10 Things To Consider When Asking For A Pay Rise

Is Now the Right Time to Ask for a Pay Rise?

Our founder Kate McCarthy-Booth was asked to join the BBC yesterday to discuss her opinion on whether or not you should ask for a pay rise in the current market.

Kates’s opinion is that you should really consider all aspects of your role and not just pay. You should think about how you feel with your current business and what your overall career aspirations are.

If you feel undervalued and are struggling to manage on your current salary or feel your current pay doesn’t reflect the role you do; here are a few top tips to help you have an initial conversation!

Kate’s Top Tips

1. Research your Role; Be careful to not just compare job titles as they can be misleading. You also need to look at the accountabilities and overall job market.

2. Reflect on what it is you really want from your job role; Is it just salary that is important to you or are there other things you may want. Value isn’t always just about pay.

3. Timing is everything; Think about when it would be best to approach your manager for a confidential chat.

4. Preparation is key; Take the Information that you have researched and have an open conversation with your employer.

5. Discuss what it is you would like to be doing in your role. Is there training you would like or is there a different role in the business you would like to be considered for?

6. Be careful – Don’t make the conversation an ultimatum; Be in the right frame of mind and be open to a collaborative discussion rather than making threats as this will not be helpful.

7. Consider it from your employer’s point of view; They may want to give you a pay rise but may not be able to due to the current market/ financial budget. Think about something else they may be able to offer you that will help your overall feeling.

8. Keep your conversation confidential and ask your employer to do the same.

9. Stress to your employer that you are not currently looking for a new job; simply explain the conversation is about you being open and honest with your current feelings and situation.

10. Good luck! Be open and considerate during your conversation. Explain that you enjoy working for your current business and respect your employer.

In Summary

No one likes talking about money; it often feels uncomfortable but it doesn’t have to be! The more preparation you do, the calmer you are and the more open you are to listening to your current employer – the better your conversation will be.

Kate has advised that she would much prefer an employee to approach her for a conversation if they were not happy, rather than look for a new job. She commented that you cannot always receive a pay rise if budgets don’t allow for it, however your employer may be able to offer training or other opportunities to further develop you. She also advised that having these conversations allow you to be completely honest with your employer and give them an opportunity to retain you in the business.