Negotiating a pay rise or promotion can be a difficult conversation; take a look at our suggestions for the best ways to approach it with your boss.
Benchmark industry salary levels
Research what the market rate is for people in similar roles with comparable levels of experience – ideally, look to salary bands within your region as they can vary considerably between different parts of the country. Take into account that benchmark levels are designed to give an indication and will often be presented as a bracket with upper and lower levels.
Gather your evidence
It pays to be well-prepared before speaking to your boss. Take time to consider why you think that you deserve a pay rise or promotion and make sure you can back up your claims with strong examples. Prepare your key points and try to anticipate questions that your boss may ask – treat the meeting in the same way that you would a job interview. If you have been offered a pay rise – and you feel you deserve more – see if there is a way you can work together to develop an agreeable solution.
Don’t wait for an annual performance review
It is important that you are continually highlighting your achievements and contributions throughout the year – don’t just wait for your annual performance review to run through a list of great things you have done in the last 12 months. By showing a consistently strong performance all year round, your request for a pay rise or promotion will not necessarily be unexpected.
Don’t just focus on salary
In periods of uncertainty, a pay rise or promotion is out of the question. However, look at other ways you can be ‘rewarded’ – can you negotiate additional holidays, flexible hours, compressed hours? Can you look at having your job title changed to recognise your additional contribution or responsibility? Whilst this may not come with an additional boost to your salary – yet – a more senior job title could have longer-term career benefits in terms of applying for new roles.
Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to find out more.