How to ask for a pay rise and what to do if you don't get one
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The end of the year is fast approaching and the start of 2020 is only around the corner. Companies generally hold their annual performance reviews at either the start of a new year or the beginning of the financial year. At KLC we are coming up to our annual performance review so it prompted me to think, how do you best approach these reviews and how would you ask for a pay rise.
It’s the dreaded conversation that can make the most confident of people feel awkward. In fact the whole ‘annual performance review’ kind of makes me feel sick because it is literally a forum to talk about your achievements (yay) and areas for improvement (eeek) with your manager and or director. The subject of salary is always a difficult topic whether you are starting a new role, been in a job for 6 months or 6 years. To ensure you’re adequately prepared, the best ways to approach this conversation would be as follows;
Do Your Research
Research your market value like you would a new car, a new bike or a phone. Research what similar jobs to yours are paying so you can set a realistic expectation for yourself and for your employer. Having a look at roles advertised on Seek.com can provide a good indication of what to expect. You also need to do research on what award you fall under and whether your ideal figure is within industry standards. This will in turn help you be realistic and not get your hopes up only to be let down.
Illustrate your reasons
When asking for a pay increase the goal is to convince your manager that you’re worth the higher salary. In your meeting use clear examples to demonstrate how you’ve delivered beyond what is expected of you. Highly particular instances where you’ve taken initiative, helped a colleague or tangibly contributed to business results. If you can show you are delivering more value than what’s expected of you, its easier to make a strong case. Make a list and be prepared before you sit down with management.
Listen and be gracious
Choose the right words and limit how much you say in your meeting. You don’t want to come across in a negative way, like you’re indicating underpayment, because this will come across as aggressive. Possibly start the conversation with “I’ve been thinking about my performance over the last year and how it might be reflected in my pay..” once you have presented the reasons why you think you deserve a pay increase, let your manager respond and listen and have an open mind. If your manager decides not to increase your salary, ask for feedback on how you can improve your performance over the next and try to take any constructive criticism on board.
What to do if you don’t get the pay rise you were after
If you aren’t successful in receiving the pay rise that you hoped for then possibly consider asking for a car allowance or funding for further training or perhaps a monthly RDO. These are all small things that might favour both parties without having to approve a high salary. Remember that if you aren’t successful now it doesn’t mean that you won’t be in the future. Continue to work hard and take on more responsibility and be a team player. Ask your manager if you can meet again in another 6 months and possibly have the same conversation again.
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