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Is it time to ask for a pay rise?

 

Coin graph growth and success topicYou have a great job – you’re good at what you do, you’re well-respected by your peers and company leaders, and you have a clear cut path for advancement. Yet, you still don’t truly feel successful. Why? If you’re like the majority of workers recently surveyed by CareerBuilder.co.uk, it may all come down to money.

According to the new survey, 63 per cent of workers say they do not currently make their desired salary.

 

While the majority of both men and women surveyed are unhappy with how much they make, female workers are more likely to feel dissatisfied. Sixty-six per cent of female workers say they do not currently earn their desired salary, compared to 61 per cent of male workers.

When asked what motivates workers in their job, the top responses cited were money (54 per cent) and the ability to provide for myself and my family (48 per cent). Yet, while salary is often used as a benchmark for success, money isn’t the only factor motivating employees in their jobs. Thirty-seven per cent are motivated by the ability to make a difference, while 22 per cent are driven by the ability to create something meaningful.

How to ask for a pay rise

You may be dissatisfied with how much you make, but if you’re like many British workers, you’ve never proactively asked for a pay rise. ‘Our research illustrates that many employees are unhappy with their current salaries, which is interesting as only 39 per cent of those asked have actually asked for a pay-rise,’ says Scott Helmes, Managing Director of CareerBuilder UK.

Yet, if you ask for it the right way, chances are, you may end up getting what you want. If you’re unhappy with what you’re making and believe you deserve more, here are some tips for asking for a raise:

  • Time it right. You may think that your performance review is the optimal time to talk to your manager about getting a raise or promotion. But if you wait until your review, you may be too late, since those types of decisions may already have been made. Instead, shoot for a few months before your formal evaluation so your manager has time to make the case on your behalf.
  • Do your research.
  • Build your case. your actions as an employee make you worthy of a higher salary. Before talking with your manager, think through examples of how you’ve made an impact on your organisation – and if you can quantify your examples, all the better.
  • Meet in-person. While the idea of asking for a raise can be nerve-wracking, it’s a conversation that needs to be had face to face. Schedule the meeting ahead of time, and make the intention of the meeting clear, to ensure your manager is focused on you and what you have to say. If you forget to mention something, you can always send an email following up after the meeting reiterating your points.
  • Consider option B. There’s a chance that even if you’ve done your research and made a strong argument in your favour, your manager won’t be able to deliver on a higher salary. If that’s the case, consider whether there are other non-monetary benefits you could ask for instead, such as a more flexible schedule or additional vacation days.

Image Copyright: Marek_Photo, Photodune.com

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