Is This The Right Time To Ask For A Pay Rise?
The anxious wait when deciding whether or not to ask for a raise is often much more painful than the actual negotiation experience. The conversation can be played over time and time again in your head with varying degrees of success; putting these potential scenarios out of your mind is one of the first things you must do when preparing for the big talk. Rather than sweating over how badly the scenario could play out, assemble a list of reasons why your manager should consider a pay rise appropriate for you. This is not something you should jump into blind, with the hope of an improvised heart-felt appeal being enough to justify your rise. List the reasons and achievements which make a higher rate of salary justified for you. These should be memorised rather than relying on a notepad, as this will allow you to exude the confidence in your abilities and a recognition of your achievements, although it could be possible to print off the reasons as a last minute reminder or even a list designed only for your manager’s eyes. By presenting your manager with this list during your conversation they will be able to consult the list, making each point a tangible fact that they cannot argue with.
Before you go marching into the office demanding a higher salary, there are numerous things to consider, such as how long have you actually been working for this particular company? It is generally not advised to approach your boss for a raise if you have been in your new role for less than a year. Of course, there has to be a degree of flexibility to this, with mitigating circumstances, such as additional work being added to your schedule which was not included in your original contract. Your contract and pay will have been worked out to a set work schedule, if more work has been appearing without an form of recompense, do not be afraid to ask for appropriate compensation. A pay increase to account for additional duties should not take into account time with the company, meaning that the typical yearly wait for the pay rise conversation does not need to be taken into consideration.
If your role has not altered in anyway, it can come across as quite impatient and entitled to ask for a pay rise when only in the role for a short amount of time. Many companies use a yearly marker to review employee contracts, but even if your employer does not, it is generally advised to wait until this amount of time has passed.
Although you may feel that you have been performing your role with competency and are continually achieving set targets, you should question whether you are exceeding the expectations of your position or whether you are merely meeting the targets expected of you. Deciding where the line should be drawn between these points is an important consideration before approaching your superiors. It could seriously harm your prospects if you attempt to oversell what you have been achieving in your current position.
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This is a guest post by James Jones on behalf of Champion Accountants. Champion is a North West based agency with accountancy offices in Chester, Manchester, Blackpool, Preston and Southport.