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How To Ask For a Raise Without Quitting Your Job

How To Ask For a Raise Without Quitting Your Job

We have all been there.

 

You work hard and are making a success of your projects BUT you don’t seem to be getting the recognition you deserve. I’m not talking about a pat on the back OR the occasional “well done” here and there. I am talking about, the cash, the reddies, the money in your pocket at the end of the month. And I know we could all do with a little more of that at the moment.

 

For whatever reason, many of us find it hard to talk about money, the idea of asking for a pay rise can make you feel anxious. This is normal. It is important for you to understand that NOT asking for a pay rise will make you feel a lot worse! It does not need to be like this…there is another way!

 

A recent study in the United States estimated that women who regularly ask for a raise earn up to $1 million dollars more during their careers! We’ve seen it happen with Initi8 candidates. When people handed in their notice, their current employers offered an average of £10k per person to stay. It is clear that companies are willing to pay more for great talent and probably don’t want to lose you.

 

Bear in mind, there is some etiquette around asking for a pay rise. Here are 8 things to consider so you’ll know how to ask for a pay rise without pressing the exit button. 

 

1. Know your worth

Without actually applying for other jobs, you need to find out what you should be getting paid and that is pretty straight forwards:

  • Look at websites that have salary surveys like Glassdoor or LinkedIn.
  • Ask your friends in the same industry.
  • Look at adverts on sites like Jobsite or CW Jobs (beware that companies will always advertise the very top of a salary band).
  • I would also suggest speaking to a specialist agency who will give you a good idea of local salaries.

2. Be prepared

Understand WHY you should get a pay rise. It’s not because the gas prices have gone mental, but because of your input to your business. Make a list of the achievements that you have made and understand how much more value you are adding to the team and company since your last salary review. Having clear evidence will help you in your discussions.

 

3. Pre-prewarn your manager ?

“Be subtle, but not too subtle!"

A good way to do this (presuming you are connected on LinkedIn to your manager) is to update your LinkedIn profile – so a new picture, and update of your skills and experience. Also, a great thing to do is to connect to a couple of recruiters. Just by doing this, your manager will see your activity and if they are proactive this will spur them into action and initiate a conversation.  

 

4. Book a meeting

Timing is important here. If your business has won some great contracts or if someone else has left the business that might be a perfect time.? If the business has just lost their biggest client, ?perhaps leave it a couple of weeks for a more opportune moment.?But don’t leave it too long!

 

5. Warn your manager 

There is nothing people like less than surprises. Some managers can cope with them, but most will freak out and give you a knee-jerk reaction especially if they feel ambushed!  The solution is simple. Tell your manager why you want to see them.? You might say “I want to get some feedback on how I am doing, and I’d like to talk about my salary.”??  

 

6. Write a script?

Knowing exactly what you want to say in a clear confident way will increase your chances dramatically. You need to talk about your achievements, your team inputs and provide evidence as to why you should be paid more. I highly recommend practising and even recording your pitch so you can watch it back and see that it makes sense 

 

7. In the meeting

Don’t expect to get an instant decision. Normally it will not just be your manager making the decision. Your manager will usually have to get any sign off from their managers. You should Invite feedback from your manager and be prepared to hear both positives and negatives. 

When talking about why you should get an increase, be clear and realistic in your rationale and try not to get stressedIf your manager says “no pay rise” or offers a lower pay rise ask whyAbove all stay calm and understand that any negotiation requires some give and take so a pay rise might come with extra responsibility.   

 

8. Think about a future pay rise

If you do not get what you want, make sure you understand what you need to achieve to get the pay rise you wanted and agree on some timescales. If you get the raise and (let’s face it, you will!) you should understand what you need to do to be considered for a raise in the future and when you should review progress. By agreeing on this in advance both you and your manager will be on the same page, which is great for both of you. 

 

If all of this doesn’t work, your next option is to find a new job and quit. Don’t feel bad about it - you have done everything you can to stay. When you get a new job at the right salary and your current business meets your expectations in an effort to get you to stay, do yourself a favour and please don’t accept it!

Author

Stephen

Date

28 September 2022