Tag Archives: salary increase

What to do now to ensure your next pay rise

Article by Belinda Fuller

What to do now to ensure your next pay riseHappy new year. Welcome back. Hope you enjoyed a nice break. Wait, what? How is it March already? Have you thought about your 2017 pay rise yet? Maybe you just completed a whole review process and the mere thought of going through it again is too exhausting to even consider. However, in order to ensure the outcome you deserve, planning early and establishing a few simple strategies will lay the groundwork for success down the track.

Simply thinking you deserve a pay rise and maybe even asking for, or suggesting it outright might not be enough to get what you are after. To ensure success, you should take some time to build a strong case that demonstrates why you deserve it. Laying the ground work and preparing throughout the year can help you achieve a successful outcome once the time comes to broach the subject. Alternatively, if you’re under-prepared, the experience can be awkward and ineffective.

Your strategy for achieving a pay rise should focus on providing proof of why you deserve it.

Step 1 – Define success. Have a conversation with your manager or supervisor early in the year to discuss what success means to them. For some people’s roles, especially those that don’t have quotas or defined KPIs, success is sometimes subjective. Sitting down and defining what you need to achieve over the next year is a great first step. Write this down and gain agreement from your manager – a quick email confirming the conversation you had is all that’s required.

Step 2 – Record your accomplishments. Continually striving for excellence in your role is the best way to achieve success. But don’t forget to maintain an up-to-date record of achievements as they happen throughout the year – this should include formal performance evaluations, customer thank you or commendation letters and awards, as well as details of all your major and minor wins and successes. Casual comments from colleagues, superiors and customers could be included, as well as details of new systems or processes you implemented or initiated, and tangible victories such as productivity improvements, new customer wins, revenue and/or profit gains.

Step 3 – Know your market value. Do some research to find out what people in a similar role to you earn. Knowing what you’re worth in the outside market is the best way to demonstrate your value to your employer. Make sure to reference your sources and perhaps have examples of recent job ads to prove what you’re saying is true.

Step 4 – Plan your approach. Review your accomplishments before preparing an outline of the conversation you’d like to have with your manager. It’s a great idea to practise what you’re going to say but don’t be afraid to take notes with you, so you remember to cover off all the important points without becoming flustered.

Step 5 – Maintain professionalism. Have the information on hand in order to answer questions and delve into more detail if necessary. Try to relax and present a confident, businesslike approach (preparation will help here). Respond to your manager’s questions and comments in as much detail as required. Acknowledge positive feedback and try not to disagree with any negative feedback – instead use this as an opportunity to gain input into what you could have done better. After presenting your facts, ask for your pay rise outright. State what you feel you deserve based on your achievements and successes. It’s often a better idea to state a range – saying ‘I think I’m worth X’ doesn’t carry as much weight as ‘my recent research indicates that someone in my position typically earns between X and Y’. You could also mention that you’d like to be in the upper end of that range.

Step 6 – Accept the outcome. Accepting the outcome with positivity and grace regardless of the result is important. If your request is rejected, make sure to ask for specific feedback on how you can prepare for a more successful outcome next time, and possibly get agreement on a review time that is sooner than 12 months.

Asking for a pay rise can be a difficult subject for many people to broach, however preparation will ensure the best possible outcome. This shouldn’t be a one off or irregular event either – take some time to regularly review and assess your career status and progress against your goals every 12-18 months.

Would you like help developing a career strategy that puts you on the right trajectory for success? If so, please see our Career Guidance and Career Coaching Services.

6 Things to Consider When Requesting a Pay Rise

Article by Belinda Fuller

6 Things to Consider When Requesting a Pay RiseThinking you deserve a pay rise and maybe even asking for one outright, might not be enough to achieve the outcome you are after. To ensure success, you will need to build a strong case that demonstrates to your manager why you deserve a pay rise – with proof that showcases your success and supports your case.

