How to ask for a pay rise, in 3 easy steps - CareerAlley

How to ask for a pay rise, in 3 easy steps - CareerAlley We may receive compensation when you click on links to products from our partners. Annual reviews, that time of the year when you get rated and, hopefully, a pay raise. Generally, that means a chance to evaluate how were doing in our managers opinion, and what we could be doing in order to take the next step up. For some of us, annual reviews are also the opportunity to pose the question we all quietly think about asking: do you think its time for a pay raise? Its all very well and good to have high hopes, but in the heat of a meeting, such a rational question might slip out in a format thats Not Quite Right. Here are the three key steps to nailing that tricky conversation. 1. Do your research One cant stress the importance of this enough. The first step will be getting to know your companys pay practices and policies, and when pay upgrades are offered. This will give you a set period in which you can begin to gather the results of your work and/or manage greater responsibility, to demonstrate why youre worth those extra dollars. Next, youll have to take a look at what your industrys currently offering. Sites like Glassdoor and Payscale provide useful indications of what the market rate is for your role, and how this is likely to increase, meaning youll go into your review armed with evidence of what you should receive. If youre lucky enough to work for a company thats paying above the grade, this evidence might not work in your favor. What have you achieved thats pushed the company closer towards its goals? Have you done enough to get a pay raise Tweet This 2. Be straightforward with your manager No ifs or buts. If youre only airing your achievements and your vague inclination that your current role isnt enough, you wont be providing your manager with any practicable way to address your concerns; and if anything, thats only going to ripen into confusion. Theres no need to bring emotions into the fray here, either. If a pay raise is deserved, its likely that both of you have sensed it coming for some time. Meaning, theres no need for flattery or uncertain testing of the waters or, God forbid, guilt-tripping. Its best if you come with a specific figure in mind too, meaning that your manager can go away with a clear understanding of exactly what you want. Any ambiguity will leave it in your manager and corporations hands to debate and if the figure isnt one youre pleased with, what should be a straightforward process could turn into months of negotiation and debate. No Thanks. 3. Substantiate your claims The words are out. Your manager is no longer required to read minds. The question is: are they mentally reviewing all your accomplishments in a positive light? Again, if this is something thats been a while coming, chances are good that they are. But its your responsibility to bring them to the forefront of your managers mind nonetheless, as proof of why youre worth the figure youre quoting. If youve followed up on your figuring out when pay raises are offered (as mentioned in step one), you should have a veritable plethora of achievements to highlight your value to the company. While its important to tie these accomplishments back to the key performance indicators youve been hired for and how youve met them, its even better if you can show youve gone above and beyond by illustrating the value youve added for the company. For example, if youve been hired to manage a transition project, have you not only effected it but also managed to cut down on company costs during this period? Keep in mind that while these accomplishments may be as clear as day in your mind, your managers often juggling a dozen different tasks and priorities and wont be able to quite recall. Thats why its best to be able to provide evidence of what youve accomplished for the business, whether this can be quantitatively or qualitatively analyzed. Try and put yourself in the CEO yes, the CEO, not your managers shoes. What results would look impressive and what numbers do you have to substantiate them? Have you been handed additional responsibility thatll aid the company, which may not previously have been expected? Conclusion What have you achieved thats pushed the company closer towards its goals? Is there a record of your involvement and has your manager seen it? If not, they may ask for a copy, but dont send this along until invited; no-one likes an unnecessary bit of showboating. Of course, asking for a pay raise is still scary, no matter your situation. And its possible albeit unfortunate that in some instances, your company wont be able to offer you the salary youre looking for. And if not, keep in mind there are always other employers wholl consider your assets and experience worth investing in. Why not take a look at our job search for ideas? How to Raise Your Own Salary Price: $14.95 Buy Now from Amazon We earn a commission if you click this link and make a purchase at no additional cost to you. Last Updated: March 2, 2020 What's next? Ready to take action? Choose the right tools to help you build your career. Looking for related topics? Find out how to find the opportunities that help you grow your best career. Subscribe and make meaningful progress on your career. It’s about time you focused on your career. Get Educated Contact Us Advertise Copyright 2020 CareerAlley. All Rights Reserved. Privacy Policy + Disclosure home popular resources subscribe search