Everyday Loans for Everyday Life



Asking for a pay rise: Two tips for success

More money for the hours you work – sounds great! Many of us come to the time in our working lives where we need to request a pay rise. It is, to say the least, a daunting proposition; what if I get told no and what do I do if I look bad for asking?

The fact is that whatever your organisation and industry, you will have an HR department that handles these requests regularly. You are more protected than you might think when requesting such a thing and it’s more of a part of management life for your line manager than you would think.

For most of us, it comes down to nerves and self-confidence. Particularly at crunch times throughout the year, it’s common to take on more work than you usually do. It’s also common for our roles to ‘expand’ over time, with many employees finding themselves responsible for much more two years down the line than they were at the start.

Without further ado, here are a few key things from the Everyday Loans team to bear in mind when asking for a pay rise.

Timing is everything

While it’s true that a pay rise is a perfectly fair request to make, there are considerations in timing that will help increase your chances of success. These come down to two key areas: choosing the right time following some great work and choosing the right time for your request to be processed.

Many make the mistake of requesting a raise during a quiet period. You can imagine why; there’s less going on so it’s an ideal time to slip in the conversation, right? Wrong. While you shouldn’t blurt out to your boss in the middle of a hectic workday that you need more money, you should time your request to land just after you’ve excelled yourself.

It all comes down to your job description. If your department or team has been slammed recently with a new project or piece of work and you’ve led the charge in tackling it, the chances are that the great work you’ve done is beyond your actual job description in time or task. Clearly write down what you did, how it benefited the company, and how you went above and beyond to do it.

Secondly, you’ll want to think about the time in the week. An interesting study pointed out that Wednesdays are ideal for most applications as it allows more time for midweek processing and is generally a period when your boss and HR team are most receptive to a request.

This great Forbes piece describes timing in further detail.

Put yourself in the company’s shoes

It’s easy to think endlessly of yourself when you are putting together a request for a pay rise. It’s also a critical mistake to make! Instead of worrying endlessly about you and your needs, take a calming breath and swap your perspective to that of the company you work for.

How does raising your pay benefit them? If you know you’re an excellent worker who is more productive than the rest of your team, you have good grounds to ask; the company will want to keep you happy so that you stay with them. This applies doubly so for a department that generally has a high staff turnover.

You can also look at your common tasks and help your company by suggesting a revision of your job description. If you’re frequently helping your team (or another department) with a task that has proved vital, you can request a raise and suggest that you sit down with your boss and the HR department to rewrite your job description to include this new feature. This is a tremendous show of initiative and willingness to help the actual company and will reflect strongly on you.

Taking this mindset of truly serving your company proactively is something the majority of staff never truly do. Not only will you impress your boss by being clear on why you want a pay rise, you’ll also demonstrate intelligence and initiative above most other employees. This has the double benefit of improving the chances of a pay rise and improving your future in terms of promotion.

We can help

If you’re in a tight spot before payday and need a helping hand, come to Everyday Loans. We are proud to offer excellent finance options to those in need across the country. Visit our website today!

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Tim Woodley
Financial Content Editor at Everyday Loans
Tim Woodley has been a financial copywriter for over 8 years, using his experience and skill to draw out and discuss interesting financial subjects and learning points that help make life better. https://www.linkedin.com/in/tim-woodley-725267133/