How to Negotiate a Pay Rise

With the cost of living continuing to rise, many of us are feeling the pinch. One of the ways to relieve this pinch is with a pay rise. While many companies have introduced cost of living wage rises, it may still be possible for you to negotiate an increase. Perhaps you have been working in your role for a while without an increase in salary. Alternatively, you may have taken on additional responsibilities within the company without compensation.

But, how exactly do you go about this and what can make negotiating a pay rise more successful?

There are three things which should always be considered when you are attempting to negotiate a pay rise:

Be reasonable
Let’s face it, we would all love to receive massive pay rises and substantial bonuses, but it isn’t always likely. Being reasonable in your expectations when it comes to requesting a pay rise can mean that your employer is more likely to negotiate with you. Most people who are successful in negotiating pay rises will receive between 10% and 20% increase although you should always check what the average is within your industry.

Make your case clear

It is essential for you to make sure that your employer knows exactly what you are asking for and why you feel that you deserve it. Make a case which explains what you bring to the company and how you feel that your requested pay rise will reflect this. Being vague will make it seem as though you haven’t really given it much thought and can mean that your request is more likely to be turned down.

Do your research
How much are other people being paid in similar roles? What is the average salary for someone with your level of experience? What are other companies of a similar size offering to their employees?

These are all questions which should be answered before you approach your employer for a pay rise. If you can present a case which shows that other, similar companies are paying their employees more for the same level of expertise, then you are more likely to be successful.

Understand that negotiations are a process
When you negotiate, it is uncommon for your first request to be accepted. Your employer may come back with a counter offer. This may be lower than you had hoped. Be prepared to lower your initial request in order to meet your employer somewhere in the middle with a deal which is beneficial for everyone.