Confidence coach, executive coach and coach with the IMAGE Business Club Sarah Doyle breaks down how to prepare to ask for a pay rise before you approach your boss.
Elevate Your Value
The first step is to elevate your value. This involves taking a good look at your current skills, accomplishments, and contributions in your role. Start by listing your major achievements and how they have benefited your company. Have you completed significant projects, increased efficiency, or contributed to revenue growth? Clearly documenting these contributions helps you see your worth and prepares you to present a strong case to your employer.
Leverage Your Skills
Next, leverage your skills. Identify any gaps in your skills and knowledge that might be holding you back from getting the pay raise you deserve. Create a plan to enhance these skills through additional training, workshops, or certifications. Building a portfolio that showcases your achievements and newly acquired skills will strengthen your case.
Evaluate Market Standards
To make a compelling case, you need to evaluate market standards and research industry benchmarks and salary standards for your role and experience level. Understanding these standards will help you set a realistic and competitive salary expectation. It also shows your employer that your request is grounded in industry reality, not just fantasy.
Vocalize Your Worth
Once you have gathered all the necessary information, it’s time to vocalize your worth. Prepare a compelling case that highlights your achievements, the additional skills you have developed, and how your contributions have positively impacted the company. Be clear and concise in your communication.
Advocate For Your Value
During the conversation, you need to advocate for your value. Learn negotiation tactics and techniques to discuss your pay raise confidently and address any counterarguments. Anticipate possible objections your employer might have, such as, “we have budget constraints” or “now is not the right time”, and practice these conversations with a trusted friend or coach. Be ready to discuss your future goals and how you plan to continue contributing to the company’s success.
In addition to this, be prepared to show your flexibility by proposing alternative forms of compensation. If a salary increase isn’t possible, suggest other benefits such as professional development opportunities or more flexible working hours. For example, “if a salary adjustment isn’t feasible right now, could we discuss the possibility of additional professional development funding or a flexible work schedule?”
Time It Right
Timing is crucial when asking for a pay raise, so it’s important to time it right. Consider factors like the company’s performance, recent achievements, and budget cycles. Request a meeting during a period of positive company performance or after you have completed a significant project successfully. Avoid times of financial difficulty for the company or when your manager is particularly stressed or busy. Aligning your request with favourable conditions increases the likelihood of a positive response.
Execute Your Plan With Confidence
Develop a step-by-step plan to execute your pay rise request. Start by setting up a meeting with your manager specifically to discuss your salary. Draft a formal proposal that outlines your case, supported by your research and achievements. Be prepared for potential negotiations, know your minimum acceptable increase and be open to discussion. Building your confidence through preparation will help you present your case calmly and assertively.
Sarah Doyle, Confidence Coach and Executive Coach
Sarah is a coach for the IMAGE Business Club and a well-known and respected TEDx speaker, executive and confidence coach with over 10 years of experience and a speaker with She Speaks Agency, Ireland’s first female speaking agency. Sarah’s stand-out coaching business provides support to thousands of women every year. Through private coaching, workshops and speaking Sarah has spent the past decade coaching, teaching, and motivating people to live their most confident and self-compassionate lives. Her practical, unique and humorous advice and coaching strategies provide real results and skills that help people push through the everyday challenges we all face in work and in life.
Struggling with imposter syndrome? Sarah Doyle works with women to silence their inner critic and boost their self-belief. Over the last ten years, she has coached thousands of women to shift their lives using best life coaching practices, positive psychology tools and evidence-based strategies.
As a coach for the IMAGE Business Club, Sarah will help you in a 1:1 session to get out of your own way and chase your dreams. With her guidance, support, and a hefty dose of humour, Sarah will help you kick your inner critic to the curb and unleash your full potential.
Not a member? Time to join the IMAGE Business Club.
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