Is now the time to ask for a pay rise?
There’s no best time to ask for a pay rise. Instead, there’s only the time that makes sense to you. But, before you go marching into your manager’s office, we have some handy advice to help you succeed:
- Have your achievements and stats ready
Regardless of whether you are wanting to ask for a pay rise or not, you should always keep a record of the positive contributions you’re making to the company. From day one, we recommend setting up a spreadsheet where you can dump any projects, successes, and stats that showcase what you’ve achieved and how. That way, whether it’s a pay rise, a promotion, or a new direction you’ll have evidence of what you bring to the table.
- Know the industry standard & figure you want
It pays to be prepared. Don’t pick a figure out of the air, instead research what your peers are being paid both within your sector and in surrounding sectors. Look over their job descriptions and highlight what you currently do and maybe think about what other tasks you could take on to ensure you will receive either a pay rise or a promotion.
- Pick the right time to ask
Now we know we said there’s no right time to ask for a pay rise, but it is best practice to provide a warning to your manager that you’d like to chat about your position. This provides both of you with the chance to research salaries, think about how you’ve been performing, and most importantly not feel like an ambush. We suggest booking a sensible time so that both of you will have fewer distractions than say what you’re likely to have on a typical Monday morning or a Friday finish. Setting the tone will help both of you feel more comfortable in having the conversation.
- Be prepared for a no
As with all asks, you need to be prepared for an unsavory answer. There may be many reasons why you don’t get what you’ve asked for. Whatever the case may be, you should always prepare for a plan B. You need to think if you don’t get what you’ve asked for – then what does that mean you should do next? It may be that you need to wait a bit longer and ask again, it may be there’s a promotion with your name around the corner or it could be that it’s time to seek a new role. Whatever the reason, be prepared for all scenarios before you walk into that meeting.
And of course, remember a good company will be fair with pay rises but a great company will recognise your hard work and reward you without you needing to ask. Be sure to have a real think about your situation and don’t be afraid to see if the grass is greener elsewhere.
If you’re on the lookout for an exciting new role with a company whose values match your own – then look at our current jobs page as we work with loads of fantastic, value-driven organisations.