Expert tips to help you get a payrise in 2022
You’ve thought about it and decided you really would like some more money.
Maybe that’s been prompted by the financially dismal January that so often follows the spending of Christmas. Or you’ve seen that loads of people are quitting, and are wondering how you can use this trend to your advantage.
Whatever the reason, you’re after a payrise. How can you ask for one – and be successful?
Mikaela Elliott, senior manager of employer insights at Indeed, shares her top tips…
Choose the right time
Have you just made a major mess-up, or heard your boss talking about stats being down for the month? Perhaps now isn’t the best time to bring up your salary.
If you’ve just absolutely smashed a project, taken on more responsibility, or seen real success, grab that golden window of opportunity with both hands.
‘Deciding when to negotiate your salary can be just as important as the conversation itself,’ say the team at Indeed.
‘For instance, good times to ask include after you’ve won a promotion or gained further qualifications, when you’re taking on a leadership role or when your experience level no longer matches your salary.
‘You could also use Indeed’s salary tool to find out if average salaries in your sector have increased; this information can help you ask for a more competitive salary.’
Identify clear reasons why you deserve a payrise
Sorry, but ‘I keep running out of money at the end of the month’ or ‘I have my eye on a big holiday at the end of the year’ won’t cut it.
Take some time to work out clear justifications for a salary increase. Write those down and get comfortable talking through them.
The Indeed team advise: ‘Rehearse your negotiation pitch beforehand so you feel as comfortable as possible going into the conversation.
‘Be ready to justify your case for meriting a better salary and consider rehearsing different scenarios and outcomes, such as rebuttals, questions or negotiation offers from your employer.’
Research the market
‘Research the market and calculate your individual value before going into any negotiation,’ say Indeed. ‘For example, if you have been with a company for a number of years, your experience will be valuable and your employer may be willing to compensate you for it.
‘When researching job vacancies similar to yours, check the required qualifications and experience are genuinely comparable to your own.’
Give it some time
If you get knocked back, don’t be afraid to go away, keep working hard, then bring up the conversation again at a later date.
Be ready to be flexible. Okay, so maybe your company won’t give you the exact amount of money you want… but could they offer you more holiday pay or better working hours, instead?
Consider what you really want, and if there’s a compromise that will make you happier in your job.
‘Not all employers will be able to match your salary expectations, but they may be able to offer other forms of compensation, such as additional holiday days or more flexible working,’ says Mikaela. ‘It is a good idea to weigh up the total package before making a final decision, as those extra days off may end up being more valuable to you than a little bit more money.’
Don’t be afraid to walk away
If you’re feeling undervalued, you’ve tried everything, and you’re still not getting what you need to be happy in your current role, it might be time to move on.
Mikaela says: ‘Often the best way of securing a raise is to switch jobs. In fact, research suggests workers can double their earnings growth by heading to pastures new.
‘So do not be afraid to walk away from pay negotiations if your employer’s offer does not fairly meet your expectations.’
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