How to Get a Pay Rise
Clare Dight | The Times
Colleagues call you ace, you always look busy and the chief executive knows who you are thanks to some smart moves at the office Christmas party. But have you done enough to earn yourself a raise? Not on that evidence. Here’s what it really takes to make the perfect pitch and boost your pay packet:
1. The bottom line.
“You have to know why you think that you are worth that much – however much you’re asking for,” says Professor Binna Kandola, a senior partner at Pearn Kandola, a business psychology firm. Then ask yourself why you are worth that much to your boss. Addressing the issue from his or her perspective will allow you to formulate a more persuasive pitch.
2. Do your homework.
It’s important to understand what the salary norms are for the job role and industry that you are working in, says Jo Causon, director of marketing and corporate affairs at the Chartered Management Institute. This means comparing roles and activities, not job titles within the company, she says. “There’s no reason why you cannot ask your HR department ‘how is my role benchmarked?’ ”
3. Forget the other guy.
What the person sitting next to you earns is irrelevant, Causon says. “It’s about individual performance. About your competencies and experience in that job.”
4. Be honest with yourself.
“People often confuse effort with achievement and the two things are totally different,” Professor Kandola says. “You may have worked your socks off but you may not have achieved what was down in your objectives at the beginning of the year. A large part of your pay rise has to be on past record.”
5. Dress rehearsal time.
Play the conversation over in your mind and consider how you will respond if your manager says yes, no or maybe. Screaming or slamming the door should not be part of the script.