Prepare for pay-rise negotiations

By Ross Jolly

I think I deserve a pay rise. What can I do to negotiate this with my boss?

Knowing where you are at now, and determining where you believe you should be, is essential to negotiating anything.

In preparing to negotiate a pay rise, do your research on:

• The present market-value range for your role and someone with your skills and experience. Talk to people in the industry, use salary surveys and check with your industry association or recruitment specialist on current salary brackets.
• How your employer’s company performed lately and whether any sort of salary increase is feasible and reasonable. Negotiating increases in salary or benefits is obviously more challenging in times of depressed markets and economies versus boom times.
• How you’ve performed lately. What is your value to the company? Are your achievements measurable and do they justify a pay rise? It’s not enough to simply occupy a job. Demonstrated performance is the key to being rewarded, not longevity.
• What extra value you’ve contributed to the company. Don’t assume your boss is aware of all the work you are doing. Document any additional tasks and duties you have undertaken outside your job description and their associated value to the company. It’s no good listing extra work that adds little or no value to the business.

Preparation is the key to any successful negotiation. Determine exactly what it is you want – not a ballpark figure – and write down the ideal figure (and benefits) as well as your minimum figure.

By clearly articulating your best and worst-case scenarios, you know exactly what your negotiation position is.

Now that you’ve done the research and determined your negotiation position, it’s time to practice your pitch.

A friend or mentor can put you through your paces and help identify any areas of concern and devise tactics to deal with them. Pay particular attention to your professional strengths and weaknesses.

Now it’s time to book the meeting with your boss. Choose the best day, time and place to have your discussion, making sure you will be free from interruptions and you have time on your side. A face-to-face meeting is generally more effective than a written request for a pay rise, as it offers flexible, two-way communication and allows you to address objections right away, provided you’re properly prepared!

At the meeting, keep your posture strong. It is critical to “walk the talk” like someone who is worth the salary that you are about to negotiate.

Also be conscious of your tone – don’t be too needy or too pushy.

Leave excessive emotion at the door. This is business, not personal. Be honest, and don’t beg or threaten.

And importantly, should your boss’ answer be “no”, watch your reaction and be sure you don’t say something you’ll regret. Ask your boss why, as there may be factors outside his or her control affecting the ability to grant pay rises.

Look to turn a negative situation into a positive one by proactively formulating an action plan with your boss on how you can improve and work towards a pay rise, through further training, added responsibilities, etc.

Ross Jolly is a business coach, speaker and trainer and a director of consultancy Sound Reasoning. Visit www.soundreasoning.com.au.