UK workers' pay is up by nearly 2% and is the biggest rise since the financial crash, cites the Office for National Statistics in their findings as at the year ending April 2015 (source theguardian.com ). What raise in salary are you expecting? Are you ready to ask for a pay rise? Do you think you will you get what you deserve? How do you intend to broach the subject with your boss?
Stop feeling jittery. Let's work together to try and get this working for you.
Before you visit his/her office and say what you want, let’s have a look at a few of the things that you should keep in mind.
Generally, salary appraisals occur only once a year. However, it is to a great extent determined by the demand of the employees in the area that you currently work in, how profitable your company (and/ or department) is and the market rate dictated by supply and demand. Fields like technology, compliance and risk are currently in high demand in London. Employees lucky enough to be employed in these sectors can expect hikes of once or even twice a year (we know it's 2016, but there are some sectors that have had salary freezes maintained for the past 5 years, one bank in Canary Wharf comes to mind with this policy!)
To get that increase, do what you do best, your job! We know a hard worker is appreciated by all, not just by colleagues, but by your client(s) and of course the management team. Be a star performer, engage with everyone at work, be a pleasure to work with by having a smile on your face and being of a happy nature, come in early leave late, finish more work than necessary (sometimes ask for more work or offer to help others with their work load where you can see they are struggling), help others that are at your level or junior, even management need help, be a shoulder to lean on in times of difficulty, and this will help you to develop a strong case that you deserve a pay rise. Try not to be undiplomatic or get on the wrong side of people, especially management. We hate politics but sadly it is a part of working life, so try and ensure you do not annoy people unnecessarily by taking personal calls at your desk, or having too many conversations with your colleagues during work time or taking excessive or long breaks or coming late or taking sick leave (when not sick) just because you have a yearly sick leave entitlement!
Are you suitably qualified for your job? Do you need that qualification or does it make you stand out? Use those letters after your name in any salary negotiation, you may be the only person with that designation in your team or department, or you may need to become a subject matter expert as there is currently no knowledge in that area. Could you save the company money on fees paid to external consultants such as accountants, tax, legal advisors? Have you saved money for your company, or can you see yourself saving the company money using your unique knowledge, make sure you let your manager know about it and work out how much you saved (or could save) with your advice.
Timing is everything, this will surely decide whether you should expect a raise or not. Research and find out when pay rises are generally approved by the company (find out when budgets are finalised by the board, regardless of if your boss wants to increase your salary, if the budget is fixed then you have less or no opportunity to negotiate if there is no leeway in the budget)? Do raises occur in the beginning of the year, or just before or after the tax year begins in April?
You could also just randomly approach your manager and ask regarding your salary. But before doing so, please ensure you have spent enough time on the job. If you just joined a month or two ago and want to talk about a pay rise, you are being unrealistic, wait at least 6-9 months then start thinking about it!
Corinne Mills, managing director at Personal Career Management, advises to choose a time when there is nothing urgent that could take priority. For example a client visit, an important pitch to a new or existing client, finalising accounts at month or quarter end, or any regulatory inspections or internal/ external audits all are not the right time to be enquiring about salary.
Dress properly, not only for the time you want to get a raise, but throughout the year. Bosses generally evaluate their employees on the basis of their talent and commitment, but appearance contributes in a big way too! Mills advises to portray a good image and look professional throughout your employment. We advise to shower daily to look and remain fresh, wear freshly laundered and pressed clothes, and avoid wearing the same outfit twice in a week.
Unfortunately, if the answer somehow comes out to be a no, do not be disheartened. Explore the alternatives on offer that are non financial. Ask your boss if you could work from home on a regular basis to help you save commuting costs and time. Alternatively you could ask for additional training in a field that interests you, or to support you in learning (or augmenting your knowledge) in a foreign language. These are all things that will stand you in good stead for the future (be it with the same employer or a new employer down the line). We hope you liked this article, and please like or share this with your friends, and remember to follow us across social media.