Thinking about asking for a salary raise and not sure where to start/ too daunting?
This is one of the areas we get asked about most and how to get started. Believe it or not the fear of rejection and how this will impact us (if declined) is often more scary than the prospect of positioning this with your direct manager.
What you perhaps have not considered is that the raised heart rate, sweaty palms and shallow breathing you are now experiencing (whilst considering how to tackle this, will very likely be simultaneously experienced by your Manager, when they are faced with your request (regardless of experience).
What to avoid at all costs?
- Taking your Manager off guard
- Demanding a pay increase, with an ultimatum/ threat of moving to a competitor
- Going direct to your Manager’s one up, thinking this is where the decision will be made and undermining them in this process
- Asking for an increase based on your personal circumstances
- Not providing your request with factual evidence for consideration
- Avoid “fluffiness” and subjectivity
- Making this an emotive or subjective discussion
- Failure to follow up in writing, with objective facts
How to get started?
- Review your PD and your key achievements
- Understand and reflect on why you believe this is the time to receive a salary increase and the overall performance of the business.
- Are you being realistic, is the business performing well and will they be able to agree to this?
- Gather facts and figures that support your achievements and how you have over achieved and delivered to the business
- Review your market value – there are a number of online tools to support you benchmarking your salary eg: https://www.payscale.com/research/NZ/Country=New_Zealand/Salary
- Reach out to a seasoned recruitment agency in Auckland who can provide some advice around the market and your value
- Reflect on what it will mean in the eventuality that your desired increase is not achieved and how you will deal with this?
- Assess your intrinsic motivation to commit to the time period ahead in the business and consider options that your employer could agree to, over and above salary?
- Ask a trusted person (outside of your business) to review your plan and run through with you, to ensure this is objective and well articulated.
- Practice and prepare for the conversation and how this may go/ how you will react if this does not go as planned.
- Do not expect an immediate decision
How to reassure your employer & set yourself up for success?
-Position the discussion with your manager in advance and book a meeting – timing is everything and be clear with no surprises
-Be prepared with facts and objective value rather than subjectivity
-Provide clear details of your expectations
-Reinforce your rationale and ensure to articulate that it is not a threat but about recognising your value and reinforcing your loyalty
-Provide time for your manager to consider your request
What to do/ Management if this is declined?
-Consider what this means and why they have declined or provided an offer lower than expected?
-Probe into what might need to be achieved for your request to be considered and by what timeframe.
-Explore other options presented that may assist to achieve your financial objective eg: access to a personal coach, exposure to specific projects or areas for growth, further study or courses to attend.
-Accept that the decision is non-emotive and always purely commercial.
-Whatever you do – do not allow this to negatively impact your performance in your role. Take pro-active measures for your next steps by seeking external job seeking support (from a trusted recruitment professional), revisiting plan for growth and if necessary understanding that your motivation may not be purely financial and perhaps it’s time for a new challenge?
Remember: Confidence in self and your delivery is key. if you do not believe in yourself worth then you cannot expect others to believe in you.
“Take a chance. It’s the best way to test yourself. Have fun and push boundaries.” – Richard Branson
