5 tips for asking for a pay raise – 01/24/2023 – Market

If you feel like your salary is below what it should be, you’re probably not alone.

In several parts of the world, wages have lagged behind the rise in the cost of living.

Increasing wages is a step envisaged by many, even more so in this context. While there’s no guarantee that a conversation with your boss will result in the raise you want, there are ways to increase the odds of success.

We spoke to recruiters, a manager and a psychologist in the UK, who shared five tips on how to best negotiate a possible pay raise:

1. Choose the right moment

Jill Cotton, a career trends expert at Glassdoor, says that scheduling a conversation in advance will allow you and your boss time to prepare — making it more likely that the exchange will be productive.

“Don’t take your boss by surprise,” recommends Cotton. “Be up front and say you want to schedule a conversation specifically about salary.”

Rowsonara Begum, who together with her brother manages an Indian restaurant in England, also remembers that there are good moments considering the situation of the business itself: if the worker presents his demand in a period when the enterprise is doing well, there are more chances of success in requesting a raise.

2. Take evidence

If you’re asking for a pay raise, you must have a lot of arguments.

“Know what you’ve achieved in the workplace, what you’ve done to develop yourself, to support your team, your managers… List all the pros of what you’ve done,” says Shan Saba, director of recruiting firm Brightwork, in UK.

This evidence of good work also helps your boss rationalize why you should be paid more, according to Stephanie Davies, a psychologist who specializes in workplaces.

“The brain needs a ‘why’: why should I pay that amount?”, he exemplifies.

However, it’s not just about carrying a list of all your achievements: It’s also important to be clear about what you want to do next, says Shan Saba.

“If you have aspirations to grow within your organization, have a plan of what you intend to do in the next year.”

3. Be confident

Jill Cotton, from Glassdoor, says that people often don’t feel confident about bringing up this type of subject because there is a “stigma” on the subject of pay – which the expert remembers is “an important part of the job”.

Women and people from minority groups can find it particularly difficult to ask for a raise, adds psychologist Stephanie Davies. She advises looking for some kind of mentor or experienced person who can help you prepare for these conversations.

4. Have an amount in mind

Most experts agree that it’s best to have an exact amount in mind before starting a compensation conversation.

Do your research, advises James Reed, president of recruiting firm Reed.

“You can search the internet for job postings and see what the salaries are for similar jobs,” he says.

Cotton cautions that the amount must be realistic.

“We’d all like to be paid millions every year. But we’re getting paid to do a job with the skill set we have,” she says.

5. Don’t give up

If the above steps don’t result in a pay raise, try not to get discouraged.

“Sometimes these conversations can take a while, even months, but it’s important to keep the communication open,” says Begum.

Salary isn’t everything either, says Reed.

“It’s not necessarily just about the money. You can get more flexibility in working hours,” he says, adding that additional training and development tools can also be negotiated.

And if you feel like you’re not getting what you want from your employer, remember that there are other opportunities out there.

“You can always look elsewhere, that’s the big takeaway,” says Stephanie Davies.

This text was originally published here.