Getting to the end of the month and you’re having to dig deep in your pockets? Think you’re due a pay rise?
Securing a pay rise is entirely up to you. If you want to get more than the inflation +1% standard deal, you’ll have to work hard to prove your case.
But if you plan properly you can increase your salary by 10 per cent.
Use our easy step guide below as your ticket to success.
1. Do your research
Look at your company and your peers. How much are workers with the same job title as you but in different departments being paid?
What are the industry benchmarks? Findings from the Chartered Institute of Marketing’s Croner Rewards Marketing Survey are released every September outlining the average salaries for marketers. Marketing Salaries Benchmarks
Alternatively, take a look at the jobs section here at utalkmarketing. We’ve got some of the best jobs in the industry being advertised which will give you a clear indication of salary averages.
2. Pave the way
Drop a couple of hints to your boss that this is a subject you want to discuss. This way, when you ask for a formal meeting it won’t be sprung on your boss out of the blue.
3. Timing is everything
Choose your timing to ask for a formal meeting carefully.
“There is little sense in grabbing your boss when in the middle of a crisis or keen to dash off,” says career consultant, Sherridan Hughes.
“Wait until s/he is in good humour, perhaps having just returned from holiday or having just won a big account and ask to have a private word. Do not just blurt out “I want a pay rise!” in front of everyone.”
4. What you need to prove
Be clear about why you think you deserve a pay rise. Be able to demonstrate how the company’s profits and growth can be attributed to your activities.
Try to keep a record throughout the year if possible, rather than trying to pull things together last minute.
Corinne Dauncey from tiptopjob.com, says, “You will need to explain what skills and benefits you have brought to the company, how you have excelled in your role and how you are a loyal employee.
“Focus on your knowledge and experience and the way you have grown and developed whilst working for the company.”
5. How to prove it
Things to present to your boss in making your case include:
- Outstanding projects you have managed, led, completed
- Awards you have received
- Procedures you have put in place that may have saved the company money
- Tasks you have been individually assigned to do due to your unique skills and abilities
- Additional tasks and responsibilities beyond what’s expected
- Expectations exceeded
- Achievements that stand out and you feel you deserve credit for
- Anything you have excelled on and been praised for
You need to be able to explain all of these points in detail and show that these are the reasons why you should be considered for a pay rise!
6. Get promoted
It’s an obvious one but with a advancement in your job title should, in theory, come a pay rise. If not, go back to doing your research to prepare for making what should be an even stronger case now.
Michael Ham of Acuo Recruitment, says, “Think about what you need to do to get to the level you want to be at - take that extra step to learn more for yourself, maybe pick up more technical skills.
“It's also great to hone in on a specialism - so if you feel you excel in one particular area expand on this - it relates back to feeling like a worthwhile member of staff.”
He adds, “Go and do things off your own back if needs be, if you feel you need further training and accreditations look into CIM and IPR courses.”
7. The sneaky approach
Not that we would encourage this or anything, but, in confidence, tell someone senior to your boss that you have an unsolicited job offer with another company offering a big pay rise. Add that you want to remain loyal to your company though.
If all goes according to plan, then the senior will have a word with your boss and a pay rise maybe on the cards.
There is a catch. This strategy depends on how much you are valued by your boss. If you’re not rated, they may be hoping you’ll walk.
8. How much you should ask for
It’s likely your initial request will not be met so ask for more than you anticipate to give yourself room to manoeuvre.
It’s essential to bargain. It’s likely you’ll achieve a middle ground so aim high, but not so high your boss thinks you’re a chancer.
9. What if your boss says, No?
Use the feedback from the review to work towards the next. You need to understand the reasons why he/she has said no and reflect on them.
Corinne Dauncey says, “It may be due to the fact that you are still in the learning curve at work and developing new skills, in which case, once you feel fully developed; it could be time to ask again.”
You should try and get your boss to commit to a timescale for your next review so that you keep your desire for a pay rise on their agenda.
In the meantime, they my have said no to a pay rise but do not be afraid to ask for non-financial benefits such as, a work mobile phone or extra holiday.
Alternatively ask for training and development. The company may be more inclined to pay for this, as you will be learning more and bringing more value to the company.
10 …Or just move on
If your job is not delivering? Then perhaps it’s time to look elsewhere.
Write down where you plan to be in five or 10 year’s time, then set targets against timescales to achieve this.
Michael Ham, concludes, “A great tip is to look at dream job adverts and work your way to being able to meet all they are asking for.
“Ultimately your career is in your hands, so if you’re focused on getting to a certain level, (and have the talent to support your drive!) there’s no reason for you not to achieve your goals.”
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