How to ask for a pay rise
The reality is that asking for a pay rise is a necessary step for anyone who wants to maximise their worth and achieve their financial goals. It shows your employer that you work hard at the contributions you make to the organisation, are committed to your job, and want to be compensated for your efforts.
So why is it so difficult to ask for a pay rise? Some people just simply don’t know how to best approach it. From preparing your case to having a contingency plan, we can help you navigate this tricky step in your career.
Being able to ask for a pay rise is more important than ever
Learn how to ask for a pay rise
Learn how to ask for a pay rise from the experts at Hays in this online video. Discover practical tips and advice to further your career in Australia today.
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Your six-point plan to prepare for a pay rise request.
1. Prepare your reasoning
It’s not enough to simply point to the increased cost of living. Instead, you need to ensure you have specific and quantifiable evidence to present when asking for a salary increase.
Start by considering what you’ve achieved since your last pay increase that warrants a raise today? Prepare a list of recent achievements that exceed your current set objectives. It may help to look back at your last performance review or your original job description. Then list any changed or increased work volumes or duties you’re now undertaking and extra projects you’ve been involved in.
For each accomplishment, align it with how it benefitted the organisation. The aim is to provide strong evidence to justify a pay rise, so focus on outcomes. For example, perhaps you have brought in 22 per cent more business year-on-year, are managing a 25 per cent increase in the overall volume of work or were involved in a project that exceeded objectives.
Be proud of your work and include examples of achievements that you are particularly proud of. This could include a major milestone you achieved, successful teamwork, or a process improvement that has long-term benefits.
Whatever evidence you gather, remember to demonstrate the greater value you now bring to your employer.
2. Research comparable salaries
Next, research the salary you feel your performance and results are worth by reviewing recent salary guides. This allows you to back up your request with evidence from the current market and demonstrate that the salary you are asking for is in line with your market value.
Our Hays Salary Checker is a quick and easy tool that helps you understand typical salaries and your potential earnings based on your job title and location.
3. Set a meeting and keep calm
4. This is a two-way conversation
Coming to the meeting with high expectations of big increases could put your manager on the back foot. You want a positive reaction from your manager when asking for a pay rise, so present your reasons, and then actively listen to their feedback.
You will have your own points you want to get across but be mindful that this is a conversation, and your manager may have valuable feedback for you that can be used to work towards more success in the future.