One of the quickest ways of earning extra money is starting with your main source of income and for most people, this will be their full-time job. How to Negotiate a pay rise can be tricky, not only that but also a little bit nerve-wracking. In fact, a lot of people just dont ask in fear of upsetting their boss. The main thing is not to think of it as being a bit cheeky or undeserved. Why do you feel you deserve one? That’s the best place to start.
Do I Deserve A Pay Rise
Asking for a pay rise because you want to start earning extra money isn’t as simple as just asking the question, No boss in the world no matter how small the company is going to just give you extra cash, You need to be motivated. If you aren’t doing so already then I would pull out all the extra stops at work.
You need me to work that overtime? No problem. You need me to work through my lunch in order to get that delivery ready? No problem. I’m not saying this kind of work ethic is the way forward it’s just a bit of pre-planning. When you negotiate a pay rise your boss is going to remember the last few months and how hard you have been working and your contributions to the company.
Are you meeting any targets that are set for you?. If not then make sure you are doing your best to hit them. Have you taken on any extra tasks that you wouldn’t normally be doing? Have any extra tasks been made part of your job that were not originally?. These are all extra things you are doing as part of your job that is worth mentioning when you negotiate a pay rise.
Are You Worth It
What I mean by that is do you know your worth?. Do you know what the average person in your job sector earns per annum?. If you dont then I suggest you check it out. There are various websites out there that will give you a good idea of pay grades in the sector you work in. Indeed.co.uk is a good site to start out with as well as payscale.com
If you already know that you are on the lower end of the scale for pay in regards to your particular job then you have a bargaining chip for when you negotiate a pay rise and start earning extra money.
How To Ask For That Pay Rise
So now comes the crunch time. How do you ask for the pay rise you feel you deserve.? First, you need to decide whether you are going to ask your boss face to face or whether to do it in an email or letter, etc.
I suppose this does depend on whether your boss or person who decides pay works with you or not. In my particular case, they didn’t work with me so I drafted an email to send.
In some companies you are automatically guaranteed a pay review after a certain period of time has elapsed. This makes it a lot easier as you now have a guaranteed pay review meeting to discuss pay so make sure you’re ready. If this isn’t the case for you, then its time to chat with your boss.
If you are not nervous and are comfortable in doing so then speak to your boss when they are not busy. Ask if you could have a meeting with them to discuss your performance. This can also be discussed along with your pay,
Make sure you are prepared for this meeting and any questions that may be asked. If sending an email it would be good to ask if you have a pay review meeting and list a couple of points as to why you feel you require this meeting, such as length of time since the last review/any review. Recent workload increase, extra hours, etc.
Show Me The Money
Ok, the rubbish tagline, I know. Listen it’s not just about earning extra money, I’m sure there could be other ways your boss could help you out and make your life easier, such as giving you a full lunch if you dont already get one or an early finish here and there.
You could arrange for extra overtime payments, this way your company is getting more productivity from you and you are earning extra money. Flexible work time is also an option if you have children. Dont feel that by not getting the money you feel you deserve then that is the end of the negotiation. When you negotiate a pay rise think about what else would help before you enter that meeting.
Summing Up
I know there is a lot to learn there, but when you negotiate a pay rise it is not something to be rushed. Spend a few evenings making notes on a laptop or piece of paper and make sure you have all you need to go into a pay review meeting confident and professional.
Most of all make sure that even if the answer to your pay negotiation is a no, and you dont get the rise you were after not to be negative. Ask for the reasons why you won’t get a pay rise and also ask if there is anything you can do to improve your chances in the future. This shows professionalism and gives you the knowledge to improve and get that future pay rise. Now go and negotiate a pay rise and show off your hard work.
Asking for a raise is one way to increase salary. Normally that wouldn’t be too much of a bump. There are various other ways to do that as well. But this is still a good post for it.
That’s right, there are many ways to do it. I’ve covered a few and if anyone is serious about earning more money from their job it’s worth searching out some more ideas.