How to Secure Your Pay Rise

It’s estimated that around 50% of employees have never asked for a pay rise – and it’s not difficult to understand why. That conversation with your boss, the person who controls your wages, can often be an intimidating one.

However, there’s no logical reason why this should be the case. After all, no-one ever got fired after asking for more cash.

You have nothing to lose by requesting a higher salary from your employer – and here’s how you can help secure it:

How much do you want?

When you start that conversation with your employer requesting additional funds, it’s important you have a specific figure in mind.

Your request must be reasonable and in-line with what someone of your experience (and job title) should receive. To identify this, consider using a service such as PayScale.

Plucking a figure straight out of thin air – one which is just not suitable – will greatly diminish your chances of acquiring that pay rise.

Pick a good time

You’ll probably be unable to increase your salary if you’re reasonably new to the job. Assuming you try, several months after you begin, the reasons must be excellent. For example, the job you’ve been hired to do has completely changed and now includes additional responsibilities.

Otherwise, there’s a lot to be said for organising a meeting with your boss at the right time. If you request more money after the company has made several redundancies – for example – that’s a bad time.

If you are due to exceed quarterly goals though (as well as the company), consider setting up a meeting just after the deadline. Chances are, your employer will be in a better mood.

Make your argument

The first question your boss may ask will probably be “why should we give you a pay rise?”. It’s important you have an answer to this question.

At the end of the day, a pay rise is not a favour; It is a contract for services rendered. What you ask must reflect, and justify, your work within the company. Make your argument as to why you deserve that pay rise and you’ll have a higher chance than someone who heads into that meeting blind.

If refused, put a plan in place

Although you have nothing to lose by asking for more money, there’s every possibility your request will be denied. In this situation, it’s important you don’t give up.

For example, you can ask what would ensure a salary increase and work towards that goal. Furthermore, there are alternatives to receiving a pay rise. In the absence of money, you could request additional holiday, flexible working, work from home, or any number of perks.

Regardless, you’ll have objectives to aim for. If you hit these, you’ll be able to make a better argument for a salary increase next time you ask.

Refused a pay rise? Perhaps we could help

Usually, we ask for pay rises because we need the money – not because we’re greedy. If you’re after extra funds to repay creditors, but have been denied, we might have a better idea. Let us help restore control with an IVA.

This debt solution freezes interest and charges while ultimately writing off large parts of what you owe.

Even better, it also stops creditor contact.

Your boss might have refused your pay rise but – if you qualify – you’re unlikely to be refused by us:

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