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How to ask for a pay rise

How to ask for a pay rise
4Jun2019

If you feel like your remuneration package does not reflect the responsibilities and duties of the position, you’re not the only one! Not knowing how to approach the situation is equally as common. Keep reading to find our helpful tips for negotiating a salary increase or pay rise.

How to ask for a pay rise

 

You seem to have the perfect job: the people are great; the location is convenient; and the hours suit your lifestyle. So why are you checking the online job ads? If you feel like your renumeration package does not reflect the responsibilities and duties of the position, you’re not the only one! Not knowing how to approach the situation is equally as common.

We often undermine ourselves and do not recognise the value we bring to our workplace. Having self-doubt can make asking for a pay rise a daunting experience, sometimes we don’t even know where to start. If these feelings are all-to-familiar, keep reading to find our helpful tips for negotiating a salary increase or pay rise. Squash those nerves about asking for more money!  
 

Research:

Get your pad and your pen, it’s time to study up! The government’s Fair Work Ombudsman website is a great place to start. Check out www.fairwork.gov.au for information and calculators to help you work out what you should be earning. Scope the popular job-seeker sites for similar roles to compare average salaries. Consider skill levels, experience and tertiary qualifications.

When is it appropriate to ask for a pay rise?

  • Before an anniversary of employment or during the company’s scheduled performance and salary reviews
  • When you can justify the duties and responsibilities in your role have expanded
  • After an announcement of positive financial results

With these details in mind, it’s time to prepare your approach. The first thing to consider is timing, for example are you coming up for an employment anniversary?

Secondly, it’s important to go into the meeting with a clear idea of what needs to be covered. Manage your conversation by structuring it into three parts;

Part 1: Prepare

Ensure you:

  • Reserve a 30-minute slot in your managers diary – don’t wait until your manager sits down with his coffee to ask if he has a quick five minutes to discuss your pay
  • Be clear about wanting a review of your salary and your expectations
  • Be confident but reasonable, you want to be taken seriously
Part 2: Action
During the conversation with your manager:
  • Thank the manager for their time and let them know how much you enjoy the job
  • Advise how long you have been in the role and highlight your achievements over the past 12 months
  • Summarise your key responsibilities and tasks
  • Demonstrate your value and worth
Part 3: Follow – Up
Don’t be alarmed if you are not provided with an answer during the meeting, be patient and allow them to get back to you. After the meeting:
  • Email to thank them again
  • Reiterate your key points
  • Book a calendar appointment for any follow-up meetings.

If your request is successful, congratulations! Before you celebrate, make sure to get confirmation of the increase and commencement date in writing. 

If your request is declined, keep calm and ask them to agree on some clear objectives. You can then work towards these and ask to review your performance at an agreed date.

Know what you are asking for. The more prepared you feel going into the meeting, the less nervous you will be. Keep the discussion professional and to the point. This way, you’ll be giving yourself the best opportunity to succeed.

Whilst we’re on the topic of income, it’s important to remember that your ability to work and earn is your most valuable asset. Say you got the pay rise, what would you do if all of a sudden you lost your ability to work? Perhaps an injury or illness that is out of your control? Income protection means that you can continue with your current lifestyle without worrying about your finances. Speak to our financial planner to protect what your earnings!
 
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