Tips for asking your boss for a pay rise - plus way to know if you're underpaid
Asking your boss for a pay rise can be nerve-wracking - but being prepared and timing your meeting could help you get the result you’re after.
Almost three million workers on minimum wage will see their wages rise from this April. But latest figures showed regular pay excluding bonuses fell sharply from 7.3% to 6.6% on average in the three months to November.
If you believe you should be owed a pay rise, you may be wondering how to approach your employer. Paul O’Rourke, Operations Director at payroll firm New Millennia has shared five top tips to help you negotiate a higher salary.
Consider your timing
Make sure you plan your meeting carefully, and when your boss is not likely to be busy - this will then make them much more receptive to your suggestion of a pay rise.
Mr O'Rourke said: "If your company is taking on new clients and hiring for new employees, you can expect that there will be budget available for your request. Other appropriate times to broach the topic is at the start of a new financial year, or when you’re expecting a performance review."
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He added: "To increase your chance of success, request a meeting following a key project, or once you have ticked off a number of your assigned tasks, rather than in the middle of your workflow."
See how much other people in similar roles are paid
Do your research and make a note of salaries being paid to those working in a similar role to you. Mr O'Rourke said: "It’s also worth checking out new job postings to see what salary is being offered so that you can request a fair salary.
"Always pitch for a salary above what you’re looking for as you should expect your manager to negotiate rather than accept your initial offer."
Schedule a meeting with your manager in advance
Make sure you give your boss enough notice about wanting a meeting. This will give you both time to prepare for what you want to say. Mr O'Rourke said: "Similarly, you will need to consider the allocated time for your meeting. Allow yourself enough time to discuss everything you would like to raise.
"Consider your manager's preferences when arranging the meeting as online or in-person, and either in the morning or afternoon. If you already have a performance appraisal in the calendar, this would be an ideal time to broach the subject."
Practice what you want to say
This is especially important if you're feeling nervous about talking to your boss. Mr O'Rourke said: "Be clear about your salary expectations, your strengths and why you should be rewarded with this new pay grade. It helps to be specific about any key achievements, using data to back this up where possible. Use definitive language to reflect confidence.
"Summarise by inviting your manager to provide feedback on your proposal. Be prepared to go into further detail if they have any questions regarding the points you’ve raised."
Thank your manager for their time regardless of the outcome
Mr O'Rourke said it is important to thank your manager for taking the time to meet with you, regardless of whether they agreed to a pay rise or not. He added: "It’s best practice to thank them in the meeting as well as to send a follow-up email thanking them. The email should also contain points of discussion from your meeting and why you believe you are deserving of a pay rise.
"In the event your manager has not met your salary expectations, you should always ask why this is the case. It’s always useful to know whether this is due to budget constraints or something more directly related to your role."
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