Asking to dicuss a payrise can conjure up visons of a meeting as stern as one with Miranda Priestly from the Devil Wears Prada. Though with the right prep and knowledge a salary review can be the perfect opportunity to sit up, be counted and get the dollah you deserve.
So to make the lead up to the big conversation less of a scary prospect, we've asked leadership experts everything you need to know to ask for what your really want: more money. Plus, what to do (just in the case) it doesn't work out as planned.
First things first: What are the clearest signs you're being underpaid?
Aimee Bateman, careers mentor and founder of Careercake{
Don't expect your boss to come to you
A payrise isn't going to land in your lap - it's not enough to assume that if you meet your KPIs and work hard you'll be rewarded. 'Women musn't fall into the trap of the ‘good student syndrome’. It's not enough to sit at your desk, keep your head down and work hard,' says Allyson Zimmerman, Executive Director for Catalyst, who help women advance in leadership roles. 'To negotiate the best deal, women need to make sure their accomplishments are known, ensure they're visible when opportunities arise, and find 'sponsors', i.e., senior people who have strong influence in the company's decision-making, who will advocate for them.'
What information should you arm yourself with to ask for a pay rise?
Know your worth
Before you go ahead with requesting the big meeting with your boss, it's important to prove you've made an impact on your company. To really help spell out why you deserve the pay rise gather some quanitifiable evidence to bring to the board room table. Aimee recommends asking yourself 'Do you regularly exceed targets? What have you achieved for them and what have been the benefits to the business - whether tangible or non. Have you saved them or made them money, have you improved processes or implemented a new initiative?'
Know your market
To judge how much you should earning and whether your pay expectation are realistic, Kathryn Foot Of Careercake advises 'Research the market place, review salary surveys, speak to recruiters; find out what are others in your position earning.' Also, being aware of your peers' earnings may be useful, but also bear in mind that 'there are often reasons for the differences. Compare what you do, your skills, projects you work on, see if you can spot any differences, but don’t go running to the boss just yet!'
So when is the right time to ask for a pay rise?
You shouldn't have to wait for review time in order to dicuss your pay, but make sure you have a case before you request a meeting, and consider the state of your company first. 'Take into account how the business is actually performing, if they are going through budget cuts or making redundancies then it is probably not the best time to ask,' says Kathryn.
On how to actually ask the question:
'Whatever you do, don’t run straight to the boss demanding answers!' warns Kathryn. 'Don’t ask her via an email rant, or at pub-lunch Friday and don’t ask her in the corridor. Find out what the set-procedure is and follow that. If your company does not have one then request a private meeting in neutral place (if the bosses office is too intimidating for you ask to meet somewhere else), wait for a one-to-one or an appraisal. Be clever, do your homework, know the market, know your worth and present it as a business case. Be diplomatic and be prepared to negotiate.'
You've got the meeting in the diary - how should you prep for it?
As well as knowing facts and figures, how you get them across is obviously important - and acting like a consumate professional is obviously the best way to go. 'Prepare your business case in advance, write down what you are going to say and practice,' says Kathryn. 'Prepare a brief they can take away. On the day stay calm and use positive body language. Avoid becoming aggressive or defensive, avoid tears and tales of woe and don’t threaten to leave. Present the facts and stick to them. Know your market worth but be prepared to negotiate.'
And if it's a 'no'
After plucking up the courage to discuss your worth, no one wants to be told 'no'. But Kathryn reminds us 'whatever you do do not take it personally - take the emotions out of it.'
'Always follow up with an email. Thank them for their time and ask for feedback; find out what you need to do to ensure you are successful next time. If you feel it is time to move on then start looking but don’t be vocal about it,' she adds.
And remember - money isn't the only form of reward you can seek at work, consider alternatives. Kathryn suggests asking about 'an extra day’s leave or more flexible working.' And to get to where you want to be - both financially and in terms of development - this is a good time to discuss upskilling. 'Speak to management and discuss your development needs.
'If your current employers can’t support this (they should, but let’s be honest not all will), then consider taking the responsibility for your own personal development. This doesn’t have to cost a fortune; sites such as Udemy and CreativeLive offer online tutorials in almost anything, they are cost effective and as it is distance learning you can be fit your training around your lifestyle. I guarantee that this will have a positive impact on your skill set and will improve your value and personal brand.'
Now go get 'em girl.