Saving money can give a boost to your saving or debt repayment, but the real boost will come from your increase in income. Whether it is by doing some extra work on the side or by working towards salary increase at your current job. But, a silent worker will never get the hike unless you ask for it, unless you are exceptionally valuable or extreme lucky.
Even if you are satisfied with your current job, at some point in your career there will be moments when you have to step up to the plate and ask for more money. There may only be a few times when you need to take this action but definitely the moment will come. Whether you have a HR job , technology job or you work in sales, the moment will present itself and you need to be prepared.
It can be terrifying and many people put this moment off as long as they can. Remember that your boss will have had lots of people asking for a pay rise, you will not be the first one, so don’t be afraid its your duty to earn more and provide better comfort to your family.
There are a few things that you need to prepare before you pitch for your pay rise. You should create a list of the achievements you have made in your current role, show that you are working above and beyond your current job role, that you are prepared to take on more responsibility and that you have suggestions on how to improve the current system. All the achievements you have made within your current role will support your application for either a pay rise or a promotion.
You should also do some research into the company’s finance, it is unwise to ask for a pay rise when the company are making people redundant. If they are not in a position to offer you a pay rise then it is advisable not to ask for one.
You should also find out which person you need to talk to get a pay rise, is it the HR department or your boss/manager. Make sure you pitch to the right person. When you have found out who to talk to, you should set up a meeting at a convenient time with them. Don’t bother when they are incredibly busy. Remember that they are busy people and that you should justify the time that they have given to you, else you are just wasting their time.
Once you have the meeting set up there are a few other things that you need to remember. You should not talk about other job offers or prospective employers when negotiating; this may sour the current relationship with management. Lastly, if management agrees to give you a pay rise you should follow it up in writing by an email or letter.
The best thing to remember when pitching for a pay rise is to be prepared; the management will not be impressed if you swan in asking for money failing to justify the reason or asking for raise too frequently.
Often the situation might not go your way during or after the negotiation, be prepared to look out for alternative and quit the current job. This is another article I wrote about steps to be taken before quitting current job.