Negotiating a Pay Rise: Here Are Our Top Tips

Once you’ve been in job for a while, or if you feel you’ve performed especially well, you might decide to ask for a pay rise. Even you deserve it, your employer isn’t going to agree straight away and just bump your salary up. You’re going to have to negotiate it. These are our top tips to help you get a ‘Yes’ on that higher salary you’re requesting.

Know your value

Research the market and speak to people in your company, the same sector or similar roles to understand how much you’re worth. Negotiating a raise is all about your value. That’s the bottom line, so you need to know how much your worth. Despite the time and effort it may involve, you could consider getting another offer. Not only does it give you an idea of what the market is like, but it also provides a benchmark of your worth — and you can use it as leverage in your negotiations.

Time it right

If you ask for a pay rise at the wrong time, your employer won’t appreciate the extra work you’re creating for them. Time your request to coincide with a time when your employer would be reviewing salaries. If they don’t have a specific time for this, an appraisal would also be an appropriate time to put forward your request.

Build and present your case

Gather evidence of your skills and record any significant events or results. Include things such as important projects and how you work with other teams and key people. You’ll then need to present your case. Highlight successful projects you’ve been involved in and go through your track record of achieving significant results. Mention any other areas of your work history that illustrate how you add value for your employer.

Get ready to negotiate

It would be terrific if your employer agrees right off the bat — but they won’t, so be ready to negotiate. Think about how flexible you’re willing to be and know how much you’re worth. Decide what you will and won’t accept. Consider possible compromises and solutions — there might be a trade-off that could suit both parties. Don’t expect your employer to pay the same as another company does, though. They’re not likely to, but they may be willing to create a suitable remuneration package.

Take your time

You don’t have to accept the first offer your employer makes. You can ask for time to think things over. Don’t keep them hanging endlessly on tenterhooks, however. It’s a negotiation, not a game, and their patience could wear thin. Take a day or so to reflect on the offer before you refuse or accept it.

Whatever you decide, you’ll need to close the offer. Thank your employer for their time and for listening to them. If an offer’s not quite what you want but is close to it, that’s the time to decide whether you’ll be happy or not at the company. If you won’t be, it’ll be time to move on to pastures new. If, however, you will be, stay and let it be business as usual (but with a higher salary to enjoy).

By Peter Jenkins