Get a higher salary
Asking your employer for a pay rise
The most important thing in salary negotiations is to shine a light on your value to the company. Your goal should be that both parties are happy.
A pay rise must also be in the best interest of the employer. You can argue that a higher salary will result in increased efforts. If the company’s revenues are good, you can argue that that you should have your share because of your efforts.
- Knowing your own market value is very important. You must know the salary levels in the industry as well as what salary you can get elsewhere.
- Choose your moment for salary negotiations:The time of negotiation is important. Try to get the salary negotiations started right after you have had a good period at work, when you have received increased responsibilities or when the boss wants you on new projects.
- A usual argument from managers is that they do not have more money to spend. This isn’t always the case. Even if the salary budget is spent, the boss can always negotiate with his boss to get a bigger budget. If you can’t get anywhere, try to negotiate other benefits like education, bonuses, extra leave, mobile phone, a car or a laptop.
- When asked what salary you want, go a little on the high side. Stay within the ballpark but set the expectations high. This way you leave yourself room for negotiations.
- Don’t threaten to quit if you don’t get a pay rise unless that is your intention. You run the risk of having to live up to your threat.
- Avoid talking about your economy. It’s not your employer’s problem that you have bought a new car.
- If the negotiations get stuck, finish and ask for another time to meet.
- If you cannot get a pay rise you just have to accept that. You can then choose to stay and supplement you income with other income streams like the ones mentioned on this website. Or you can look around for a new job.
An example
My husband got a pay rise recently. He knew that his boss was very impressed with his work of late, and relied heavliy on him. He also knew that his responsibilities had gone way beyond that he was originally intended to do. This was totally his own effort. As with most companies, he could take on more responsibility within the department on entirely his own initiative.
During this great run and increased efforts, he sent an email to his boss asking for an appointment to discuss his salary. He stated in his email that it was time to renegotiate his salary package as he had taken on increased responsibilities and had proven his worth to the company (he had only worked there for 6 months). When they had the meeting, the boss instantly gave him a pay rise. No discussion necessary as he was so impressed with his work.
In my last job, I also managed to secure two pay rises within one year with this strategy. The great thing about it is that everyone wins. The employer gets a really motivated worker and you get more money!
Take charge of your own financial freedom – you don’t have to rely on just your employer to earn more money!