Asking for a pay raise is a really difficult thing to do. You might be nervous, you might be fearful of getting rejected, or you may simply not know what to say. However, fear not because I am here to help you. So if you want to get the pay raise you deserve, make sure you read the whole blog.
Here I will cover three things to help you get better compensation and the pay raise you want-
- I will give you seven essential tips for getting the exact amount you deserve.
- I will explain how to overcome an employer’s objections when asking for a pay rise. So if the employer gives reasons for not wanting to give you a pay raise. I will tell you what to say in response.
- I will give you the exact script to use when negotiating a pay raise.
Pay Raise Tip Number 1
Make sure you have a number in mind that you want and expect to get paid and you are going to be happy with. Now, a lot of people go into a pay raise negotiation without knowing exactly what they want. This is a mistake.
Now remember, the employer is going to say to you, well, how much do you want to get paid? And it is essential you give a figure that you are going to be comfortable with moving forward. Because remember, you can’t keep going back time and time again asking for pay raises. So make sure you know the exact figure you want.
Pay Raise Tip Number 2
When deciding the figure that you want to get paid. Make sure you carry out some research. This is very important. Now, there’s several things you should research to determine how much you should be getting paid. Let’s take a look at them-
- Make sure you ask other people who are in similar roles in different companies – what they are getting paid now? This will give you a good indication how much you should be getting paid because if you know the going rate for your position in your industry, it makes your negotiating position much stronger.
- Make sure you check out the numerous online salary tools that are available. For example, glassdoor.com has a ‘Know your Worth’ tool that you can quickly find out what you should be getting paid based on your job title and your industry.
Pay Raise Tip Number 3
This is an important one before you go into the pay raise discussion and negotiation process with your boss, gather details and evidence of previous strong work performance and also where you have already added value to your employer’s perspective of their organization since you’ve been working there.
Now, you can’t simply go into a pay raise negotiation without justifying why they should pay you the amount that you want. Now, evidence can include-
- Outstanding work performance in a specific area of your job;
- Details or positive performance reviews you have received;
- How you have helped the company to increase sales or improve customer service standards, trained up new members of staff; or
- How you have gone above and beyond what is normally required in your role.
So if you do carry out any duties that are outside of your job description, these are good things to mention when negotiating a pay raise. Also, if you get to work early each day or have flexible hours or you stay behind late consistently, these are good examples of evidence you can use to justify getting a higher salary pay raise.
Pay raise tip number 4
Again, this is a very important one. When discussing compensation and negotiating a pay raise, you need to tell your manager what is going to be different once they pay you the salary you want. Now, this is a great way to negotiate and increase the chances of getting a raise. And to demonstrate your commitment to their company for the long term.
So if you came in to see me to ask for a pay raise and you told me three things you were going to do moving forward, that would be of benefit to employees near future, of my company, I would feel really good about giving you a pay raise. So here’s three examples of some of the things you could say that will be different moving forward-
- I have lots of experience using social media. And I think I can help the company attract new customers by helping out with online marketing campaigns.
- I’ve been thinking about the different ways I could help the company save money by streamlining the office supplies and ordering process.
- Moving forward, I want to take on additional responsibilities and get more involved with important projects. That will help the company increase revenue.
So tip number four is to consider stock options for what you will do moving forward once they have given you the pay raise.
Pay Raise Tip Number 5
It is another really important one, and this is to think about timing.
So when is a first interview process good time to ask hiring manager for a pay raise? Well, The best time to speak to your boss about a pay raise is-
- When the company is performing well financially and there is a good feel around the organization. Now, only you will know in your company when there is a positive vibe around the place.
- A good time to ask for a pay raise is when you have finished a really important task or project that has had a positive impact in the organization.
- During your performance review, especially if you have performed to a very good standard throughout the year.
- A good time to ask for a pay raise is at the end of the financial year because this then allows the company to factor in your pay raise within the next year’s financial budget pay raise.
Pay Raise Tip Number 6
It is to consider beforehand whether employers have any objections to job offer. Again, this is vital when preparing for a pay raise discussion.
So what could your manager say when you ask for a pay raise? Well, They could simply say, now is not a good time. Or they could say they don’t believe you are worth the salary you are asking for. So we need to prepare for those objections. So if your boss says to you, now is not appropriate time but not a good time to be asking for a pay raise, go back to them and ask for a date to be put in the diary when you can both sit down and discuss it.
This is a great thing to do because it gives you a firm date to work towards when you can discuss a pay raise with potential employer. Now, if your boss says to you that they don’t think you are worth the figure you are asking for a raise, justify it with the evidence you have previously gathered, including strong work performance.
What you will do moving forward, and also online pay scale information that’s been provided by websites such as glassdoor.com and payscale.com. Now, if your manager offers you a small pay raise of let’s say 1%, you might go back to them and explain that the rate of inflation i.e. the cost of living is higher than 1%, and therefore you will still be worse off with that amount last raise, and you would like them to reconsider an increased salary offer.
Pay Raise Tip Number 7
Now, there’s actually two elements to this tip. First of all, never get offended or take things personally when discussing a pay or raise request. Always maintain a professional manner. This is really important.
And never say, well, if you don’t give me the pay raise I want, I will look for another job. Never, ever say that. And the next piece of advice I want to give you is to make sure you practice the pay raise negotiation with a friend or relative before you go into the discussion with your manager. Now, this is a great way to help you overcome any nerves you might have and to also give you the confidence to ask for the pay raise you deserve.
Pay Raise Negotiation Script
Okay, so let me now give you an example pay raise negotiation script you can use when discussing your desired salary increase amount with your manager. Here we go,
You – Hi. I would appreciate the opportunity to discuss my own job search and candidates current salary with you, please.
I’ve been carrying out some research and collecting evidence about my work performance over the last year, and I believe I am worthy of a pay raise.
Manager – Okay. How much are you looking for?
You – I would like a pay raise of $10,000 per year.
Manager – That’s way too much. And it’s not really a figure the company can afford right now.
You – Well, I have been carrying out some research and the average salary for my role in competing companies is $10,000 higher. Over the last year, I have performed strongly and I’ve worked on several projects that have helped the organization grow. I also spent some time helping the company come up with new ways to increase sales, and I’ve worked hard to help the company save money by suggesting ways we could reduce expenditure in the long term.
Manager – Okay, well, we could probably stretch to a 3% pay raise. Would you be happy with that amount?
You- Unfortunately, I would not be happy with negotiating salary at that amount. Inflation is currently high, which means I would still be worse off with 3%. Also, moving forward, I want to take up more responsibilities because I see my long-term future with this company.
I also believe I am worthy of a higher pay raise because I often carry out duties that are above and beyond my expected role. Would you reconsider my request for a $10,000 pay raise?
Manager – Okay. We are keen to keep you working here, and based on the information you have provided, we could stretch to a $7,500 pay raise. Would you be happy with that amount?
You – Yes, I’d be comfortable with that amount. However, can we schedule in to review my salary again in 12 months time?
Manager – Yes, I am happy to agree to that.
So there’s a powerful salary negotiation script you can use to your salary negotiations and get the salary you deserve.