Many of us feel we ought to be being paid more, but few of us do anything about it. Sitting around and waiting for a pay raise rarely gets results – by taking the initiative to ask for a salary increase, you’re much more likely to convince an employer that you’re worth it. Here are just a few tips for helping you to get a pay raise.
Do your research
Before you ask for a pay raise, it’s worth doing your research into what other companies pay their employees for the same role. A lot of us think we’re being underpaid, but it could be a case that you’re actually being paid the average rate for your role. If it turns out that you are being underpaid compared to other workers in your trade, this could be something to bring up when you go to negotiate a pay raise.
You can also ask colleagues what they’re earning, however this may not always be productive. Most employers like to discourage employees discussing wages – so trying to arguing that other colleagues are being paid more than you may not go down well. Besides, you could find that some colleagues lie about their wage.
Find ways to prove your worth
It’s much easier to ask for a pay raise if you have proof of your value as an employer. You could consider furthering your education via a course such as this one at MIT online. Alternatively, you could learn a new skill within the company or take a new responsibility. By showing commitment to the job and going beyond the call of duty, you will show that you are a valuable employee.
Ask at the right time
Ideally, you want to catch your employer at a good time when they are not too stressed dealing with other business concerns. This will ensure that they are able to give you their full attention and that they will not automatically dismiss you. You could ask to schedule a meeting with your boss. If you have a performance review coming up, you could even wait until then.
Plan what you need to say
Asking for a pay raise can be nerve-wracking, so may want to plan a speech. It is best to get straight to the crux of the matter – tell your employer that you have enjoyed working for them, but that you have noticed other companies pay more. Emphasize the fact that you’d like to continue working at this job, but that you feel you’d like to earn more. Take this chance to then highlight any achievements that you think warrant a pay raise. This should be enough for you employer to seriously consider the proposition.
Don’t expect an instant answer
An employer may not give an instant answer – they may want to think about it and come back to you. If this is the case, be prepared to spend the next few hours – or possibly even days – proving yourself. If your employer seems to forget about it, you may want to arrange another meeting to remind them. You’ll likely get an answer within a week. Fingers crossed, it’s a ‘yes’.