When is the best time to ask for a payrise
You are a career professional who is hitting mark, your Boss is obviously impressed and keeps heaping on the responsibilities. But does your salary match your contributions? If not, now is the time to use our tips to win a much-deserved pay rise.
Tip 1: Be Visible
Whist it’s true that we all work hard no matter who we are or what we do for work. There are some of us who are better than others at looking the part and therefore getting the credit for a job well done. Basically it comes down to attention to detail. Polish your star power by dressing immaculately every single day, network to be seen. Do not forget to remind your Boss of your achievements/contributions.
Tip 2: Know What You Are Worth
Use your research skills to research the market. Find out what you would be worth on the open market.
Tip 3: Be Strategic
Choose the right time to ask. The best time to ask for a pay rise is just after you have made a major win or just after you have either made or saved a lot of money for the company.
Tip 4: Be Prepared and Explain Why Your Deserve a Payrise
You know that you are a star but don’t expert your Boss to be keeping tabs on your achievements. Arrive at the wage review meeting with two well-bound folders, one for you and one for your Manager. Each folder should contain a report on why you deserve a payrise. Include in the report a summary of the specific contributions that you have made to the organisation. During the meeting emphasise each of these contributions and in particular how each have either made or saved money for the organisation.
Tip 5: Be sure that the cupboard is not bare
Just like Mother Hubbard could not feed her hungry children, your Boss cannot give you a pay rise unless s/he has the budget for it. Use your financial prowess to work out exactly where the money to pay for your pay rise will come from. If you realise that your employer cannot afford the pay increase then you need to assess your options. But either way your biggest problem should soon be what to spend the extra money on.
Don’t forget to log onto the blog tomorrow for a listing of the latest “hot jobs”