According to recent Guardian article, wage growth in the UK has finally started to pick up again. This is a change to the anaemic wage growth seen since the financial crises where rates were stuck in neutral. The average wage rate increase is now 2.7% and this is good news for the employed.
What does this mean to you?
It means that everyone else is getting paid more, so it’s time that you ask yourself the question, “Am I paid what I’m worth? Is now the time to get a bigger raise?”
If your current boss won’t give you more money, you might benefit from testing the waters elsewhere and applying for a different job.
Asking for a Raise
Here are five top tips from around the web that would help you in scoring that raise:
1) Always ask – People don’t ask for raises because they fear their boss might get angry. If you don’t ask, you shouldn’t expect to receive a raise. You need to be comfortable with making your boss slightly uncomfortable about your pay level.
2) Scout out your competition – How does your salary compare to others in your field? Is your pay competitive or is it below the norm? Use websites like glassdoor.com, getraised.com, and payscale.com to find this out.
Presenting this information to your boss not only proves the point that you deserve more, but it also shows that you care enough about a raise to have studied the compensation of others in your field. Have that amount you want in your head when you ask for a raise.
3) Show your boss the future – If you tell your boss what you can do for him if he gives you a pay raise , he’s more inclined to do it. This is fantastic because it gives you the chance to take on more responsibility and make yourself more important in your boss’ eyes.
4) Bring Data – If you can show your boss how much you’ve added to the bottom line, that’s powerful stuff. Show your boss what value you bring to the company and how your enhanced performance has been good for the company. Show your boss a list of your key achievements, and focus specifically on the areas of accomplishment that are important to your manager.
5) Avoid emotional pleas – Don’t bring out your sob story – your boss doesn’t care that you need more money. Don’t tell your boss that you can’t afford your rent, or that you need a raise to cover other personal expenses.Instead, show him the stats and data as mentioned above to show how you add value to the company. Stats work. Begging doesn’t.