Most of us would dearly love some more money in our bank
account every month.
In fact, in a survey of US employees, one in three said they
would look for a new job if they didn’t get a pay increase in the
next 12 months, according to Glassdoor.com .
But pay rises are elusive and hard won. And, they're usually not
as generous as we'd like. Of the 35% of UK employees who are
expecting an increase in salary in the next 12 months, about half
expect it to be 2% or less, according to Glassdoor research. In
Australia, pay in 2015 is projected to grow by 1.65% on average,
according to recruitment consultancy firm Robert Walters. “Pay
rises exist, but they are modest,” said Kate Southam, a career
coach in Australia.
“Since the global financial crash, there has been a change to the
workplace regarding employment generally and pay specifically,”
said Simon North, a UK career expert with career consulting firm
Position Ignition. He points to organisations that are more
uncertain about the future, the fact that there have been
significant layoffs, and a bigger use of contract workers. “These
elements have made getting raises at work less common,” North
said. “Until recent months, wage increases have been between
zero and very low. It is starting to shift upwards, however.”
If you think you’ve been doing outstanding work and you deserve
better compensation, there are steps to take before you walk into
your boss’s office. Here’s how it works.
What it will take : Be prepared to talk about why you deserve a
raise, why you should get it now and how much you should
receive. And, timing is important. You should also research and
quantify how valuable you are to your company by looking at the
market. “Don’t wing it,” said Lindsey Pollak, a US workplace
expert and author of Becoming the Boss.
How long you need to prepare : Experts suggest preparing several
months before you ask. “Getting a raise starts six months before,
when you start standing out and adding extra value to your
organisation,” said Alan Kearns, a career coach in Canada and
founder of CareerJoy.com.
Do it now : Get your timing right . If your company is struggling or
reorganising, it’s probably not the right moment to make a play
for more cash. However, just ahead of your regular pay review,
when your supervisors are starting to think about compensation,
may be a good time. If there is no annual review, it will depend
on your individual situation. “For example, if someone within your
team leaves, you may take on more responsibility,” North said.
“The projects you are working on may have a higher profile and
be seen by the organisation to have greater visibility and value.”
That’s a good time to broach the topic.
Don’t use your colleague as a crowbar. Salaries are more transparent
than they used to be, and you might be aware that your colleague
with the same job title makes more money than you. That doesn’t
mean you should bring it up. Instead, refer to market rates for
your job description and experience in your city. “Quoting that
salary of a colleague as justification for your pay rise request?”
Southam said. “So, so, so bad for your career.”
Research geographically . But, use caution when comparing your job
with market rates, because salaries vary dramatically by location.
“Salary sites can be helpful, but it’s often very hard to pinpoint
by region or by company,” Pollak said. “Salaries in New York and
San Francisco [in the US] would be very different from other
places.” Local professional associations may provide information on
salary benchmarking. As a starting point, however, you can check
sites such as Salary.com in the US and Payscale.com and
Glassdoor.com for salaries in a variety of countries.
Make your case . You must make a business case to back your pitch.
“Where have you shown yourself to be of great value and a real
asset to the organisation?” North said. “Use as many objective
measures as possible. Show how your actions and initiative have
saved the business money and drawn in extra revenue.” Have
you taken on more duties since a colleague left? Did you lead the
team that landed that lucrative client? Be able to point to your
accomplishments and quantify them.
If possible, avoid complaining or using negative language. Times
may have been hard for everyone. Maybe no one has been given
a pay rise for three years. Stick to the good things you’ve done
to deserve more money — and leave any personal reasons or
negativity out of it.
Focus on the big picture. An improvement to your working life
doesn’t have to be about the money in your bank account. “What
about things like working from home?” Kearns said. “What about a
title change? What about being sponsored on courses? There are
all kinds of things you can negotiate that can actually have longer
term benefits for you.” If your organisation is strapped for cash
or you just don’t think more money is likely, consider asking for
more vacation time or a more flexible work schedule instead.
Don’t bully. Maybe you’re prepared to leave a job if you don’t get
more money, but there’s probably no utility in telling your boss
that. “Never announce it ahead of time,” Southam said. “No one
likes being threatened, including your manager.”
Be prepared for ‘No.’ If your boss turns you down, that doesn’t have
to be the end of your discussion. Ask if your boss would be willing
to reassess in six months. “And if I come back to you in six
months, what would I have to have accomplished in that time to
make you answer ‘yes?’” Pollak said.
Do it later: Keep building your brand . If you're not successful— or
even if you are — keep excelling. “Do great work, because if you
can’t get rewarded where you are, then you’re going to create
opportunities for you for other options,” Kearns said. “And when
you have other options, you have far more negotiating power.”
Do it smarter : Get yourself a mentor. One of the most helpful
resources for your future career is someone in your industry with
more experience than you. “This is usually not your boss, but
someone in your organisation, perhaps of a different generation,
a little bit older than you, who’s knows the ropes and who knows
what’s appropriate,” Pollak said. A mentor can help you determine
whether it’s a good time to bring up a pay rise — and how much
to go for. “That can be very valuable,” he said.

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