Four Smart Tips For Getting Paid What You’re Worth
This post was contributed by Sarah Jane who just successfully asked for a raise and is eager to share her wisdom with others.
One of the trickiest subjects for women in the workplace is asking for a pay increase. Sometimes you can be ripe for development and worth a lot more than you are currently being paid, but like anything in life there are clear do’s and don’ts when it comes to talking up an increase in your salary. Depending on your approach, you could find yourself flying or floundering. Getting up the increased confidence to ask for more money is a hurdle that lots of us face, as well as understanding how to make your approach for the best chance of success.
Why Do You Deserve A Raise?
There aren’t many of us who don’t feel a little overworked and underpaid – and working mothers more so than most. However, when you’re thinking about going into the appraisal and coming out with your request, you need to play devil’s advocate first. You won’t be convincing if your argument is purely based on emotion and your own feelings – you need cold,hard data and examples at your fingertips. Revisit the role profile for what you do. How much of your work over the past year has been over and above that description?If you can give specific examples, you have a much more convincing case. Think about any additional qualifications you’ve undertaken as well – from soft skills courses on time management to a finance MBA online degree program – all make you more valuable to your employer.
Show The Numbers
Wherever possible, try to quantify the difference you’ve made. This means translating the impact of your work into figures – an easier task now that we have so much data at our fingertips. Think through the metrics which could be traced back to your role – numbers of registrations for an event perhaps, or a certain number of new clients attracted (and their value to the company). This provides a clear estimation of your value and positions your ask as a natural conclusion from your contribution. Sometimes there are roles which don’t translate as easily into numbers, so in those cases, think outside the box on projects that you can present that have helped save your team money, introduced new ideas, or changed processes or the working culture.
Understand Your Worth
So much of successfully asking for a pay rise comes back to doing your homework. Check some of your competitor organisations and job sites on the internet to find comparable positions to your own and their rates of pay.That will let you see roughly where you’re positioned according to an average for your industry. Similarly, if you are part of a professional body or trade organisation, they often publish an annual report containing salary data which can be enormously useful. There is also the route of comparing your own pay to a peer within the company – but be aware that salary data on an individual level is confidential, so even if a close colleague tells you what they’re earning, you may not be able to use that information to negotiate and could perhaps even get into trouble for knowing.
Choose Your Moment
Timing is everything when it comes to a request on a pay rise. First thing on a Monday morning or last thing on a Friday are definite no no’s, as your boss is likely to be preoccupied and may say no by default. Think about the busy periods in your workplace and try to avoid those, so there is more headspace for your request to be considered. Never ambush your boss with a sudden demand either – you can use the yearly review and appraisal process to bring up the subject, or if it’s a long time away or you don’t have a formal process, ask for a meeting to review your progress and come prepared.
