Asking for a pay rise can be quite daunting. An incredible 57% of people don’t ask, and close to 45% of those who ask to get the amount they want, with only 25% of those who ask don’t get a raise at all. So, what is the best approach to the subject?

Confidence will always be key. If you have the technical knowhow and problem-solving skills to succeed. But your income doesn’t reflect the market. The best advise I can give to you is not to approach your employer with any of the following:

  • My colleague is on X, its not fair im on less.
  • My friend makes Y, I want a raise.
  • I can’t afford to live anymore on this salary, I need more money.

This type of request would make up 75% of requests to employers. In some cases, your job right now might not have the stretch to achieve the salary you want. Wage inflation is a major concern for businesses and does come into effect when considering pay rises.

Here are my top tips on how to approach a salary increase in your job today:

Try to take charge of your income where possible. Instead of demanding a salary increase. Approach your employer with one of the below:

  • I love working here and love to contribute 100% when I am working. I feel the company is really benefiting from my contributions, do you agree, or is there anything I need to work on?
  • I am currently earning x, and I would love to get to y. Can you help achieve this goal?

Instead of demanding, you are setting out a goal. In no uncertain terms you are also highlighting your worth to the business today. You are not putting down an ultimatum like the above requests. You are pointing out your strengths.

Here are my top tips to highlight your strengths when looking for a salary increase.

Start by researching comparable jobs, just so you have it clear in your mind what the market values your skillset at. Also consider that if you do leave, you have to be replaced. What is that likely to cost your employer. Weigh all this up before you approach the subject.

  1. Gather data to express your true value.

Using resources such as PayScale, Glassdoor or indeed salary tool, Facebook groups can also be useful to find out the average market rate of comparable positions and your own market rate based on education and experience.

 

  1. Ask yourself, what’s an acceptable salary for me right now?

Once you determined the lowest salary you would accept. This will become the bedrock of your negotiation to your current employer. But also, perspective employers. Always aim a little higher to negotiate if needed. For example, if you feel after doing some research your skillset is worth €90,000, let’s say you are currently earning €80,000. Aim for closer to €100,000 – €110,000.

Using percentages can also be an effective way to approach the topic. For example, say something like: “I see myself earning at least 20% more next year, can you help me reach this goal”.

  1. Timing is everything, know when to ask.

If you find yourself taking on more responsibility but have not been given a title change or salary increase to go with that. That’s a perfect time to present the case. Here are a few more scenarios but remember your role might be unique.

  • If your work colleague has decided to move on and you have been asked to consume some of the workload.
  • The company has just won a large new project, and you will play a pivotal role in implementing the new requirements for the customer.
  • Structural change of some kind. Moving team for example, in a positive way.

The key to the above, is based on positive change to your role. If you find yourself struggling at all requesting a pay increase is not advised. If you dislike a team member or simple will only stay for money. Its time to look for a new role. For me, life is simply too short.

Becoming indispensable to the business will always be key to getting to your financial targets. Remember to keep the target realistic to the market.

Elwood Roberts is a professional Recruitment business that also offers professional development programs. So, if you are looking for help, please do reach out here.

Of course, not everyone gets what they want. If you feel the time is right to move on. Please do check out our latest jobs here.