Feeling that you’re going the extra mile at work but that it’s not reflected in your salary? If you want your pay package to match the effort that you’re putting in at the office, don’t just wait until your company offers you a raise – you might be waiting a long time. If you want something in life, you have to ask for it – go to your manager, demonstrate your value to the business and explain why you deserve a better pay package. But how do you go about that? Read on for Saro Recruitment’s guide to negotiating a salary increase!
Get in the Zone
So what if you know that negotiating a salary increase is perfectly acceptable, but just don’t feel comfortable doing it? For a lot of people, asking for a pay rise is completely out of their comfort zone, even if they feel that they deserve one. The best way to negotiate a raise is to be prepared and to practice. Do your research, put together a business case, back up your claims with hard data, and be prepared for some awkward silences. Then, when you approach your manager, you will have all the information that you need at your fingertips.
Research the Market
Before you ask for a raise, you need to know what your value is compared to the job market, so that you don’t aim too low (or even too high). Have a salary range in mind that you would be happy with, in case your employer offers a lower amount than what you requested. If you know someone who is doing the same job as you, find out what they are being paid or what they are planning to ask for in their next pay review. There are also some excellent salary checker websites that you can try. Or ask a recruiter for advice – our consultants at Saro Recruitment will be happy to help!
Put a Case Together
It’s not enough to just ask for a raise – you need a business case that demonstrates why you deserve a pay increase. Be prepared to show how you are going above and beyond your current pay grade. Cast your mind back on your career with the company. What were your biggest achievements? Did you work on some major projects, saved the company money, bagged some new clients or built up a great relationship with customers? Make a note of your accomplishments so that they don’t slip your mind when you are requesting your raise.
Gather Hard Data
Now that you’ve listed your achievements, it’s time to back up these claims with cold, hard data. If you saved the company money by implementing a new workflow, how much did you save them? What are the Key Performance Indicators (KPIs) for your position, and how are you performing against them? Are you going above and beyond with your Service Level Agreements? Are there any co-workers that will give you a recommendation? For every achievement, project or client that you bring up, make sure to have a measurable number to back it up.
Be Prepared for a Negotiation
You’ve done your homework, put together a cracking business case, and requested a raise. And then your manager comes back to you with a lower offer. What now? The saying ‘He who speaks first, loses’ is key to any negotiation. Don’t feel pressured into accepting the first offer – just say that you will think about it. Then sleep on it. Whatever the answer, you always have the option to compromise, or ask for an addition to your current pay package, like share options or private health insurance.
Be Happy Where You Are, or Move On
If you’ve been offered what you were looking for, congratulations! But maybe you were offered something lower than you expected, or they turned your request down entirely. Whatever happens, thank them for their time and consideration. But if you haven’t been given what you were hoping for, you may want to start looking elsewhere – after all, your company is unlikely to pay you more than a new company will.
So if you’re ready to look around for another job, get in touch with Saro Recruitment and make sure that you are paid what you are worth!
17 September 2018