Talk too much
3. Become defensive
4. Be demanding or entitled
5. Threaten to leave the company