You believe that you deserve a pay rise and I’m here to help you prove it to the world. It does not matter if you are working 9 to 5 or if you’re self-employed, below principles are applicable in both situations.
Asking for a pay rise is a rather delicate operation. You can’t just demand it without reasonable justification. If you are asking someone else to pay more for your time or service, you need to show them the extra value that you provide and what your efforts deliver for them.
Write down why you deserve a pay rise.
The purpose of this exercise is to have a clear understanding that you have gone beyond your assigned duties. How have you helped your business or boss exceed their personal or business objectives? You can make your justification tangible by quoting numbers like the number of clients you brought to the business and how it has translated into the additional income. Or you can make them intangible by using facts about what you have done to improve the business.
It is also a great exercise to make you believe in your own achievements and contributions. It will also prepare you for that conversation.
Research the market.
When you’re thinking about your pay rise, you may have in mind a sum of money. As much as I would love to tell you “go for it”, you will probably need some benchmark to support your argument and conducting market research is a great tool to gather that information.
I don’t want you to obsessively compare yourself to others – that’s not the point. The end of the day, you’re unique and your skills can’t be simply compared to others. Instead, gather some understanding, if the amount of money you will be asking for sounds right. It may turn out that you will be asking for more than you previously thought!
Pick the right time.
I know – waiting for the right time can take forever, but I don’t mean procrastinating. Think about the rhythm of your profession and work around it, for example don’t approach your boss with a pay rise conversation on a busy Monday morning, or on a Friday when they want to switch off for the weekend. You will need 100% of their attention, so try to schedule a meeting with them, where you will be able to outline your request.
Prepare a plan pay rise 2.0.
You may need to negotiate, if your pay rise request isn’t feasible for your employer. How much would you be able to compromise? Would you be willing to trade part of your requested earnings to get better company benefits? Every single one of us is motivated by different things, so having another plan that you know will be beneficial for you is key. You don’t want to be left with nothing after all that effort.
Your pay rise request has been declined, so what’s next? Ask for feedback and find out why in your boss’ opinion you don’t deserve to be paid more. The reason may be out of your control, like a company going into financial hardship. It can also be something that you can work on, like additional objectives or training to meet that requirement. Either way, you need to find out why your pay rise isn’t approved right now.
You most likely don’t agree with the decision and you’ve got two options. You can either work harder and resubmit your request in the next few months or so, hoping that you’ve done enough. Or you may need to consider moving on from the company and finding a new opportunity that will welcome you with a higher salary.
Don’t take it personally.
Most importantly, don’t blame yourself – things like that are very often set from the start in the corporate environment. In these situations, there is little you can do to change it. Whichever option you choose (prove them wrong or try something else), it will come from your heart. Only you know how it will affect your everyday performance.
Don’t let it in and look at the bigger picture – maybe there is something better waiting for you behind this experience?
Meryl Streep once replied after being rejected by an agency for being too ugly to be an actress “this is only one opinion in a sea of opinions”, so go and get an opinion that suits you.
What were your experiences with a pay rise request? Have you got any tips that you could share with our tribe?
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