How to get a pay rise

If you have been in your current position at work for a while it is not unusual for the question of how to get a pay rise to come up. Some companies complete pay reviews on annual basis, typically taking place at the end or start of a year, with a pay increase following shortly after. Employee pay reviews can be at many different times of the year and be subject to a whole host of methods to determine whether a pay increase is going to happen or not.

Some jobs have annual bonuses, some jobs have no bonuses at all. Some people have overtime pay and jobs such as sales for example would often include a basic salary and commission, but whatever type of pay structure you are on, what we are talking about here is an overall increase in your salary / pay.

There are typically two factors at work here one is the companies ability to be in a position to pay an increase, this is typically determined by how well the company is doing, how the market is performing what the future outlook is like among other factors. From an employees perspective rising bills, costs, loans, family situations and items that need to be purchased are all reasons why people want to earn more money. Everybody's situation is different whether you are at the start of your career, in the middle or heading towards the end of your working career. If you are single or in a relationship, your financial earnings and pay structure elements are always going to be important.

Employers realise that in order to motivate and retain key staff, pay increases are often necessary, it is probably not a good idea for a business to continue to grow year-on-year in terms of its revenues and profits and yet its people / employees not to benefit from this. If you need to ask your boss / line manager for a pay rise there are a few factors that you may want to consider that may help the sometimes difficult conversation to go a little better.

When to ask

It can be a challenge to find the right moment or the right opportunity to discuss a pay increase and this can differ within companies but here's a few tips that may help. The first thing might sound obvious but it is always better to have a one-on-one conversation, face-to-face where you can fully explain why the pay rise is warranted and you can have an open and honest discussion to put forward your thoughts.  Ideally you are having this conversation when things are going well, a particular project has happened successfully or a particular task has been delivered as per the company plan or requirements. It is probably not a good idea to ask that a pay rise is delivered at a time of major challenges or problems for the company / the line manager. If there is a particular pressing issue you may need to pick a more opportune time. Having said that things cannot wait indefinitely and having a face-to-face Conversation is the best way to establish the possibilities of a pay increase.

Send a message

Surprising your employer that you want a pay increase may not be ideal. An approach that may help here to get you that all-important pay rise can include dropping a few clues and hints that you want to talk about something important. This can help set the context of the meeting and outline that this isn't just a regular meeting or discussion.  Here you want to simply, without raising an alarm (and certainly not raising any threats) outline that a discussion about an important topic is required and that you'd like this to be facilitated as soon as it is feasible to do this.  There are often many reasons why a pay increase is required, for some people it is the amount of effort they feel they are putting in over and above the job description. Their salary may not reflect their experience and contribution or in other cases your pay is out of line with industry salary norms. Many employees take on additional responsibilities in today's workplace and this that can lead to longer hours and working around the clock, with more and more work being completed at home as well as the office or place of work. The employee may be delivering many important accomplishments and doing far more than the job they were initially hired to do.

Be realistic and optimistic

Going into a meeting or discussion about a pay increase with unrealistic expectations can often be counter-productive. Doing a little bit of research in terms of what equivalent pay for the role you are doing in the marketplace can be of help. Being able to demonstrate your key achievements can also help you. Remember you do not need a full list of individual achievements and you already have the job! However do be specific where possible, and polite and professional at all times. Outline the major reasons for the pay increase request. Asking for someone to double your pay may not be realistic if other pay increases in the company are running in single digit percentages!

Things to avoid

It is always best not to try to use the threat of resignation. In some cases companies have been known to simply accept the resignation and wish the employee all the best in their new job. Even if you're an absolute superstar in your current company, it would no doubt continue if you did actually leave your employment with them. Remember no one is completely indispensable. A real job offer on the table from another company that is offering more salary / benefits or better working conditions are all genuine reasons to warrant a discussion with your existing employer, if you ideally would like to stay working with them, but do make sure that this is positioned correctly and is not delivered in a threatening way.

Your personal situation

If you are under financial strain or if you have a set of unusual circumstances and a pay increase is a really important factor for you,  it is important to remember that those problems and challenges may not necessarily be the responsibility of your current employer. Sometimes the best way to get a pay increase is to actually change job or company. It is known to be one of the fastest ways to get paid more money. In a lot of cases an employer that wants to retain a key employee will often strive to deliver a solution that may work for the employee. Sometimes this works really well and sometimes this just isn't possible. It can depend on each company and each situation.

What are your choices?

If you don't get that all-important pay increase there really is no point in feeling hard done by, however people can feel was unrewarded and unappreciated. If a person is underpaid in comparison to the market rate or their collegues for the role they are performing in, this can be demoralising. In difficult economic times people may have chosen to stay with an employer as it may have offered a certain level of security in more turbulent times. However as certain job sectors continue to improve and with the amount of new jobs that are announced every week continuing to increase, this may no longer be the case.  A lot of businesses are growing again, some industries at a very fast pace. This leads to other employers looking to hire new people to come and join their expanding companies.

You may decide that it is time for you to try something new and to take on a change of career. This may be a purely financial reason or the pay situation may be only one of the factors. On the other hand you may decide that the best course of action is to except that your approach for a pay increase was simply not successful this time, however with continued commitment and a new approach you may see a better outcome in time with your current employer.

Time after time there are surveys that say that money is not the only motivator in people's decisions to leave a company.  In a lot of cases it can be the manager and  other reason as to why a lot of people choose to change company or job.  Pay is always a factor, as ultimately it pays the rent or the mortgage, the shopping bills and if you're lucky it leaves are little bit at the end of the month to do something nice! A lot of people can find that there is too much month left over as their income runs out part way through a month. Although they may like working for their current employer an increase in salary is a real factor for them. Other people may be in a very good financial position but can still feel undervalued in their current position.

Other helpful pay rise tips

Think about what have you done to deserve that pay rise? Is it justified? Be prepared to answer the question why do you deserve a pay rise? People who seek more money but are ultimately not happy in their current company will end up leaving the employer anyway.

Consider all the factors and not just the pay rise.

How much are you looking for in a pay rise? Everyone would like more money, but is it realistic for the job you are doing?

A harder question to ask is probably one of the more important ones. What could you be doing better? What areas do you need to improve in? Really consider the answers here before scheduling that pay review discussion.

Be able to demonstrate why you deserve that pay rise. Real examples that convey why a pay rise is required can help the discussion. Do not exaggerate anything and be friendly and factual at all times.

Consider what you have done that shows how you have gone over an above in your current position. Do not simply focus on what you have delivered or achieved in the past, consider what you will also be contributing / delivering on in the future.

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A post by Aisling Turner, Merrion Recruitment Ltd 'Recruitment the Right Way'

www.MerrionRecruitment.com