Updated: Aug 4, 2020
Do you want to make more money? If your goal is to stay in your current job you'll need to ask for a pay rise. Other than the yearly rises, occasional bonus or promotion, this is the only way to seek a rise in your pay.
Planning and preparation are key when you ask for a pay rise and I suggest you do the following:
1. Gather evidence of the value that you have added to the company... i.e. Have you improved processes, were they adopted, have you increased profitability, have you won new business, have you had great feedback from clients?
2. Become indispensable by sharing your knowledge and training junior members of the team to improve team performance and competencies.
3. Never miss a deadline and keep on top of your day-to-day responsibilities.
4. Identify your champions (line managers that will back you up), internal influencers and the decision-maker. Gather testimonials from your line manager and clients as proof that you are exceeding your KPIs.
5. Do some market research, establish what other companies in your sector are paying. Don't go in high - get a range... i.e. £40k - £44k. Find out what other companies are offering - extra days off, extra benefits, a company car...
6. Make sure that you've had so much positive impact on the business before you ask for a pay review meeting.
Lee Woodrow is a CV & LinkedIn Optimisation Specialist and helps contractors, senior job seekers & small business owners to land interviews and opportunities fast. He is an ex-military instructor, has 14 years of corporate experience, understands advanced sales techniques and is an Accredited CV Writer.