Pay raise tips

Pay raise tips to negotiate a higher salary increase in 2020. Asking for a pay raise can be rewarding, if done correctly.

  • There is no standard method for securing a pay raise. These pay raise tips cover how to negotiate or ask for a pay raise. In addition to negotiating a job promotion.
  • Successfully negotiating your pay raise results in $100,000s over the course of your career.

Pay raise tips to successfully negotiate a salary increase in 2020

  • Always evaluate the risk factors.
  • You can ask for a pay raise at any time of the year. But the best times to ask are;
    • after the company announces good financial results
    • before next year’s budget
    • after you have secured another job with a competitor
    • or after you have successfully completed a major project
  • Sometimes, if you don’t ask for a pay rise, you don’t get one.
  • Evaluate what you are worth in the market place through job ads and associations. Use this as a guide for how much to ask.
  • Make weekly notes of all your achievements. Also, note how the company and its clients have benefited. This is one of the best justifications for negotiating a pay raise.
  • If you haven’t received a pay raise recently, your boss is probably expecting you to ask for one.
  • A pay raise can be in the form of salary packaging. It can be a company car, laptop, insurance, cell phone … etc. Discuss all salary options that appeal to you with your employer.
  • Through the hidden job market, if a company finds the right candidate, they hire that person. As you would be the only candidate, you can negotiate a higher starting salary.

More salary increase tips

  • If you are not successful in getting a pay raise, don’t make emotional moves.
  • If your pay raise request is not successful, ask your boss what will qualify you for a raise. Also, ask what the time frame is. Follow up within the time frame. If he or she delays indefinitely, ask for a new time frame and follow up within the time frame.
  • Whatever approach you choose to secure your next pay raise, negotiate in person. If it is not possible to meet in person, then negotiate on the phone.
  • If you are expecting a 10% pay raise, you should ask for 19%. And then negotiate with your employer.
  • If it will be hard to replace you, you can negotiate a high pay rise.
  • Many companies review everyone’s salary on a yearly basis. So ask for more than the standard pay raise, if you deserve it.
  • If you deserve a pay raise, ask for it, even if your boss says the economy is bad. Don’t give up, even if they are not giving anyone else a pay raise.
  • If you are confident that you deserve a pay raise, be persistent. But be reasonable and professional. Do not push your boss into making a quick decision about your pay raise.
  • When you are successful in getting a pay raise, thank your boss. Thank your boss in person or via email.

What to avoid when you negotiate a pay raise

  • Avoid writing a salary increase letter, unless you have to. A face to face discussion or a phone discussion are the best methods to discuss a pay raise. While some write a pay raise request letter, we recommend you ask for a meeting with your boss.
  • Sometimes, to justify why you deserve the pay raise, you may be asked to write a salary increase letter. Also see counter offer letter
  • Even if your boss is in a different location, it is better to wait until they come back. So you can discuss in a person. instead of writing a pay raise request letter. Even if you have to call your boss, it is better than writing a pay raise request letter.
  • If your performance is weak, delay asking for a pay rise. And don’t be persistent, until the factors improve.

Let me work with you before your next performance review to negotiate your next pay raise. Call me on +61 417 063 668

We’ll add online salary negotiation coaching and sample salary increase letter. In addition to accepting a new job offer and salary packaging negotiation.

ASK US if you have questions about the above pay raise tips. Also, if you need assistance to negotiate your next pay raise. Also call me on +61 417 063 668.

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Also see my salary negotiation coaching

KMD-Solutions is based in Sydney, NSW, Australia

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