It is possible to increase your wage by simply asking your manager or supervisor for a pay rise. Getting them to do so, on the other hand, requires meticulous planning and strategy. Asking for a raise in the proper manner can increase your wages and draw attention to your worth as an employee. In this post, we’ll go over several strong reasons to ask for a raise, as well as the actions you should take to maximize your chances of getting one.
Why Should You Know How to Ask for a Pay Rise?
Knowing how to ask for a raise the right way improves your chances of getting one. There are numerous reasons why you should request one. For instance, you could:
- Show initiative at work and go above and beyond.
- Your responsibilities have grown.
- Have done extra training.
- Demonstrate your dependability as an employee by routinely meeting deadlines and generating accurate work.
- Have more experience than you had when you previously obtained a raise.
- Feel that your remuneration should mirror the industry average.
How Do I Find Out if I’m Underpaid?
Before meeting with your supervisor, do some research on what peers at a similar level, as well as those in comparable jobs at similar-sized firms, earn. In this manner, you might argue that your current salary is not competitive in the market.
Look at how much similar roles pay. It’s a terrific way to evaluate what similar occupations pay in your area, with over 150,000 opportunities across a variety of industries.
When it comes to asking how much coworkers are paid, proceed with caution. Some employment contracts include language that prohibits employees from releasing compensation information to third parties. However, this is unenforceable if your goal is to uncover pay discrimination based on age, gender, or race, for example.
You have the legal right to disclose your income to your colleagues for that purpose, or to ask your colleagues how much they are paid, and it is illegal for your employer to punish you for doing so, or for your colleagues to comply with your request.
Money can be a touchy subject, so don’t be surprised if your coworkers refuse to divulge their earnings. Even if they do, think twice before using it as a bargaining chip.
Steps on How to Ask for a Pay Rise
Here are a few things you should do to improve your chances of getting a raise:
#1. Choose the right time
Asking for a wage raise while your manager or supervisor is receptive will boost your chances of success. Several things will impact their openness, including:
- The financial health of the company: when a company is financially successful, it is more willing to invest in its personnel. Your company’s financial health is presumably excellent if it is recruiting new personnel, acquiring new clients, and expanding.
- Their workload: A manager with a stable workload has more time to focus on you and your request than a manager who is extremely busy.
- The time of year: If your business conducts regular employee reviews, these meetings are an excellent opportunity to discuss your wage. Another good chance arises with the start of a new fiscal year.
- Your most recent accomplishments: Recent accomplishments, such as exceeding a sales target or leading a successful project, might reinforce your value and persuade your manager to favorably consider your request.
- Your work progress: you are more likely to be successful if you request a raise after completing a project rather than in the middle of a large assignment. Before requesting additional funds, complete any outstanding tasks or items on hold.
#2. Research salary trends
Salary trend research allows you to learn about the pay of other professionals in similar roles.
Professionals with more experience and a higher education typically earn a higher salary. Earnings can also be influenced by location and the cost of living. Examining job postings for similar professions in your area will assist you in determining fair compensation. Most bosses will try to compromise with you if you ask for a bit more than you want.
#3. Schedule a meeting with your manager
Set up a private appointment with your boss to discuss your pay. You can request a meeting with your manager in person or via a video conferencing platform. Suggest a meeting to discuss your performance rather than your compensation, as some supervisors want to avoid discussing money.
‘I’d like to meet with you to discuss my performance,’ you might remark. Does a 30-minute meeting starting at 1 p.m. on Thursday work for you?’ Set aside at least 30 minutes to discuss your plan in full. Afternoon meetings are ideal because individuals are usually at their most relaxed after lunch. You do not need to schedule an additional meeting if you have a pending performance appraisal. These scheduled sessions are excellent venues for salary discussions.
#4. Prepare and practise your script
Making a script for asking for a raise will help you feel more secure during your meeting. You can compose a list of bullet points or a more complex screenplay with whole phrases, depending on your level of comfort with speaking. Your script should have three major sections:
- An introduction: explain why you called the meeting.
- The body of your speech: The body of your speech should include your ideal income, how you arrived at that figure, and why you believe you deserve a raise.
- Your conclusion: Your conclusion should summarize your skills, including your desired wage increase, and encourage your manager to comment.
- When writing your script, emphasize professional motives over personal ones. Because your supervisor represents the organization, benefits to the company are persuasive. Use confident language and facts rather than emotional words like ‘believe’ and ‘feel,’ which can sound unsure.
At home, practice your script in front of a mirror until you feel comfortable presenting it. Your preparation should assist you in remaining cool during your meeting.
