How To Negotiate A Salary Raise In 5 Steps

Being paid what you’re worth contributes to job satisfaction. However, workers struggle to negotiate a pay raise because of fear or self-doubt. Or because they approach their boss or manager the wrong way. A big mistake employees make when discussing a salary raise is not proving how their current pay does not match up to the value they bring to the company. If you struggle with bringing this up with your boss, here are some tips to help you out.

Know Your Worth

Do your homework first on how much you should be paid for your role. You can research salary trends and average market rates to compare them to your existing pay. You can also ask for guidance from recruitment consultants or industry people. Or look at similar jobs online for more information. Additionally, there are salary calculators online that you can use. Doing research can give you an idea of how much of a raise you deserve.

Build Your Case

In negotiating a pay rise, you must build a strong case of your value to the company. You have to position yourself as a valuable high performer that’s hard to replace. You can do this by highlighting your achievements and how these have benefited the company. If you’ve done any upskilling through completing training or requirements, you can point that out too. It’s also important to let your boss if you’ve brought a stellar performance every time. Keep a record of when you’ve gone beyond your KPIs as proof that you deserve a pay raise. Especially in these times, you can also include how you have adapted to a new way of working due to the pandemic.

Arrange For A Meeting

It would be best if you approached your boss the right way to ask for a pay raise. If possible, ask if you could have a face-to-face meeting with them. Just make sure that it’s safe to do so. If not, you and your boss can have a private video conference call. The important thing is that you can make eye contact. You’ll need it to establish a rapport with them and have open communication regarding the pay raise.

Practise Your Pitch

After building up your case on why you deserve a raise, you’ll want to practise how you present the discussion to your supervisor. A lot of workers might not find it an easy conversation. This is why preparing beforehand is critical. And that includes practising your pitch. Rehearse it with someone you trust. Ask them for feedback if it’s presenting you in the best possible light. You can also use the practice session to consider possible questions or objections your boss might raise and how you can respond to them professionally. 

Have A Backup Plan

Despite the preparations you might have made, there’s still a chance that your boss would say no. For instance, the boss would consider the current pandemic’s financial impact on the company and couldn’t afford to give a pay rise. In that case, you should understand the situation of a changing economic climate. If they can’t give you a raise at the moment, you can instead negotiate an alternative. Other options can be in regards to improving your performance, like internal training. Or additional benefits like more time off or a flexible work schedule.

Preparation and confidence are essential when asking for a pay raise. Be assertive but not aggressive, and don’t pressure your boss for an answer. Whether or not you get that raise or not, remain professional. However, if you feel like finding a new employer is a better option, get in touch with the best digital recruitment agencies in Sydney, Melbourne, Canberra, Adelaide and Brisbane by emailing office@redwolfrosch.com.au or calling 1300 544 652.