How to: Ask for a pay rise

Salary negotiation can be intimidating, but it doesn’t have to be.
With the right approach and some prep work, you can achieve the best possible result.

iknowho Lead Talent consultant, Sheryn Small says “asking your boss for a pay rise is no different to pitching an idea to your client. Do your research. Know your audience. Come armed with facts. Get your timing right, keep it tight and leave your emotions at the door.”

Based on our annual Marketers Survey (2023) 53% of respondents received a pay increase in the last year and from those that didn’t, 72% said they were open to looking for a new role. So, we’re here to help prepare you to have that sometimes tricky conversation with some simple tips in order to potentially avoid having to jump ship:

1. Know Your Worth
Before entering any salary negotiation, it's crucial to have a clear understanding of your skills, expertise, and what sets you apart from your colleagues. Ask yourself:

· What are my unique skills and strengths?

· What accomplishments or projects have I successfully completed?

· How have I added value to my current or previous employers?

The key is not focusing on your desire to have more money but rather on your value and contribution.

2. Gather Supporting Evidence
In any negotiation, information is power. To make a strong case for the salary you want, round up some solid facts and figures to back it up.

Create a business case with your accomplishments, highlight instances where your contributions led to increased revenue, cost savings, or improved processes. You need to go beyond how you’re delivering on your current KPI’s, it’s about showing how you’re delivering above and beyond.

iknowho GM Kahli Fenn says, “I encourage candidates to keep track of their achievements throughout the year. You might like to create a folder in your inbox of those moments where you know you have performed well. It might be that great piece of feedback you had from a client or some fantastic results delivered on a campaign. It’s easy to forget all those wins but if you file them away, it can be helpful when it comes time to have the conversation.”

3. Research Market Guides
To ensure your salary expectations are realistic and in line with industry standards, research market guides and salary surveys. These resources provide valuable insights into the typical packages for your role and experience level.

Having this information, you can confidently negotiate a salary that aligns with not only your skill but market rates as well.

4. Practice makes perfect
Be prepared to articulate your case clearly and professionally. Consider the following communication tips:

· Practice in advance.

· Be confident and assertive but not confrontational.

· If you don’t get the response you’re looking for initially, ask for some time to think it over, don’t feel the pressure to leave the
conversation there.

· Listen actively to the responses and be open to compromise.

Which leads us to our next point…

5. Be Open to Non-Salary Benefits
While a higher salary is often the primary focus, don't overlook other benefits that can make your overall situation better. These may include flexible work arrangements, additional annual leave days, development opportunities, bonuses. Be open and prepared to discuss these aspects as well.

6. Timing Matters

Picking the right time to talk salary changes can really make a difference. Ideally, initiate these conversations during performance reviews, when you're receiving a new job offer, or when you're taking on more responsibilities.

Ask for time in your managers diary outside of your standard catch ups, letting them know that you’d like a meeting to discuss your performance and contribution to the team. This gives your manager the opportunity to not be caught off guard and enter into the conversation in the right headspace.

Bec Godkin our Senior Talent Consultant also encourages "Being prepared is critical, success is in the detail. Approach the conversation armed with evidence-based examples of your contribution. Demonstrating your direct involvement highlights and reinforces your dedication"

Salary discussions need not be intimidating, but rather a persuasive pitch, armed with facts and confidence.

Get in touch with your iknowho consultant if you’d like more tailored advice to your situation, we’re here to help.

Click here to download the latest Salary Guide for the Marketing World.

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