Employment expert explains how to ask your boss for a pay rise
The cost of living crisis means workers up and down the country are feeling the pinch as prices continue to rise.
Inflation is the measure of how much something has increased in price over time and currently sits at 10.1%.
Higher inflation means your money isn’t stretching as far as it used to, as prices are rising more quickly.
This is particularly a problem when inflation outstrips wage growth.
Annual growth in regular pay, which excludes bonuses, was 6.6% between December and February, the Office for National Statistics (ONS) said.
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However, when taking inflation into account, regular pay fell by 2.3%.
If you haven’t had a pay rise in a while, or you feel you’re being underpaid, you might be wondering how to approach your boss.
LinkedIn career expert Charlotte Davies shares her tips on how to ask for a pay rise.
Be prepared
Doing your research in advance will help you know your value and make you feel more assertive in your ask.
Review job adverts for similar roles to your level online and compare salaries.
Make note of how much people in identical roles to yours are being paid and relay this information to your boss.
Rehearse your case
Being self-assured in your skills and what you contribute to your company is key to negotiating pay.
Discuss your successes and what you are most proud of with friends, family, or other professional connections, to help you feel prepared before you approach your employer.
It is really important you get across your worth, as it will underline your argument for deserving a pay rise.
The LinkedIn Learning Blog has many useful articles which could help you with your preparation.
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Timing is everything
It’s a difficult time financially for many businesses, so be mindful of where your company currently stands and when is the right time to stand your case.
Read the room, but know that if you’re confident you’ve met your recent objectives and your performance is bringing benefits to the business, then it is still ok to put your point of view across.
Just make sure you are also sensitive to their current situation.
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