Whether you’ve had your job for one year or ten, asking for a pay rise is a stressful experience. But being able to negotiate a raise is an essential part of a fulfilling career!
Unfortunately, it’s rare for a manager to offer an increase in salary unprovoked. If you want to be paid what you’re worth, you have to be willing to ask for it. And, for the best results, you have to know how to do so with professionalism and confidence.
This is a tough task for anyone, but we’re here to help! Read on to learn everything you need to know about preparing for and navigating a pay raise negotiation.
Consider Why You Deserve a Raise
Everyone wants to make more money. And while there’s nothing wrong with that, a simple desire for more money probably won’t be enough to get the increase in pay that you’re looking for.
Instead, think about why you want to ask for a pay rise. What have you done to deserve it? Make a list of your accomplishments and responsibilities to bring to the meeting with your manager.
Choose an Amount
Once you’ve thought about your value to the company, it’s time to choose the amount you’re going to request. It’s important to be realistic with this step. Consider how your company is doing as a whole – are they stagnant or growing?
Next, do some research into the average salary range for your position. One of the best pay rise negotiation tips we can give you is to choose your number carefully. It should be high enough that you’re still satisfied if your manager makes a counteroffer, but low enough that you don’t ask for more than your position is worth.
Think About Other Perks
Speaking of counteroffers, it’s not unlikely that your manager will offer you perks in place of a monetary raise. For example, they might offer more vacation time, stock options, or other improved benefits instead of or in addition to a pay raise. Consider whether you’d be willing to accept such concessions.
Practice the Conversation
When asking for a pay rise, you want to do so with as much confidence as possible. It’s okay to be nervous, but don’t let it show during the meeting. If you need to take some time to build your confidence before the meeting, do it!
To ensure that you have the right wording, tone, and inflection during your talk with your manager, it’s a good idea to practice the conversation beforehand. Ask a trusted friend or family member to rehearse a few times and write down any details you want to include in your pay rise negotiation.
Meet With Your Manager
You’ve done the prep work needed for success, now it’s time to schedule a meeting with your manager! Be calm and polite, but don’t waste any time in this meeting – it should be short and to the point.
Take a deep breath and layout your request, then wait for a response from your manager. After the meeting is over, thank your manager for their time, whether you got the raise you wanted or not.
If you leave the meeting unsatisfied, you have two options. You can continue working for the same company and hope for a raise in the future, or you can start reaching out to recruitment agencies in search of a new job.
Get What You Deserve With a Pay Rise
Even if you absolutely love your job, you deserve to get paid what you’re worth. If you feel that your experience, accomplishments, and responsibilities are worth more than your current salary, it’s time to ask for a pay rise!
Whether you get the raise you want or begin your search for a new job, it’s important to get off on the right foot going forward. Take a look at our blog to learn how to become the best employee you can be!