Asking your boss for more money will never be easy and how you approach them can either result in a positive outcome or a very short negative answer.
Below looks at the issues and factors you need to consider when planning, negotiating and asking for more money.
Know what you are worth
Research the market to get a clear understanding of what the going rate for your job is. Search for relevant job ads or use an online salary checker.
Location and industry sector affect pay rates so make sure you factor that in.
Demonstrate why you are worth more money
Very few employers are going to give you more money just because you have asked. If you are going to ask for more money than you’ve previously agreed to be paid, you need to prove to them what’s changed.
Look at your job spec and make a note of anything you have done that’s gone above and beyond your ordinary duties. Make a note of all of your key achievements to support this.
Finally, think from your employers perspective. If they are going to pay you more, they want commitment from you that you are invested in the business. Think about how you are helping the business to grow now and in the future.
It's all about the timing
Pick your moment carefully as this could be decisive. Appraisals are an good opportunity, otherwise, try to set up at a meeting at a time that’s convenient for your manager.
Many companies have procedures for pay rises so if possible, research this in advance.
Don’t get emotional
It’s widely accepted that in these situations, emotion doesn’t work. Plan carefully how you will make your request, but also have a clear idea of how you will respond should your employer say no and have rational arguments for any potential blocking actions by your manager.
Remain calm especially if things don't go to plan. No doesn't always mean no, so there could be channels to explore in the future.
It won't matter how deserving you are of a pay rise if there is a company-wide pay freeze in place, or budgetary constraints for your role. In these situations try to stay positive.
If you are serious about wanting a pay rise in the near future and there is no money for a pay rise in your current position, ask your manager what you need to do to earn a promotion.
Offer to take on more responsibility. And if your request is rejected on the basis that you don’t deserve one, ask for specific and constructive criticism.
If you’re interested in securing a better paid job, speak to one of our expert consultants today on +44 (0) 1329 227 000.