How to Ask for a Pay Rise (And Actually Get One)

Perhaps you have been employed in your graduate job for several months now, or have willingly taken on a few important responsibilities that were not originally listed in your job description. If either applies to you, it may be the right time to ask for a pay rise.

But, when is the right time to bring up the conversation with your boss? Should you wait for them to initiate the topic, or should you take the plunge and schedule a meeting? This is all dependent on the situation, which we will discuss in more detail below.

It’s normal to feel embarrassed about discussing finances with your employer – especially when it comes to putting a value on your efforts in the business. But with the cost of living constantly on the rise and financial pressures becoming more difficult to handle, it’s best to express your concerns to see whether there is a chance to secure that all-important salary increase.

So, if you’re keen to ask your boss for a pay rise, here are a few tips to increase your chances of success:

Research and timing

Before discussing the prospect of a higher salary with your employer, it is wise to carry out thorough market research to determine the average salary for your role and level of experience. Explore job boards to assess the salaries offered for similar positions in line with your daily responsibilities. Aligning your expectations with industry standards gives you a stronger case when the time comes to negotiate your salary.

It’s also wise to factor in the company’s performance when timing your request. Perhaps the organisation is actively hiring with plans to expand in the near future. In this case, it could indicate that the business is in a healthy financial position and willing to negotiate pay for their top-performing employees. However, it’s wise to steer clear of the topic during periods of intense stress and financial strain; whether it be a busy sales period or staff redundancies.

Highlight your achievements

When asking for a pay rise, always ensure that you have evidence of your achievements at hand, as proof of your dedication and commitment to the company’s growth. Be sure to throw in numbers and percentages too, as these figures provide a clear outline of the value you’ve brought to the organisation.

You may also want to look back at the job specification you applied for and make a list of all the extra tasks you have been assigned since starting your role. While employees are expected to juggle responsibilities in line with the company’s needs, it may be about time to ask for compensation if you’re truly exceeding original expectations.

Be open to negotiation

While you may have a rough salary figure in mind, always be open to negotiation during the discussion with your employer. Be aware that the organisation may have specific budget restraints in place, which may limit their ability to meet your requested figure. Always remain calm and reasonable in this instance, as they may be happy to revisit your request in the future should circumstances change.

If your salary request unfortunately isn’t met, there may be alternative benefits offered to boost job satisfaction. Your employer may be willing to offer you perks such as flexible work arrangements, professional development opportunities, increased annual leave days, or performance bonuses tied to specific targets.

If, however, these options still fail to meet your expectations, it might be time to step back and re-consider your position. Exploring new opportunities elsewhere that offer a more competitive salary may be a natural progression in your career journey; to ensure that your hard work and experience are rewarded, in line with your financial goals.

If you’re still on the hunt for a graduate job, you’ve come to the right place. By registering today, you’ll have access to a vast selection of internships from various industries and companies across the UK.