Issue 44 - Negotiating A Pay Rise Thumbnail

Negotiating A Pay Rise

Securing a pay rise depends on identifying your contribution to the company and building a solid case. The following useful tips can help you prepare for that sometimes awkward and daunting yet very necessary conversation! 

  • Know your contributions:
    • Firstly, it is not only important to know your value but to also understand what your boss values.
    • It goes without saying that you are probably not going to get the salary you want if you have not made valuable contributions to your organisation according to your boss’ standards. Therefore, you must talk about your performance and how it is related to the company’s success.
    • This is a good time to brain storm specific achievements you have made and how they have added value to the business, e.g. what projects you have contributed to, what KPI’s you have met and exceeded, how you have gone above and beyond your Position Description.
    • Benchmark your contributions against other industry professionals. Speak with trusted recruiters and review online job boards to assess market salary conditions and compare them with your contributions to your organisation.
  • Be clear about your expectations:
    • Why is the extra bit of salary so important to you? What are you hoping to achieve? What is your end goal?
    • It is also important to understand industry conditions and company performance overall within the industry. This will give you a good indication of how your expectations match with reality.
  • Practice:
    • Know what you want to say! Have an outline of how you want your meeting to go. Don’t be afraid to take in a list of key points you want to bring up. Sometimes when you are on the spot, it is easy to forget important information. Having a guide will help you stay on track.
  • Timing in everything:
    • If your company does not have a set time of year when they review your pay, raising your salary during a performance review is a good way to start.
    • Ask your boss in advance if you can have a discussion about your salary and book in a specific day and time. This will also give your boss time to prepare and think about your contributions.
  • Be open to negotiate:
    • What are you willing to accept and not accept?
    • Think about a way you could compromise if things don’t go according to your plan. You could always try negotiating hours, flexibility, bonuses, benefits or annual leave!
    • Remember, if you do not get exactly what you want, you do not have to decide there and then whether to accept. Have some time to think about it, sleep on it and go from there!

Always finish the conversation with a word of gratitude for your employer, the team and the greater organisation.

This article was written by Nadine Vaughan, Recruitment Manager at Curtis Partnership.

Bookmark and Share

Selection of Our Clients

Tannant Leasing Group
CI Australia
Hartigan Bolt
Boost Juice
Crown Group
Wilson Parking