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Asking for a pay rise is one of those things that most people really want to do. However, most people are either afraid to take the bull by the horns and ask or if they do ask are so ill prepared that they end up blowing their opportunity and completely demoralising themselves in the process.

You should give as much thought to asking for a pay rise as you would to preparing a presentation for a really important client, it’s all about research, strategy, timing, delivery and negotiation.

We are all fascinated by programmes like ‘Dragon’s Den’ and ‘The Apprentice” and have our own views on how someone should have pitched themselves; why weren’t they better prepared and ‘if it was me I’d have done it differently’. Asking for a pay rise is no different, in fact you already have an edge; you know your boss, what makes him/her tick, what is the best time of day to catch them in a good mood and in most cases the best ways to negotiate with them.

As with any negotiating strategy you need to have a sound rationale behind your request and consequently be well prepared.

So go and gather some reliable information on how much a similar job is paid within a competitor’s organisation or within your industry as a whole. Make sure that you match your own skills closely to ensure the best fit as this will strengthen your argument. You can obtain market salary information from the Internet using major job sites and salary comparison portals. Also look closer to home within your own company there may be a colleague that is doing the same job as you but is on a higher salary.

Once you have gathered all of the market information on similar roles, list all of the skills that you have which benefit the organisation especially those that set you apart from others, you’ve heard about USP’s ( Unique Selling Points) – decide what yours are. Make sure that you can recite what you have achieved, how you have performed in your current role and most importantly remember to highlight what you intend to do in your role for the future. Think through your pitch carefully and look for any holes in your argument, be ready for any questions that your boss may have, you know your own areas of weakness-do they? Don’t forget you are asking your boss to invest in you and what you have to offer your company for the future, show them that they are going to get a good return on investment.

If you are well prepared and choose your moment carefully you will also be confident and assured and this will emanate from you in your delivery. Negotiation is always about compromise; make sure that you pitch yourself at the right monetary level to ensure that if you have to give some slack (and you will) that you end up with the pay rise that you were really looking for.

Bear in mind that most companies and managers prefer to give a pay rise than lose their best employees; that said if you don’t pull it off for whatever reason don’t be despondent. Seek feedback and focus on the reasons why a pay rise has eluded you this time, be clear on company expectations, retreat and plan for your next pay rise opportunity. Tomorrow is another day!

Kerry Gibson

Bounce Career Coach

www.lifebounce.co.uk