How to score the pay rise you're hoping for
Thinking about asking for a pay rise? You're not alone.
According to the 2018-19 Hays Salary Guide, 48% of skilled professionals say they intend to ask for a rise in their next review, with another 24% considering doing so.
The bad news is that Hays research also found that the salary increases employers intend to offer this year can best be described as "restrained".
To help score the pay rise you're hoping for, Hays offers these tips:
- Prepare a list of your recent achievements that exceed your objectives. Also list any changed or rising work volumes or duties you're now undertaking and consider projects you've been involved in.
- List the resulting benefit to the company. The aim is to provide strong evidence to support the value you provide, so focus on outcomes.
- Research the salary you feel your performance is worth by reviewing a recent Salary Guide. This enables you to support your request with evidence and demonstrate that the salary you are asking for is in line with market rates.
- Ask your manager for a meeting to review your salary. Keep it professional. Stay calm and focused. Do not become emotional and do not talk of how much money you need to cover your costs.
- Have a fall-back position. If your employer cannot afford to increase your salary, can you agree on a date for another pay review in three to six months? What about additional annual leave, study or other benefits?