So, you want to ask for a pay rise?
Join the club. I don’t know a single person who would turn down getting paid more money. Heck, with cozzie livs like this, even a minor bump makes all the difference.
The tricky part is knowing how to ask. It’s all well and good to want more money, but if you don’t go to the table with a plan, then I hate to break it to you, but you’ll probs crash and burn.
So, in my quest to be the voice of reason for young people (and I say this as a fellow Young Person, so don’t come at me for being condescending), I took matters into my own hands to prepare a master guide on how to up those dollars.
I sat down with Soph Hirst, Gen Z Career Coach and founder of Workbaby, a platform that gives young professionals what they need to get ahead. If you want to start planning your next pay rise, read on.
What’s the current vibe?
I’m prefacing this by pointing out that Gen Zs are an incredible asset to any workforce. We’re filled with bold ideas and even bolder fits. Don’t worry — Soph agrees too.
Nevertheless, Soph has sat down with 50+ managers across heaps of industries in her time as a career coach, and there’s one standout takeaway.
“Many Gen Zs have unrealistic expectations around pay rises and promotions. A lot of this is due to social media. If you jump on TikTok, there’s advice that tells you to ask for a pay rise every six months,” says Soph.
Real talk guys my probation is next week (got reduced from 6 months to 10 weeks bc I am a star) and I want to candidly ask for a pay rise bc I’ve been covering my supervisors role since the day I started. How do I do this in a classy way that will allow me to secure the bag?
— ٌ (@elghwliyah) December 4, 2024
Okay. First of all, I wish. Second, there ain’t no way.
“This line of thinking leads young people to think that you should just ask for a pay rise after a certain period, especially if that’s what they believe everyone else is doing,” Soph tells me.
“In reality, you should actually be asking for a pay rise if something has changed in terms of your impact on the company, whether that’s more scope, or being better at your job.”
We’ll get into that soon, but first, let’s talk about what you need to know before asking for more moolah.
Know your company (as well as possible)
Before you even think about asking for a pay rise, get to know your company.
Generally, a lot of companies don’t have transparency about asking for a pay rise or promotion.
“People might think that people are getting huge pay rises every year, and because companies don’t talk about it, there’s no way to know for sure if that’s the case,” says Soph.
“Companies need to be more open. Sometimes, they’re open for you to ask about a pay rise at any time if you’re performing well and exceeding expectations, but other times, you’ll have to wait for a formalised review.”
Soph’s pro tip? Put yourself in your manager’s shoes — as much as possible, of course.
“You’re already at a disadvantage. Managers are privy to all sorts of conversations you’ll never hear, and budgets you’ll never see,” Soph tells me.
“What you can try and do is ask for documentation. Ask the people around you — whether it’s your manager, HR, or even just your peers. Do your research, and find out how your company approaches pay rises before you even begin to plan how you’ll ask for one.”
Something else that’s helpful is benchmarking your salary against what others are getting paid for the same role.
“Using external data, like the Hays Salary Guide, can be super helpful in showing what you should be paid for your role,” says Soph.
“If your salary is lower than what the data shows, you’d have a lot more supporting evidence to ask for more money.”
This aside, it’s time for the golden question: how much money should you even ask for?
You guessed it — there’s no straight answer. It depends on a few different things.
“A good rule of thumb is [a pay increase of] 5-15 per cent. Anything less than 5 per cent, you won’t really notice a difference, and anything towards 20 per cent is moving towards promotion territory,” says Soph.
“Take into account the company situation, too. Many companies have formal tiering for pay rises, but for others, it might be more based on budgets and their current financial situation.”
So, here we are. Once you know your company inside and out (or at least, close to), it’s time to decide if you’ve done enough for a pay rise.
Be bold, but not delusional
Golden rule? See above.
“The phrase ‘there’s no harm in asking for a pay rise’ is a slight myth. It’s great to be bold and upfront, but if you haven’t done your research and shown you know how to read the room, it could make you look even worse,” says Soph.
As I said earlier, the main prompt to ask for a pay rise is if there’s been a change in how you’re impacting the company. This can be either via your scope of work, or simply by being better at your job.
“Either your responsibilities have expanded, you’re managing more people and/or taking on more work, or you’ve just improved. By being more well versed in your areas of working, you’re delivering more impact and value,” says Soph.
A helpful way to look at building your case for a pay rise is showing evidence that something has changed, and it’s grounds for a sweet bump.
“Firstly, you want to look at your experience. What new knowledge are you bringing to the table? Have you been in the role for a year, and gathered more experience that way? Have you undertaken a course in your spare time to bolster your skills? All of this can be taken into account,” Soph tells me.
“Then, take a look at your impact. I don’t mean a list of your tasks, but what you’ve actually done in your time that’s made a tangible difference. Whether that’s helping increase revenue, maintaining client relationships, saving the company time or money, or even how you’ve supported your team. Condensing this into three major points is a good place to start.”
The third and final factor to take into account when gathering evidence is — you guessed it — the company. They hold the keys, after all.
“Take a look at company goals, and point out how you’ve helped contribute to them. You don’t have to have met it, but how have you played a role? A good way to frame it is starting with the company goal, then linking your contribution to the goal,” says Soph.
A parting word: co-create success
On a final note, it’s worth mentioning that there’s a spectrum when it comes to pay rises.
On one end, there’s, “I want to ask for a promotion every six months simply because I want that.” On the other end, there’s, “I’m too scared to bring up a pay rise, so I’m not going to.”
The reality is that those who ask will likely get a pay rise much more frequently than those who don’t.
I just asked my highest-paying client for a raise… and they agreed. In two minutes. They also said they I'm "one of our best writers" 😭
— 💫💫 (@iamaltstorm) March 22, 2023
It's the first time I ever worked up the courage to ask for a raise. And it worked out fine!
Here's your sign to ask for that raise 🥂 pic.twitter.com/N1CW8AwziZ
“People will come through who are more bold about asking for a pay rise, with less experience and skills, and yet, they’ll get a pay rise. If you’re too scared to ask, you could be the better candidate, but you’re shooting yourself in the foot by not even trying,” says Soph.
Ultimately, if you truly believe that you’re working hard, thriving in your job, and valuable to your company, channel that. A great way to do this is by facilitating a co-creation process with your manager.
“You can have the conversation and phrase it as ‘In six months, I want to ask for a pay rise. What would it take for that to happen? What do I need to deliver?’ By doing this, you give them time, and prove that you’re willing to work to make it happen,” says Soph.
“It also can hold companies accountable. Sometimes, there can be a bit of carrot-dangling where false promises can be made that aren’t backed up by anything substantial. By documenting what you actually need to do to get a pay rise, that helps with accountability.”
If you made it this far, gold star for you. Keep a note of all the great work you do, talk to those around you, and above all, read the damn room. Now go out and get those fat salaries, queens!!!!!
If you’re looking for a brand-new gig with a spanking salary to match, check out Pedestrian JOBS, and thank me later.
The post How To Ask For A Pay Rise & Actually Get One, According To A Careers Coach appeared first on PEDESTRIAN.TV .
