Thursday, 25 November 2021

Asking for a pay rise at work

Without a doubt, money worries are one of the greatest causes of anxiety, stress, depression and other mental health issues. A study undertaken by the Royal College of Psychiatrists showed that “one in four people with a mental health problem is also in debt”. Struggling to pay the rent or mortgage or keeping up with the household bills can be a huge burden, especially for the elderly or adults with children to provide for. If you are constantly trying to make ends meet, over time you could start to experience both physical and mental symptoms of stress such as:

  • Anxiety
  • Poor sleep
  • Helplessness
  • Headaches or stomach problems
  • Lack of energy and motivation
  • Bouts of crying

All of this will not only make you feel physically and mentally unwell, but it can also affect you working to the best of your ability. You might even find it’s putting a strain on relationships with your family and friends.

If you’re employed, a pay rise might help you to resolve some of your immediate money worries. Although you might feel nervous about asking your manager for a pay rise, imagine how much weight it would take off your shoulders if they were to say yes! So, it’s definitely worth plucking up the courage to ask for a raise.

How to ask for a pay rise

If you want to start earning the salary you feel you deserve, there are several ways to go about it to ensure you stand a better chance.

1. Choose your timing well. If the company has just made redundancies for example, it might be an idea to wait a while.

2. Demonstrate your value. Gather as much evidence as you can that will prove your worth. Have you increased sales? Have you brought new clients on board? Have you taken on additional responsibilities? Also, let your boss know what you intend to achieve with the company in the future so they feel reassured that you won’t start resting on your laurels once you receive a raise.

3. Research your worth. It’s a good idea to do some prior research about how much professionals in the same industry and similar job roles earn.

4. Have a precise figure in mind. Don’t mention another colleague’s salary as this can be frowned upon. You might also want to request a figure slightly higher than what you’d really like, just so there’s some room for negotiation.

5. Prepare and practice the conversation beforehand, and try not to be apologetic when you ask for your pay rise.

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