A pay rise from your current employer is often the fastest route to a meaningful income increase. Unlike side income, it requires no extra hours and compounds into your pension, holiday pay and future raises.
When to ask
The best times are after a significant achievement, during a performance review, when you take on additional responsibilities, or when market rates for your role have risen above your current pay. Avoid asking during difficult periods for the business.
What to prepare
- A list of your achievements and responsibilities since your last review or raise
- Market data for comparable roles — use Glassdoor, LinkedIn Salary or Reed
- A clear number you are asking for, not a range
- A brief answer to what the business gets by keeping you motivated and retained
How to have the conversation
Book a meeting specifically for this rather than raising it casually. Be direct: say you would like to discuss your salary. Present your case clearly. Give your manager time to think and respond — do not expect an answer in the same meeting.
What to do if they say no
Ask what you would need to achieve to get a pay rise and by when. Get a specific answer. If the answer is vague or repeatedly deferred, that is useful information about whether this employer is the right place to grow.
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Ask Fin provides general guidance only. Employment and tax situations vary. Verify financial decisions with a qualified adviser.