As I was browsing LinkedIn this week, I have found some really interesting articles that my connections have shared.
One article which caught my eye was from a recruitment agency who have posted a link to a Marie Claire piece: “Make 2015 The Year You Muster Up The Courage To Ask For A Pay Rise. This Is How You Do It...”
This is a scary thought and one which many women fail to do. We often sell ourselves short and don’t promote ourselves enough in the work place. This is made clear in this article by The Guardian where research indicates that female bosses earn 35% less than their male counterparts.
So with the New Year upon us and time to start afresh it is important to set realistic goals. Therefore, instead of looking for a new job to increase your salary perhaps follow these tips to ask for a pay rise. This is especially important if you enjoy your job but it is only the salary which is holding you back.
- Choose your moment. It is important not to surprise your boss. Instead book a specific meeting time and perhaps try to coincide it with an appraisal. You can then have time to prepare with realistic arguments and be confident in your delivery.
- Do your research. Find out what current market trends are. Maybe ask a trusted colleague or look at online job boards/specialist salary benchmarking sites for role comparison.
- Show your worth. In the meeting pull together and highlight your personal strengths. Showcase projects and initiatives you have successfully implemented and if relevant revenue figures or measurable results. Don’t fall into the trap of complaining about why you have been overlooked. Stay professional and positive.
- Negotiate well. They key is to remember ZOPA (the zone of possible agreement). You will need to negotiate with your boss to find the middle ground you are both comfortable with for the possible new salary. Before the meeting think about your ideal and realistic salary figure. Then work out the lower range. A strong tactic would be to let your boss go first. They show their hand and so you know there could be a zone of possible agreement slightly above this figure.
- Money isn’t everything. There are other benefits that could be negotiated as well. If the salary increase isn’t possible perhaps re negotiate for a bonus. Also think about a car allowance, more flexibility in your working hours, travel season ticket loans or perhaps subsidised gym membership if appropriate.
These are some excellent and easily followed tips.
Be brave this year, re-evaluate and have a go.