Inflation is no joke. The cost of living has risen. We have bills to pay! Unfortunately, most salaries are not keeping up with inflation… leaving us with more financial difficulty than we’ve had. So how can you ask for a pay raise amid the cost of living crisis?
- Knowing and comparing your salary. First you need to know how your salary compares to others both in your company and in the industry that you are working in. Use the information you found as part of your negotiations.
- Naming a figure. It’s important to choose the number carefully before you say it to your employer. It should be a noticeable difference in the pay you take home, but you don’t want to seem greedy.
- Consider the timing. Unfortunately, a lot of companies are still dealing with the negative impacts of the pandemic. Because of this, any request you make should be backed up with evidence, like recent achievements and market comparison.
- Arrange a face-to-face meeting. Don’t go above your boss, go to your boss. Set up a meeting that’s face to face rather than having this conversation via email. Also, document your discussion after the meeting in writing.
- Sell yourself. Make sure you go into the meeting with a list of your achievements and an overview of everything you have contributed to the company. You have to show them why the business should pay you more.
- Work with the answer. Don’t just focus on the number you’re being given, focus on the total package, especially as some employers may not be able to match salary expectations.
- Don’t be afraid to walk away. Especially if you find a better offer at a different company, don’t be afraid of making the switch and leaving.