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How to Negotiate a Pay Rise

If you've been working for a company for a number of years, and the company is running smoothly despite the looming recession, it might be the right time to ask for a pay rise. However, you have to consider when and how to ask carefully and ensure you've considered your reasoning to negotiate a pay rise.

Steps to Negotiating a Pay Rise

Timing

Pick your timing carefully. Make sure you have a track record of accomplishments and achievements within the company to warrant a pay rise, and evidence of these. Avoid asking for a raise if you've only been with the company for a few months, even if you have a set of accomplishments, or if the company is facing financial crisis.

Consider your value to the company

Avoid mentioning personal reasons for a raise - such as your expenses - and focus on your value to the company. Your manager is more likely to accomodate for people they find valuable to their operations and someone they don't want to lose, rather than someone they feel less impressed or lukewarm about.

Base your salary on the industry norm

Use examples for industry trends and average salaries to negotiate a pay rise; avoid comparing your salary to co-workers or others in the company, even though it can be frustrating to earn less than someone who seemingly does not do as much work as you.

Provide details to support your case

Try to show how your work has helped the company and how valuable you are as an employee, and provide examples of this; whether it be customer reviews and recommendations from co-workers, examples of achievements and how your ideas have increased revenue for the company thereby warranting a raise.

Rehearse what you want to say

Before you ask for a raise, make sure you have rehearsed exactly what you want to say and carefully considered your argument.

Confidence

When looking to negotiate a pay rise, remember to be confident in your abilities but not arrogant; don't allude an attitude of entitlement simply because you've worked for the company for a year and met the minimum job requirements. You must still show you appreciate your place of work but believe your high performance warrants a pay rise.

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