It is always best to approach any discussion about a salary increase with care and planning, you need to be sure of what you hoping to achieve by the outcome so as not to leave an unfavourable impression with any managers.
At PDM Recruitment we have put together some tips for you to implement a tried and tested strategy to help you get you the pay rise you deserve.
Research and understand your market value
To be able to negotiate properly you must first research your industry, online salary checkers are a useful guide. But for a more accurate reflection of your current market value try asking someone close to you in the same profession, sector or organisation how much they are currently paid, of course only do this if they are comfortable with divulging such information in the first place. They may even tell you if and when there are seeking to ask for a pay increase in their next personal review, so you can perhaps time yours around the same time. Also research if the industry or sector that you are in is expanding or in decline, this will help you to better judge if there is the financial backing for you to ask for a pay increase.
Know what your objectives are
People who usually ask for a pay increase do so if their life goals and ambitions are changing. Perhaps you have been working within your sector for many years and now see the role you do as being more valuable to the company, so you are asking yourself where your salary fits within the whole career curve. Have you recently been promoted? It is always important for to have an idea behind the reasons and motivations for asking for more, before the negotiations start. Can you put off or wait for any increase? If not, then why? Always be aware that the company will have its own processes in place before any salary increase is implemented, so it will add time onto you seeking what you wish for.
Put your case across effectively and succinctly
In order to present your case, you need to find out who holds the decision making power and who has the influence to affect change your way. Once you have their attention you can begin to build your case. Start by highlighting certain projects where you have been successful and demonstrated your ability to add value to the business, at all times offer quantifiable data to enhance your case. If you have any previous work referrals or recommendations then make them aware of these.
Be prepared for the subsequent discussions and negotiations
Preparation here is key to a successful outcome so you need to be ready at this point. Have an idea of what you truly feel you are worth as well as what your limits are. For example, just how flexible will you be or will you allow for? Would you be willing to compromise or accept some other reward stimulus? What offers will you not accept?
Never rush into any offers without serious consideration
We would always suggest that depending on the situation and its importance, always take the time to think carefully about the offer and how it will affect you. Any rushed decision could see you further down the line regretting your hast, by giving up any bargaining tools you may need in order to renegotiate in the future. If they do ask you how long you need to reflect on any subsequent offer, tell them that you will think about it and will let them know the following day. The people who you have entered into negotiations with will understand and will appreciate just how important this decision is for you and will not mind waiting for your response, also by making them wait for your response, this will keep you in control of the situation.
Being able to negotiate a wage rise properly is an important skill throughout your working life. Following these simple steps will hopefully help you to create a positive long lasting impression with those in the decision making process who will have the most influence over the decision, which hopefully will go your way.