Asking for a pay rise

Did you know one in five of you will ask for a pay rise in the next six months and 62% will be successful?

Asking for a pay rise is difficult anytime. But most employees will have the opportunity to talk openly about their pay rate at an annual performance review.

A friend of mine told me this story from her workplace: 

She is two years in a position is paid more than a more experienced longer serving colleague.  Her colleague went to their manager and asked for a pay rise. 

She was quickly advised her colleague was bringing in significantly more business than she was, hence the difference in remuneration.

Your pay rate has to be reflective of the value you are adding to the organisation, as well as parity in what others in similar roles (either inside or outside of the organisation) are paid.

Performance reviews are not only a time to talk about pay, but to assess the value you have brought — and continue to bring — to your employer. So before you ask, be sure to be prepared with evidence that you are of more value to your employer than your current pay rate reflects.

Ask yourself:

What you have personally done to increase revenue or save time and money within the organisation? 

What specific value have you added? What attributes do you bring to the role that are exclusively you?

Write these answers down and have evidence to back up your claims.

In preparation for your review, ask a friend or mentor to hear your pitch and give very critical feedback from the perspective of your employer.

Be crystal clear about what you want.

Be clear about what you are looking for or it could be mistaken for a request for a pat on the back. Your communication needs to be very clear — ‘I would like to discuss my remuneration’, or ‘I would like to discuss how my performance success can be reflected in my pay’.

Compensation for jobs well done also comes in the form of bonuses — but if there are no clear outlines on how your bonus is achieved (sales targets, for example), or too much reliance on overall organisational performance, then it’s your personal compensation package that needs to be discussed.  I have had this discussion in a few workplaces and particularly in larger organisations a lot can be set in stone.

Be open but not emotional in the conversation.

Ask for feedback.

If you feel you are being shut down, take a breath, and ask for a more suitable time to resume the conversation.

I have had many friends call me from the bathroom mid pay negotiation for some calming words of encouragement!

Prepare to hear some constructive criticism

At your review, you might be met with constructive criticism about your performance or your contribution to culture within the organisation.

Take this feedback seriously, not personally. It will help if you have an idea of where you might improve in your role or have identified issues and how they can be addressed.

Depending on the nature of the feedback, you need to be prepared to be knocked back or refused a pay increase at this time.

Don’t be discouraged — Ask for training and development to be able to get to where you want to be and be sure to request a meeting to review the changes (and your pay increase request) at a time that is agreeable to both you and your employers.

Most importantly make up your mind to be paid what you are worth, because you are worth it!

Phoebe x