Think you should get more money for doing your job? At times we can all feel undervalued in our job but have you really thought about what you are worth? If your current role is not your dream job – the chances are you could be underperforming. You can’t just expect to get a pay rise without first building a case. Here’s how to argue getting a pay rise – making your life in London better.
Don’t just beg. You need evidence proving you deserve a pay rise. Without the evidence justifying a pay rise, you have little chance in actually getting one. You need concrete evidence to prove you deserve the extra money you are asking for.
Go through your job description and contract – highlight your responsibilities and key tasks and:
1) Prove how you have completed the tasks as expected or even better, how you have performed better than expected.
2) Prove how you have gone beyond the description to deliver – this could be anything from working late to taking on extra tasks.
3) Have you taken on extra responsibility? Taking on extra roles involving managing money or people are great ways to prove you are worth more.
4) Can you prove you have made or saved the company money? – This can include attracting more clients.
If you can prove any of this, you may have a case to ask for a pay rise.
Take on extra responsibility
If you can’t prove any of the above and you still think you should get a pay rise, the only way you can justify it is by actually taking on more responsibility. Asking your employer for more responsibility is a pragmatic approach, even if they can’t offer you more now, ask for more in the future.
There’s no point going into a pitch without understanding the industry standard for salary. Search for similar job titles – note the responsibilities – if they are similar record the salary. You could also compare jobs within your company that share the same roles and responsibilities.
Don’t think of asking for a pay rise on a Monday morning or a Friday afternoon. Or, for that matter, when you or your boss are too busy to talk. You need to work out, based on your company’s working practices, when would be the best time to ask for a pay rise.
The results of a poll suggests Wednesday as the most successful day to ask for a pay rise. Remember, rather than just mentioning it in passing to your boss, you need to set up a meeting – when you both have time to address your issues and go through your argument in the detail it fully deserves.
When setting up the meeting to discuss a pay rise, don’t tell your bossthe purpose of the meeting – to discuss a pay rise – chances are, you’ll get a straight ‘no’ and you’ll miss your opportunity to present you case objectively. Tell them it’s to discuss personal matters or development.
Use your Brain
If your company has just announced job cuts – it’s obvious that it’s not an appropriate moment to suggest you deserve a pay rise. On the other hand, if they’ve just announced a huge profit increase, go for it – youll have a much better chance of successfully asking for a pay rise.
Performance Related Pay
You may have worked particularly hard this year but that alone may not justify a pay rise – have you achieved all of your objectives? Have you gone beyond your job description?
You could suggest a performance related bonus or a pay rise subject to greater achievement i.e. if your performance is better than expectations you should get more money. This is a pragmatic approach and your employer should respond to the suggestion well as, rather than just asking for more money, you are actually offering something for it.
How much value are you adding?
Remember when you present your case, it’s got to be about what you can do for company that makes you deserve a pay rise – rather than just I need a pay rise. When you state your case tell the company what they will be getting for their money.
Each point you raise needs to be backed up with facts and stats i.e., according to industry standards you are underpaid or you attracted X amount of new clients resulting in X of sales/profit.
Get your boss on your side
Most probably your direct boss will not have the authority to agree to pay rises. Make sure you present your case to them clearly, in person, backed up with facts and presented in written form.
Get your pitch ready
Gather all of the information you have gathered – industry standard pay, proof doing more than expected etc – into a written and spoken pitch which shows your boss you are worth more money to the company.
Create a written document detailing your main arguments. This will help your case as your boss will need to justify your pay rise with their bosses.