How Do You Ask For A Pay Rise?
New statistics from The Higher Education Careers Services Unit (HECSU) have shown that female graduates are earning thousands of pounds less in their first job compared to males.
Further research has shown that women perceive their skills and ability as less than men who over-estimate themselves. This leads to men being far more likely to negotiate their pay than women. Facebook COO Sheryl Sandberg outlines the differences in her new book ‘Lean In’.
The research shows that us ladies, whether recently graduated or looking for a pay rise in a current position, need to assert ourselves and not be afraid of asking for more. For recent graduates, don’t be afraid to negotiate your salary before you start. If you can show that you have the skills and experience in order to do the kob well, better than other candidates then there’s no reason for the potential employer not to consider it. Showcase your assets so that your employer feels lucky to have you and show how you will be ready to learn- that way they’ll be more likely to be prepared to pay more!
For those of you who have been at your workplace for a bit longer remember that timing is key. It’s always best to arrange a review meeting with your boss beforehand and mention your intentions. Time it well, perhaps just after you’ve had a particularly successful few months and when your boss has some free time. A last minute meeting when they are rushed off their feet with other meetings will seem rushed and not very well thought through. You want to state your case in the best possible circumstances, so taking a little time to wait for the right moment will be worth it in the long run.
Organise your thoughts.
Create an action plan and be ready to have some solid reasons as to why you deserve the pay rise. Think from their point of view, instead of explaining why you need the money, alter their perspective. You will be able to do your job more effectively and make the company more profits as a result. Convince them that your skills and services are worth more than you are being paid. This will make your offer hard to refuse if it’s all explained thoroughly with great examples to further back up your plea!
Do your homework.
Have a look into competitor companies and how much they’re paying someone for the same job as you. This can further strengthen your argument so make sure you use any research you have found to your advantage.
Be respectful.
Your wording and explanations will need to be thought through too. Sounding greedy or desperate will not be persuasive. Ensure you re-iterate your dedication and commitment to the company, your role and the team. Stating that you’ll go elsewhere will only show them that you aren’t devoted to the company- a quality they will find extremely important.
If you are turned down…
Stay humble and learn from the experience. Stay gracious and use it as an opportunity to learn for the future and ask what more you can be doing in order to qualify for a pay rise. Once a few qualities or benchmarks are outlined perhaps ask for a timeline or set out a plan of action over the next 12-18 months and schedule more review meetings along the way. Showing an enthusiasm to learn and grow for the future will show your boss that you are serious about your work. And now that you have some specific targets to aim for, the next review meeting may have just the outcome you desired!
Asking for a pay rise doesn’t need to be a daunting task. As long as you plan carefully in advance, do your research and state your case persuasively, your boss will give you a fair chance and consider your offer. Showing enthusiasm, willingness to learn and commitment to your role and the company will be attributed that help you on your way to the pay rise you so rightly deserve!
