Find the annual salary review daunting? Do you sit on your hands or go all in? Here’s our tips on How to approach your employer for a pay rise in 2018.
You’re a gun employee, worth your weight in gold, and worked to the bone. Sound familiar? Many people believe their skills and talents are worth so much more than they are rewarded for. Often, what they are not so certain about is the best way to go about getting compensated.
If you picture yourself within these realms it could be time to ask for a pay rise. But what is the best way to go about it?
There are generally two breeds of people when it comes down to playing the pay rise negotiation game;
- those who are naturally talented (just like our professional resume writers are with writing resumes)
- and, those who get nervous at the thought
When credit is due, you won’t get anywhere unless you put your best foot forward. And, as daunting as it may seem, here are a few things you can do to ask about the elephant in the room – a pay rise!
Ask yourself why
If you can’t convince yourself how are you supposed to convince anyone else? The first step to a successful pay rise negotiation is coming up with concrete evidence to back up your request. The best place to start – your job description.
- Are you continually going above and beyond the call of duty? Be cautious not to concentrate on examples which portray you doing someone else’s job. Why are you covering for them anyway?
- Have you taken on more work or responsibilities than what is outlined in your job description? Is there a new employee who you are responsible for training/overseeing? Has your job covered part of the duties for someone who has been promoted, etc?
- Validate your claims with figures wherever possible (and that doesn’t always mean dollars) – exceeded budgets or KPI’s by X amount, introduced X number of new clients to the business, created new procedures that have generated more collaboration, streamlined X processes, etc. Most bosses will resinate more with figures as these ultimately affect their bottom line.
Know your value
Take a look around the various job sites to establish an indication on what similar jobs are paying. Review their roles, areas of responsibilities, and level of employment. Remember that salaries are quite varied from state to state in Australia. Select comparisons within your own state or territory for more accurate indications.
Recruitment sites and professional organisations also offer salary comparisons which could be beneficial. Here are a few that we found which have salary information readily available:
- Robert Half: 2018 Australian Salary Guide
- Hudson: Salary Guides and Australian Salary Calculator
- Professionals Australia: Salary Calculator
No matter the evidence you find online – be realistic. Doubling your salary is probably not going to come off that well. Remember, your boss also does not ‘have to’ give you an increase in pay.
Prepare your notes and request a time to meet
Don’t go into a negotiation off the bat. Give your boss an opportunity to be prepared too as he/she will likely be more appreciative of advanced notice (we all know that bosses don’t like being put on the spot!). Request a meeting and make it clear that you would like to discuss your salary.
Schedule your meeting for a time when you know your boss will not have other important matters to tend to. Monday mornings and Friday afternoons are generally not the best times to plan your attack.
Have your notes well prepared and outlined for when you are ready to meet.
Have a backup plan
If you are turned down on the monetary value you were hoping for, try negotiating for other non-financial benefits. A fuel allowance, toll fees to help ease the burden on travelling to and from work, education or training courses to enhance your skills. Or perhaps some permitted ‘training time’ within work hours to undertake an online course that you are willing to contribute towards.
Think about what you would like to suggest as a backup and how the company could also benefit from it.
Successful at your goal or not, be sure to remain gracious of the boss’ time. Ending in tears, tantrums, or ultimatums will only do yourself harm. Remember if you do decide to move on to greener pastures, there is a fair chance you could need a reference and you don’t want to burn any bridges.
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