How to Negotiate a Pay Rise – What to Do and What Not to Do

Negotiating a pay rise can be a pretty daunting task, but it’s an important part of career growth and financial well-being. After all – don’t ask, don’t get! We’ve guided many professionals through this process, and we’ve learned what works and what doesn’t. Here’s a guide on how to negotiate a pay rise effectively, including what not to do.

Prepare Thoroughly

Don’t just waltz in and throw out a random figure! Preparation shows that you are serious about your request and that you have a solid foundation for your argument. Start by researching salary benchmarks to know the industry standard for your role. Websites like Glassdoor, Payscale, and industry-specific salary surveys can provide valuable insights. List your accomplishments, highlighting how you have added value to the company, this is why it’s so important to keep track of your accomplishments within a role, a simple list like this is gold dust when negotiating or updating your CV. Use specific metrics and examples. Understanding your value and how your skills, experience, and contributions compare to others in similar roles is crucial.

Practising your pitch ensures you can present your case confidently and clearly. Role-play with a friend or mentor to get comfortable with your talking points. Be clear and concise, sticking to the facts and directly stating your desired salary and the justification for it. Keeping the conversation positive and focusing on your contributions and future with the company will also help.

Being prepared for various responses allows you to handle the conversation gracefully and professionally. Consider what you will do if your request is denied. Are there other benefits you could negotiate, such as additional vacation days or flexible working hours? Ask for constructive feedback if your request is not granted and set a timeline for revisiting the conversation.

Choose the Right Time

Timing your request correctly can significantly increase your chances of success. Consider the company’s financial health and request a raise during a period of strong financial performance. Align your request with regular performance review periods or after successfully completing a significant project or exceeding your targets.

How to Negotiate a Pay Rise – The Dos and Don’ts

Do:

• Research Thoroughly: Know the industry standard for your role and list your accomplishments.
• Choose the Right Time: Request a raise during periods of strong financial performance or after major achievements.
• Practise Your Pitch: Role-play your negotiation and be clear and concise in your request.
• Be Prepared for Different Outcomes: Have a plan B and seek feedback if your request is denied.

Don’t:

• Rely on Personal Needs: Focus on professional justifications rather than personal financial issues.
• Blindside Your Boss: Schedule a formal meeting and avoid bringing up the topic in passing.
• Make Threats or Ultimatums: Avoid saying you will leave if your demands are not met and don’t compare yourself to colleagues.
• Take Rejection Personally: Stay calm and composed, even if the answer is not what you hoped for.

What Not to Do

Avoid relying on personal needs to justify your request. Employers are more inclined to respond to professional justifications rather than personal financial issues. Stick to professional reasons that justify your request. Additionally, catching your manager off guard can lead to a negative reaction and less productive discussion. Schedule a formal meeting and avoid bringing up the topic in passing or during unrelated meetings.

Making threats or ultimatums can damage your professional relationship and lead to negative consequences. Avoid saying you will leave the company if your demands are not met and don’t compare yourself to colleagues. Taking rejection personally can also harm your professional relationship and morale. Stay calm and composed, even if the answer is not what you hoped for, and use the feedback to improve and set new goals for your next negotiation attempt.

Conclusion

Negotiating a pay rise is a skill that requires preparation, confidence, and a strategic approach. By focusing on your professional achievements, choosing the right time, and practising your pitch, you can increase your chances of a successful outcome. Remember, it’s about demonstrating your value to the company and aligning your request with their goals and needs. For tailored advice, just drop us a line.