Episode 198 - How To Ask For A Pay Rise

<p class="p1"><strong>Summary</strong></p> <p class="p2">It can be one of the most tricky conversations to have with your manager. This week we look at how to ask for a pay rise.</p> <p class="p3"> </p> <p class="p1"><strong>Transcript</strong></p> <p class="p2">Hello and welcome to episode 198 of the Leadership Today podcast where each week we share practical tips to improve your leadership. This week we look at how to ask for a pay rise.</p> <p class="p2">In a competitive job market it can be tempting to go for a job in another organisation in order to increase our pay. Often people find out that the grass isn’t greener and regret their decision to leave. It is worth at least asking whether a pay rise is possible before making a more drastic decision.</p> <p class="p2">It is important to recognise that what you are paid is based on a number of factors, including your industry, your organisation, your role, and your contribution within that role. Industries pay wildly different rates for the same roles. Generally speaking, the more profitable the industry, the higher the pay levels.<span class="Apple-converted-space"> </span> Organisations also vary in their pay practices. Some will pay higher than their competitors, and others will pay lower.</p> <p class="p2">People care about their pay compared to those in other organisations before they join an organisation. This is called external competitiveness - the extent to which an organisation is competitive against its peers. Once they’ve joined an organisation, people then really care about how their pay compares to others within the same organisation. This is called internal equity - the extent to which my pay is competitive against others doing similar roles within the organisation. You could find the largest pay increases are possible by changing organisation or industry. But work life isn’t just about pay.</p> <p class="p2">So let’s say you want to stay in the same organisation. How do you ask for a pay rise?</p> <ol class="ol1"> <li class="li2">Don’t get too c