Recruitment industry research has revealed that most companies plan to give salary raises in the first half of 2022. A year of high turnover rates, mass resignations, and talent shortages has incentivised employers to financially reward their A Players and top talent.
But what about if your employer isn’t in the ‘pay rise’ camp? How do you go about asking for a pay rise if one isn’t forthcoming?
Asking for a pay rise is an anxious prospect. Even if you know you are deserving, approaching your boss on the issue of salary is daunting.
Here are our top tips for employees requesting a salary raise.
Always put it in writing.
It’s a good idea to formalise your request by putting it in writing. Whether it’s an email or printed letter, this will allow you to highlight your accomplishments and underline where you have exceeded expectations or targets.
Your letter should be a comprehensive and factual account of why you feel like you are worthy of a salary raise. Before you start to write your letter, you may like to consider these areas.
Salary Research.
Your request needs to be realistic and in line with the realities of today’s job market. Salary variations are subject to location, time in the role, company size, and a whole range of other variables.
Making sure you carry out comprehensive research will help you determine if you are being paid fairly, or if your employer isn’t being competitive.
Your boss may well turn the tables on you and ask how much you think you should be receiving. Making sure you are knowledgeable is key to arriving at your desired outcome. You need to have a figure in mind and make sure it is backed up by accurate and realistic data.
Timing is key.
One of the most important steps in ensuring success is to ask at the right time. You need to check your company’s yearly activity. For example, are pay rises only considered at a yearly review, or are they given out throughout the year?
Tact is critical too. If the company is suffering financial instability, in the middle of a hiring freeze, or making staff redundant it doesn’t matter how great you are. In situations such as these, asking for a pay rise will at best be turned down. At worst, you will appear to be unaware of your environment and/or industry, not to mention unsympathetic to your colleagues.
Make the request.
Once you have done your research and identified the right time, you are ready to make your pay rise request. You should email your manager and ask to meet with them to discuss a review of your salary.
In your email, outline your contributions clearly and concisely using bullet points to inform exactly where and how you have excelled in your role.
Your bullet points may look like this or cover similar topics.
- Taking the lead on …
- Meeting goals in …
- Improving efficiencies that led to a savings of £X for the company …
- Achieving success in …
- Adding to my (skill level or education as it relates to the job) …
Remember, this request is about YOU and your ability, so don’t reference the salary of your colleagues – or what you have (heard) someone else earns.
Set the stage.
Next in your letter, you can then set the stage to ask for the salary you are seeking.
This may look like
- “Could we have a short discussion to review my salary or devote a few minutes to that topic during our next one-on-one meeting?”
Alternatively, if you are approaching a performance review, you may like to ensure that this is a topic you and your manager discuss.
This may look like
- “I would appreciate the opportunity to discuss my compensation during my performance review?”
Need to follow up?
What about if you have already set the stage and asked the question? If you need to follow up on your request, your email may include
- “We’ve discussed my wish for additional pay, and after some research, I’d like to request a salary increase of X percent.”
Use numbers, facts, and data.
Your request will be harder to turn down if you have data and numbers to back up your request. If you have been specific with a figure or percentage you have in mind, explain how you landed on the salary figure you are requesting by being detailed and factual. Facts don’t lie so you could cover
- Money saved
- revenue earned
- services improved
- responsibilities adopted
Your request should reflect the value you bring to the role, the goals you’ve met or exceeded, the results you have delivered, and the industry averages based on your job skills and years of experience.
Acknowledge the consideration.
You must always thank your manager for their support in your role and for considering your request.
It’s important to remember that in most cases, the decision to ‘OK’ a pay rise may not lie with your boss. They may need to go to a decision-maker or HR, even if they personally agree with the value you have added through the work you have done. Patience is important; these conversations and the ensuing negotiations can take time.
Remain professional.
If it doesn’t go your way, it’s critical you remain calm and professional. Instead of getting angry, ask for some clarity on what would be required for a future salary increase, and set a time to check in again.
You then have some tangible goals that will set you up to succeed next time.
The takeaways.
When asking for a pay rise you should
- Put in in writing, either an email or written letter.
- The letter should be factual using numbers and data where possible.
- Do not compare your salary to those of your colleagues.
- Do not include personal reasons why you may need more money.
- Do your research around the job market at the time. Think about your location, the size of your company, and the time you have spent in the role.
- Identify the right time to make the request.
- Set the scene for the request.
- Have figures to back up your request based on your accomplishments.
- Express your appreciation for the consideration.
- Be patient. These things take time.
- If it doesn’t go your way, stay calm and ask for advice on what would ensure success next time.
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