Want to ask your boss for a pay rise but don't know how? Here's everything you need to know.
Asking for a pay rise can have a huge pay off.
It's important to choose the right time to sit down with your boss.
Make sure to pull together some evidence.
Ask with confidence and politeness. Know your worth.
If just reading the headline makes you cringe, clenching your jaw and want to roll up into fetal position, then this article is for you my friend.
Because there aren’t enough people out there negotiating their pay with their bosses.
In fact, the Fair Work Commission found that only 42.6% of Aussies have negotiated their pay with their employers.
And while average wages have been going up, they’re not keeping pace with the rising cost of living - and most of us are finding it harder and harder to get by.
But the pay off can be HUGE. So we’ve got 5 tips to help you set yourself up for success to get that bag.
Sometimes, finding the right time is easy. It might be when you’re starting a new job and discussing your employment contract, or if you’re having a performance review meeting.
But sometimes, there isn’t space created for discussions on salary.
That’s when you want to schedule a talk in advance with your boss, and say you specifically want to talk about pay.
This gives them time to prepare too, and you’re more likely to have a productive conversation, rather that springing the conversation on them out of nowhere.
You should also think about your company’s current pay increase practices when you set up a time.
In Australia, the best time to talk pay rises is usually just before the end of the financial year, around April or May.
But it can be different depending on your workplace.
You’re asking for a pay rise, so you want to make sure you’ve got solid reasons as to why you deserve one.
This could include things like:
You want to give your boss clear reasons on why they can’t say no to a pay rise.
When you’re discussing your evidence, it’s also a good idea to bring up what you want to do next, and any aspirations you have for your future at the workplace.
This gives your boss an idea of ‘what’s in it for them’ as they can see your long term value to the organisation.
Start by doing some research on what a suitable salary for your role looks like.
Jump online and do some sleuthing by looking at job ads for roles similar to yours, and see what the salaries are.
Use this research to give you a guide on how much you want to be asking for.
In an ideal world, you go, “hey boss can I get a 10% raise,” and they say “yeah, no prob,” and you’re out the door before you know it.
But there’s a good chance that your discussion will go on for longer.
Your boss’s first offer is never going to be their best offer.
So your negotiation chat might involve a bit of back and forth. It might involve your boss trying to negotiate you down, offering you an alternative, or saying that they’ll discuss with their boss and come back to you later.
These conversations take time.
You want to be tough but fair. Think: Jon Snow-style - tough in battle, but fair in your judgments and actions.
Stand your ground, and expand on your reasons as to why you deserve a pay rise if you need to.
This ones huge. If you don’t sound sure of yourself, it’s hard for your boss to feel sure about giving you a pay rise too.
Show confidence, and know your worth.
But do it with politeness and professionalism
The organisation doesn’t want to lose you either. It’s pretty likely that replacing you will be a lot more work and a lot more money than giving you a pay rise.
This one’s ESPECIALLY IMPORTANT for women and those from minority backgrounds, as they’re less likely to ask for a pay rise, and less likely to receive.
This leaves them worse off in their earning potential, and that divide grows over the span of a career.
Which is why it’s so important to be confident, and know your worth going into these conversations.
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