It’s almost the end of a financial year and employees are probably planning, getting ready and hoping for a pay rise. Your employer and boss knows about that, and you can use some tips to get the pay rise that you have been after for.
Negotiate from a power position
Clearly demonstrate and document your contribution. If you would be hard to replace or your role is critical to a project, then you will have extra power. Remember, pay rises are not about “fairness” – they are a business decision like all other business decisions. Just because you work longer in a company doesn’t mean that you will be entitled for a pay rise.
Review your job description
Are you doing what you are hired for? Or anything else extra since you’ve joined?
All jobs change over time. Make a list of all the extra tasks you’re doing outside your job description. Once you have done this, rank them in order of what your boss views as important. Again, link each task to an “outcome” – revenue, new business, cost savings, product quality and so on.
Get an idea of your worth
Talk to people in your industry. Read salary surveys and reports. Check in with your personal and professional network, industry association and favourite recruiter and ask the HR department for a salary band for your role.
Making the pitch
Use phrases like ‘I would like you to think about’ and ‘at an appropriate time …’
“So it goes something like this: ‘Jane/Jack as you know I have been with you now for nine months and the job has developed in some interesting ways, particularly in xyz.
‘I’d like you to review my salary. As you know, the range for my job is from x to y. I understand you’ll want time to think through my contribution and my market value. I have given the matter a lot of thought and done my research. Thanks for looking at this. I know you’ll do your best for me’,”
Interpreting ‘the news’
Whether you get a raise or not, have a “reaction plan”. You should also learn to interpret how your boss tells you about the “news”.
If the anser is “Congratulations, David! You did a good job since last year and provide good service and value to our company!”, then you know that your manager/boss values you as part of his team.
If the answer is: ‘We can’t give you an increase right now but let’s look at it in three months then he or she probably means it. If you get an outright ‘no’ then think about changing jobs.