How to Ask For a Pay Rise in 2022 – Top Tips for Negotiating a Higher Salary
The cost of living is rising sharply so increasing your salary should be a priority this year. It is a known fact that many employees avoid salary negotiation conversations due to fear of their request being rejected or even losing their job. However, we have prepared some expert tips that will not only enhance your confidence, but also improve your chances of negotiating a higher salary.
1. When asking for a pay rise timing is Key
Being able to identify a suitable time for negotiating your salary is crucial. There isn’t necessarily a ‘perfect’ moment to ask for a pay raise, but certain periods are appropriate, such as when you’ve earned additional qualifications or advanced in your career by winning a promotion or taking on a leadership role. Other common times to discuss a pay rise are during your annual performance review or at the end of a financial year.
2. Take pride in your value
It is common for employees to think that the amount of time they’ve worked for a company should reflect their salary, however this is usually not the case. Employers want to reward you for achievements, talents and contributions to the company, so it’s important to assess your own value.
Build a strong case around your most successful projects – note both individual and team contributions with supporting evidence. Ultimately you want to show that your contributions aid the success of the company.
3. Be Prepared before asking for a pay rise
Requesting a pay rise can sometimes be uncomfortable so it is vital that you are prepared to answer some challenging questions such as:
· If you were to receive a raise, how much would you want?
· If the company fails to meet your expectations, will you leave?
· Is it an appropriate time to ask this question, considering the state of the economy?
· Why do you feel you deserve a raise of this kind?
4. Be flexible when asking for a salary increase
You shouldn’t threaten to quit – be open to compromise and listening. If they are unable to agree to your request right now, they may have many valid reasons. You should continue working hard and bring up the conversation at a later date. However if you find a better opportunity elsewhere – don’t be afraid to walk away but you should ensure this decision is considered carefully.
Pay increases are not always guaranteed; especially given the current financial challenges companies are facing due to the Covid-19 pandemic. In the event that you are unable to receive a pay raise, but require one, consider a side hustle or looking for a new job. If you’re searching for a new role, apply for live jobs or upload your CV on our website.