How to ask for a pay rise
Negotiation and solid data to support your request are key
Asking for a pay rise can be a daunting task, but it's important to remember that you deserve to be compensated fairly for your work. This is particularly relevant for women (and those that identify as women) – as men are more likely to ask for a pay rise at work and get it. A YouGov survey in 2021-2022 of more than 16,000 people found that 43% of men asked for a pay rise, with 31% of those successful in their request, while 33% of women asked for a pay rise, and only 21% of those that asked received a salary increase (read more in this Guardian article).
The need for a pay rise also becomes more important now in a world of rising housing costs (rents and mortgages), food inflation, high energy bills (a big factor for the northern hemisphere moving into autumn/winter weather conditions), and care costs. In the UK, parents now pay an average of over £14,000 per year per child for a full-time nursery place (take a look at some data from the National Childbirth Trust).
Many parents of children are also in a position where they have to take care of their own parents too. For people who require a care home, in the UK the average fees can range from £27,000 to over £50,000 per year, depending on whether nursing care is also required (details here from the UK Care Guide).
Even without dependents and caring responsibilities, being able to confidently ask for a pay rise if you've been consistently meeting or exceeding expectations, is a key skill today in the workplace.
Here are a few tips on how to ask for a pay rise:
Do your research. Before you ask for a raise, it's important to know what you're worth. Research benchmark salary ranges for your job title, experience level, and geographic location. You can use online salary calculators, similar jobs that are advertised with salary details, websites such as Glassdoor, or you can talk to people in similar roles to get a better idea of what you should be paid.
Prepare your case. Once you know your market value, you need to prepare a case for why you deserve a raise. The best way to do this is in a formal letter, with the idea that you have a follow-up meeting with your manager in-person or at a suitable time if working remotely. The last thing you want to do is completely blindside your manager in a call saying, ‘I want a raise’. Give them time to read through your letter and research and to find out what they can do. Your letter should include a list of your accomplishments and contributions to the company. Be specific and provide data and evidence to support your claims. For example, if you increased sales by 10% last quarter, or you have recently starting line managing someone, be sure to mention that in your case.
Set a realistic goal. When you're asking for a raise, it's important to be realistic. Don't ask for too much, or you're likely to be disappointed. A good rule of thumb is to ask for a raise of 3-5% of your current salary. This will of course be dependent on the industry you work in and the level of responsibility you have. This is why doing your homework is key as you don’t want to undervalue yourself.
Be confident. When you ask for a raise, be confident and assertive. After sending your letter, set an in-person meeting if you can with your manager, or if you are working remotely, find a time where you can both be clear from distractions. Give your manager a few days to read your letter before jumping into a call. Make eye contact and speak clearly and calmly. Avoid apologising or downplaying your accomplishments. Remember, you're asking for something that you deserve.
Be prepared to negotiate. It's possible that your manager won't be able to give you the full amount of the raise you're asking for. Be prepared to negotiate and be willing to compromise.
Here is an example of how you could ask for a pay rise in a meeting with your boss:
"Dear [manager name],
I have very much enjoyed working as [job role] for [company] for the last [length of time]. In these years, I have consistently exceeded expectations in my role. For example, I increased sales by 10% last quarter, and I developed a new marketing campaign that has generated over 10,000 leads. I have also taken on additional responsibilities, such as mentoring new employees and leading team meetings. [Add as many points of evidence as you can]
I am confident that I am making a valuable contribution to the company, and I believe that my salary should reflect this. I have done some research on salary ranges for my job title, experience level, and geographic location, and I'm asking for a raise of 5%.
Once again, I am very grateful to be part of [company] and I very much look forward to discussing this with you soon.
Sincerely”
There are plenty of sample letters online, and here are a few good examples for you:
Robert Half: https://www.roberthalf.com/us/en/insights/career-development/how-to-write-a-letter-asking-for-a-raise
Indeed: https://sg.indeed.com/career-advice/pay-salary/how-to-write-letter-asking-for-raise
You may find that you are not successful in asking for your pay rise. Make sure you get some good constructive feedback on why this was the case. It’s perfectly ok to feel some disappointment but remember to be proud of the fact that you did some good research, you put your case together and you spoke with confidence.
Even if you don’t get the pay rise, you may be able to negotiate in a different way – can your organisation send you on a training course? Do they have a coaching or a mentoring programme you can participate in? Can you ask for flexible work hours or some extra vacation days? Are there any opportunities to shadow a colleague in a different team, or can you run your own project that is outside of your normal job remit? Your openness and willingness to negotiate and try new things may put you in a favourable place for a future pay rise or promotion. Conversely, you can develop some new skills that you can take to an entirely new job somewhere else if you don’t feel supported.
So get out there and give it a go!
Further resources:
Harvard Business Review: https://hbr.org/2021/12/dont-ask-for-a-raise-negotiate-it
Harvard Law School: https://www.pon.harvard.edu/daily/salary-negotiations/how-to-ask-for-a-salary-increase/
The Guardian: https://www.theguardian.com/money/2022/jul/04/how-to-ask-for-a-pay-rise-and-make-sure-you-get-it
Hays: https://www.hays.co.uk/career-advice/article/build-your-payrise-case
The Cut: https://www.thecut.com/article/how-to-ask-for-a-raise.html