Ahead, we break down seven ways to show your boss you deserve more money.
Show off any qualifications
‘If you’ve completed a new qualification that nobody else in the company has, or if you’ve finished some training, make sure your boss knows about it,’ say the Factorial HR experts.
‘Show them exactly how you plan on transferring your new knowledge and skills into your role so they can see just how much value you’re going to be adding.’
Have examples of your successes
Whether these are examples of times you’ve gone above and beyond for the company, a bunch of positive feedback, or moments you’ve worked well within a team, make sure you have hard evidence of times you’ve been brilliant.
It can help to write these down or send them in an email before your meeting so you’re not left floundering when asked to show what you’ve delivered.
It’s worth planning the pay rise talk for soon after one of those moments of success, on a related note.
‘Your achievement will be fresh in their mind, and you’ll be able to ride the wave of success from the project into bagging yourself a pay rise,’ say the Factorial HR team.
Research salaries for similar roles
‘Get searching for roles similar to yours and find out how much they average salary is,’ say the experts. ‘If there are key skills in higher positions that you have, make note of it and show your boss.
‘Tell them that the skills you have align to a job role that is higher than the one your currently In and therefore has a higher salary.’
This is a key skill that bosses will be looking for when it comes to promotion and pay rises. In the weeks and months before your conversation, ensure you’re stepping up and doing important things without being asked or prompted.
Focus on suggesting new ideas, projects, and solutions – and make a list of the ideas you’ve had that have been successful.
Another thing managers will be asking when they’re considering upping your pay: is this person a leader? Could they step up to a more senior role?
Again, this is all about the prep work. Before you ask for more money, ensure you’re ticking off the ‘shows leadership skills’ box. Offer to take the lead on projects, work well within the wider team, and help junior people to learn key skills.
Then, as with all things, don’t be shy about bringing up all the times you’ve been a great leader. Now is not the time to be humble – just make sure you have a list of examples handy.
‘A really easy way to prove you deserve the pay rise you’re asking for is to be logical about it,’ say the Factorial HR team. ‘If you go into the conversation with grandiose statements and promises, they’re unlikely to believe you.
‘However, nobody can argue with logic, so the more sense you make, the more likely they are to agree to the pay rise.’
Numbers don’t lie, so if you have any stats and figures to show your value, bring them along to the chat.
Have a vision for your future
Employers aren’t keen to invest in people who don’t plan to stick around or progress.
Be ready for the question of ‘what next?’. Build a case not just based on what you have done, but what you’ll continue to do, and all the rewards the company will reap by paying you what you deserve.