Pay Rise Guide
Over my career many colleagues have come to me to discuss salaries and pay rises.
Below is my guide to get the best results when negotiating a pay rise:
1. Time your discussion to start 1 month before a work anniversary or end of financial year.
2. Give your manager 24 to 48 hours notice you want to discuss pay (avoid high stress times).
3. Do your research! Use payscale.com or glassdoor.com.au to figure out how much you are worth.
4. Set a minimum increase (in dollars) you will accept.
5. Always communicate your desired pay rise in terms of dollars, not percentages.
6. Negotiate 'perks' as well as dollars, especially if you get an offer on the low end of your acceptable range.
7. Your initial request should be at least double your minimum acceptable amount.
8. Forget about what your colleagues in similar roles are getting, this is about you!
9. Prepare a business case but don't submit it unless asked. Ask for specifics that they want to see in the case.
10. Understand the companies perspective when it comes to available funds (facts only).
11. Formally document pay rise requests after speaking to your manager.
12. Be Prepared to Walk if you don't get your minimum (back your ability).