Asking your boss for a pay rise is about as pleasant as pulling teeth. Yet, it's an essential part of your working life and when the time comes, there are tactical steps you can take to ensure you get the best outcome.
Many of these steps involve healthy communications that engender trust. By ensuring you have a clear understanding of your employer's expectations, and that they have a clear and accountable record of your expectations, this process can be made easier.
It's worth knowing that as you become more skilled and knowledgeable, your value to your employer becomes greater. If your energy is further invested in developing relationships that benefit the organisation and increases your responsibilities, your value increases again.
Sometimes, it pays to rock the boat, a little. There's some truth in the saying, 'The squeaky wheel gets the oil'.7 tips to successfully walking away with a pay rise
Tip 1. Forget the words 'I want' or 'I need'. You might be desperate for some extra cash but that's no reason for your boss to shower you in money. You have to think in their terms.
Tip 2. Think it through. You're far more likely to be successful if you've worked out why you're worth more money. Make a list of your current responsibilities, achievements, workload and all the positive aspects you have brought to the job. Most places will dig a bit deeper and find extra money to keep their best staff happy.
Tip 3. Ask for extra work and responsibility and link this to a pay rise. Suggest a review in three months' time, once you've had a chance to prove yourself.
Tip 4. Be clear about what you want. Yes, you want a pay rise. But when it actually comes to asking for it you might be so nervous you start waffling on about not having enough money to pay the electricity bill. Don't waste your boss's time; get straight to the point and be confident and pleasant.
Tip 5. Ask for an annual salary review. Most companies give performance reviews, so check if they're linked to a salary review, too. Once the date for your review comes around you can politely remind your boss about it.
Tip 6. Know what rival companies are paying. The more detailed you can be, the better. If you've done your research most companies find it a pretty persuasive argument. If you find it tricky to get that kind of information, try browsing the internet for major recruitment firms as lots will provide online salary information.
Tip 7. Be prepared to negotiate. You might not get everything you ask for first time round, so think about haggling a bit. Let's say you want a $2,000 pay rise. It might be clever to ask for $4,000 and let your boss meet you half way.
There are lots of ways to get a pay rise without getting actual money. You can always ask about package options. If your boss can't increase your salary, they may be able to pay for parking or train tickets, or a mobile phone. Perhaps they'll let you buy a new computer pre-tax. And depending on what industry you're in, you might get industry-related perks, like concert tickets, DVDs or use of a company car.