How to negotiate a pay rise

Pay raises can be hard to get, but many of them aren't given because they aren't asked for. People are generally too afraid to ask for a pay raise, even when they think that they deserve one, because they don't want to seem greedy or have their employer assume that they're ungrateful for the money that they already make. If you're in the position of needing more money and you really feel as though you've earned it, it may be time for you to get brave and ask for a pay raise. You can do it, and you just might receive it, if you take the time to ask the right way. Just going into your boss' office and saying that you need a raise isn't the way to handle the issue. Your boss will be caught off guard, and you're not as likely to be successful. It's much better to contact your boss and ask to make an appointment to discuss your contributions to the company and your level of compensation. That tells your boss you want to talk more money, but it also tells him (or her) that you're aware of what you bring to the company and that you're respectful enough of his or her time to ask for an appointment. Those are big pluses to most employers.

When you go to the appointment and sit down with your boss, be prepared. You know what you've done for the company and you should be able to articulate that. Don't talk down to your boss and make it seem like he or she doesn't know what you've done, but remind your boss that you've accomplished a lot, how long it's been since your last pay raise (or your hire date if you've never received a raise before) and why you feel that a raise is warranted. Don't make any threats about leaving, talk about how much other employees receive, or say that your friend over at company X does basically the same job and makes much more. None of those things will impress your boss or get you that raise. Working hard, being respectful, and asking politely will give you much more of a chance at seeing increased money for your efforts.

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This article was written by Tom Sangers on behalf of Martin Ward Anderson who offer accountancy recruitment services for finance jobs in the UK and Internationally