This process should ideally be ongoing right throughout your career, with your strategy relying on the development of a strong case demonstrating why you deserve it. Here are some simple steps to follow:

Step 1 – Understand your company process – the most appropriate time to have a pay rise conversation is during a formal one-on-one performance review or your annual appraisal. However, pay review processes differ from organisation to organisation and some don’t follow a formal process at all. If your company doesn’t hold regular reviews/appraisals, you should ask for an opportunity to present your case. Don’t ambush your manager though – simply tell them you’d like to have a meeting to discuss your performance and success moving forward – so there are no surprises for them – and they have the opportunity to prepare as well.

Step 2 – Get your timing right – when asking for a raise, this is important. If you’ve only recently started in the role, or the company is going through a bad patch, now is not going to be a great time to request a raise. Even if you’ve been over-performing in the role, if you haven’t been there long, you might raise suspicions about your long-term commitment by asking too soon. As a rule of thumb, if you have been in your role for at least six to 12 months, and have performed over and above what’s expected, then it may be an appropriate time to ask.

Step 3 – Record successes – continually strive for excellence in your work and maintain a file of your achievements. This should include formal performance evaluations, customer thank you or commendation letters and awards, as well as details of other minor wins. Casual comments from colleagues, superiors and customers can also be included, as well as details of new systems or processes you implemented or initiated, and tangible successes and achievements such as productivity improvements, new customer wins, revenue and/or profit gains. 

Step 4 – Develop a strategy – review your success file before developing a strong business case for presentation to your manager. Your case should detail achievements and showcase skills that are important for moving up the ladder – such as leadership, company knowledge, teamwork, and innovation. Research current salary trends in your market so you know what a fair target is; and it’s a good idea to practice what you’re going to say. Write a brief script and always quantify your achievements. Don’t be afraid to take notes with you so you can reference specific details without getting flustered.

Step 5 – Maintain professionalism – make sure you have all the information you need on hand to answer questions and delve into more detail if required. Relax and present your case in a confident, businesslike way. Respond to your manager’s questions and comments in as much detail as necessary. Acknowledge positive feedback and try not to disagree with negative feedback – instead use this as an opportunity to gain input into what you may have done better. After presenting your facts, ask for your pay rise outright. State what you feel you deserve based on your achievements and successes.

Step 6 – Accept the outcome but ask for more information – if your request is rejected, you should take the opportunity to request specific feedback on areas that are lacking. You should accept the decision with a positive attitude regardless of the result, however don’t be afraid to ask for an explanation as to how you can prepare for a possible future pay rise. This can sometimes be difficult to hear, but having your manager explain what you need to do in the future to achieve the pay rise you are after will hopefully help you succeed further down the track.

Asking for a pay rise is difficult for some, however preparation and a professional approach will ensure the best outcome. It is also important to treat it as a regular event – we suggest reviewing your career status and progress against your goals and aspirations ideally every 12-18 months.

Are you constantly listening, learning and planning? Would you like career advice to better understand what you should be doing to plan for the future? If so, please see our range of Career Counselling Services.

How to Approach Your Manager for a Promotion or Pay Rise

Article by Belinda Fuller

How to Approach Your Manager for a Promotion or Pay RiseThis process is ideally an ongoing process right throughout your career. The strategy for achieving a new title or pay rise relies largely on you building a strong case to demonstrate why you deserve it. This case needs proof – which means you need a strategy. The best time to raise the conversation is during a formal one-on-one performance review or during your annual appraisal. However, if your company doesn’t hold regular reviews/appraisals, you should ask for an opportunity to present your case.

Here some simple steps to follow: 

Step 1 – Record Your Successes – continually strive for excellence and the achievement of goals in your role; then maintain an ongoing and up to date file of your work achievements. This should include formal performance evaluations, customer thank you or commendation letters and awards, but could also include details of other minor wins along the way. Casual comments from colleagues, superiors and customers could be included, as well as details of new systems or processes you implemented or initiated, and tangible successes and achievements such as productivity improvements, new customer wins, revenue and/or profit gains.