#5. Dress for business
Dressing nicely on the day of your meeting will make a good impression on your manager and help them regard you as a more senior, serious member of staff. Dress as if you were going to a job interview or a big presentation. A suit or dress may seem out of place if your employer has a casual dress policy. A sophisticated shirt or blouse with dress pants or a skirt, on the other hand, might boost your image.
#6. Ask for a pay rise
When you walk into your boss’s office, you’re ready to ask for a raise. Deliver your prepared script at your own pace. Maintain eye contact to demonstrate your self-assurance. To engage them and establish your connection, subtly replicate your manager’s stance and movements.
Allow your management time to respond after delivering your idea. They could be interested in learning more about the accomplishments or initiatives you highlighted. Respond intelligently to their queries, emphasizing your positive contributions.
After gathering all of the necessary facts, your manager may attempt to bargain with you. Return to your research and accomplishments as proof that you deserve the entire pay increase. Inquire with your management as to why the whole sum is not possible. Budget limits, for example, may be an issue beyond their control. Before increasing your income, your manager may want you to have more skills, training, or responsibilities.
If your boss rejects your request by denying any pay raise or agreeing to a lower wage increase, asking questions may help you get your ideal income in the future. Inquire about:
- desirable abilities or accomplishments that might raise your compensation.
- their views on your entire performance.
- whether it would be appropriate to revisit the subject.
- You might also inquire about non-monetary compensation. If there is no funding for a wage raise, your boss may agree to additional job advantages such as working from home or using a company car.
#7. Thank your manager for their time
Whether they agree to your pay increase or not, thank your manager for meeting with you. Thank them in person, then again in a follow-up email later that day, or the next business day if you had an afternoon meeting. In addition to thanking your manager for their time, your email should summarize why you believe you are deserving of a pay raise and the items you addressed.
Use the following email as inspiration for your own thank you email:
‘Dear Ms Antony,
Thank you for taking the time to meet with me this afternoon to discuss my compensation. I mentioned the MBA I received through independent study during my five years at the company and my increased role in hiring and training salespeople. I also noted my strong sales record, including exceeding sales targets repeatedly by 15% to 30% each month.
I understand budgets are tight at the moment and appreciate your offer of a 4% salary increase. While it is less than the 7% I asked for, I hope that when we regroup in a year’s time to discuss the matter, as you suggested, I can look forward to a further pay rise.
Thank you again for your time and consideration,
Oliver Smith’
Keep the email for future reference. It provides a clear record of your meeting if you need to follow up on a pending decision or look back on how to ask for a salary raise at a later date.
What is the Average UK Pay Rise?
According to the CIPD’s national compensation surveys, 64% of private sector workers earned a raise in 2008. This ratio has fallen to 52% eight years after the onset of the financial crisis. In the public sector, wage hikes were given to 73% of employees in 2008, compared to 58% in 2016.
With widespread pay freezes and 1% pay increases for many public sector workers, the average UK pay boost now falls short of keeping up with rising living costs.
The Retail Prices Index for December 2016 was 2.5%, yet just 17% of UK employees received a wage increase of 2.5% or more (20% of all private sector employees and 1% of public sector employees).
A wage increase of less than 2.5% was received by 35% of workers (30% of all private sector employees and 51% of public sector employees).
What is a Reasonable Pay Rise to Ask for UK?
Even when inflation is higher, a 3% yearly pay rise is considered generous. This basic rule should not deter you from asking for extra money if you believe you are being underpaid. Check out our guide to lowering the cost of childcare for family budgeting ideas.
Am I Entitled to a Pay Rise UK?
Most employees believe it is their legal right to be paid more for each year of continuous service. However, this is incorrect. There is no regulation requiring employers to give raises or even consider requests (unless it is a contractual requirement). It is up to you, as an employer, to accept or deny such requests.
Is a 5% Pay Rise Good UK?
According to the CIPD, the 5% wage rise forecast was the biggest since at least 2012, when the quarterly study began. However, with inflation at 10.5% in December, 5% would not be enough to prevent a significant real-terms salary drop.
Is it OK to Negotiate Salary UK?
This is very normal, and most employers will be pleased to accommodate you. Even if you’re content with your current income, taking some time to reflect is always a good idea. If you haven’t already talked about salaries as part of the process, the employer will expect some haggling at this stage.
How Often Should I Get a Pay Rise UK?
In general, you may expect to discuss compensation or a pay increase at least once every 12 months; ultimately, employers decide whether and when to boost employee pay.
Conclusion
It’s reasonable to want a raise when you work hard and go above and beyond your job description or exceed your coworkers. Money is a symbol of your worth to the organization, and feeling underappreciated can have a detrimental impact on your confidence.
However, obtaining a raise can be nerve-racking. When to contact your supervisor, how much to ask for, and what to say all require careful consideration. This article has covered everything you need to know.
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