Archive for 12 June, 2015

5 Tips to Get Your Salary Back up to Market Value

It is a sad fact of life than many employers will not offer a salary increase unless you ask for it. Larger firms may offer regular, inflationary increases but this will not be the significant gesture that your hard work deserves. Provided you have been consistently working hard and have been with the company for a while then the following tips should help you achieve the raise you deserve.

Negotiating a pay rise Comvort Blog

  1. Know the right time to ask for a raise

Once you have worked at a company for a while you will come to understand your boss’s moods and when might be the best time to approach regarding this sensitive subject. Provided you have not recently messed up and the company is doing well you should request a meeting with your boss to discuss your current work and pay. Never spring this subject on them.

If you’re planning to negotiate, make sure to do it properly. Assess your options and don’t go overboard; negotiate for what’s rightfully yours. For example, if you’re been with the company for 3 years, then you are entitled to a raise. Start the negotiation with an emphasis on the main reasons you deserve to receive more money. Provided that have the right arguments you have the best chances of getting that 3% raise. Show them that you’re valuable and they won’t risk losing you.

  1. Focus on your industry

It is essential to know how much other people within your industry are being paid. It is not likely that your boss will dramatically increase your salary if you are already being paid the going rate for your position. Your HR department may be able to assist with this or one of the many websites which offer pay comparisons.

Knowing how much similar positions are worth across the industry is a good starting point. From there you need to look at what you do which is above and beyond the normal call of duty. These factors should be listed so that you can refer to them in a meeting. If you have been with the company for a long time or it has been a long time since you had a raise it is essential to make a note of this information and use it in your meeting. Keep copies of your research to support where you are getting your figures from. It is also imperative to collect information together regarding specific projects and have this to hand for your meeting.

  1. Never threaten and always have a back-up

The worst thing you can do when asking for a raise is threaten to leave. This looks unprofessional and may also leave you in a position. If you really need to use this approach you should ensure you have a new job offer lined up first. It is essential to consider your boss’s response and reasoning and then to prepare a back-up plan to fight this contingency. One scenario may simply involve your boss saying no to a raise. It is perfectly acceptable to ask why this is and when a more appropriate time would be. Whatever your boss’s response you will be able to take a note of his words and document proof in order to call a new meeting in another two or three months.

  1. Stick to the truth

It is imperative to have solid facts and to tell the truth when negotiating a raise. If you do not you will be caught out and the raise refused or your boss will find out later. Either way this will not make for a comfortable working relationship.

Equally if you feel you are worth an extra $5,000 but are not sure the company will go that high you still need to ask and back up your request with evidence. If you as for less you may get it but you will never know if you could have got what you are worth and you will remain with the feeling of being underpaid.

No guns Comvort Blog

  1. Value and emotional connection

It can be very beneficial when requesting a raise to point out to your boss the value which you bring to the company. Your value will be in your knowledge of the work processes and can even be a reflection of the cost of extensively training a replacement. Facts are essential to back up any claim. You need your boss to have empathy for your request and this means they should relate to you. Any request meeting should start with how grateful you are for the employment and what the company has done for you so far. It can also be useful to hint at your excitement regarding the future of the company and you within that future.

Professional Guest post by Jason Phillips and TheGapPartnership.com!