Step 2 – Develop Your Strategy – review your success file before developing a proposal or business case to present to your manager. Your proposal should detail your achievements and showcase skills like leadership, company knowledge, teamwork, and innovation. Research current market trends in terms of salary so you know what a fair reward for your efforts is. It’s also a good idea to practice what you’re actually going to say – write a brief script and always try to quantify your achievements where possible. Don’t be afraid to bring notes to your meeting so you can reference specifics without getting flustered.

Step 3 – Maintain a Professional Approach – have the information on hand in order to answer questions and delve into more detail if you’re asked. Try to relax and present a confident, businesslike approach (preparation will help here). Respond to your manager’s questions and comments in as much detail as necessary. Acknowledge positive feedback and try not to disagree with any negative feedback – instead use this as an opportunity to gain input into what you could have done better. After presenting your facts, ask for your pay rise or promotion outright. State what you feel you deserve based on your achievements and successes.

Step 4 – Accept the Outcome – with a positive attitude regardless of result. If your request is rejected, take the opportunity to ask for feedback on areas that are lacking and specifics on how you can prepare for a possible future pay rise or promotion.

The subjects of promotions and/or pay rises can be difficult for many people to broach, however preparation and a professional approach will ensure the best possible outcome. This shouldn’t be a one off or irregular event though – review your career status and progress against goals on a regular basis and ideally take some time to assess where you’re at and where you’d like to be every 12-18 months.

Would you like help developing a career strategy that puts you on the right trajectory for success? If so, please click here to view our Career Guidance and Coaching Services.

Negotiating Your Next Salary Increase

Article by Belinda Fuller

For many people, asking for a salary increase can be difficult, especially in these turbulent times, however with a bit of preparation you’ll be well on your way to success. Here’s my tips:

1. PLAN

Planning is key and requires forward thinking throughout the year. Take some time to build your evidence. Think creatively here – it’s not just about the everyday. Meeting targets and KPIs is not ‘value add’. You need to put yourself in your boss’ shoes for a minute and consider what’s going to be of most value to them. 

It does help if you have tangible achievements, however it’s not always necessary. Think about projects you’ve contributed to, collaboration with other team members, extra tasks or responsibilities you’ve taken on, new processes you’ve initiated, customer accolades received or major deadlines met. Think about things you did that made you feel proud. In your day to day work, try to go above and beyond what’s expected of you some of the time. And remember to keep notes and records of all your achievements, savings, accolades and commendations.

2. PREPARE

Understand the process within your organisation and be prepared. Policies around performance reviews and salary increases vary from organisation to organisation. Many are closely aligned and others are not. Some employers give salary increases to those who ask and others have a very formal process to review everyone’s salary within a specific timeframe. There are also factors outside of your control that may impact on whether or not you receive an increase. They include things like current economic stability, competitor influences and how well the business has performed.

You should also look at the strength of the market and research how difficult (or easy) you would be to replace. Think about your unique skills and abilities that might make you irreplaceable. Ascertain what your value is on the open market by researching job sites and salary surveys, asking industry associations, talking with recruitment consultants or friends in similar roles.

Combine this information with your record of achievements and contributions and if need be prepare a written document. Organise to meet with your boss and, if possible, try to do so at a time that coincides with the completion of a big project or another positive situation.

3. PITCH

The last and all important stage. Again, put yourself in your boss’ shoes and ask yourself “Why do I deserve a salary increase?”. Have a clear idea of what you’re looking for and ask for it – remember your evidence and keep it clear and succinct. Don’t expect too much, don’t plead and don’t become confrontational. Also, make sure it’s the right time – manage your boss’ emotions and don’t try to do this if he/she is stressed or under pressure. You can have the best plan in the world, but if you try to impact your boss when they’re not receptive, you will fail.

Remember to be open minded – there are rewards other than money such as training, education, representation on a major project, increased responsibilities that will expose you to new skills (and make you more marketable), flexible work conditions, improved equipment, or if all else fails, try to agree another review/discussion in three months time. Good Luck!

For career advice and interview coaching on how to negotiate your remuneration package in job interviews, please see our Interview Training services.