As the cost of living crisis continues to leave families out of pocket thanks to real terms pay cuts, asking for a pay rise is not an uncommon practice. While average wages have been increasing, they haven’t been rising as fast as the cost of living, meaning many households may be struggling to get by.
Asking for a pay rise can be extremely stressful and anxiety inducing, and there’s no guarantee you’ll get one. However, Connor Campbell, business finance expert at NerdWallet has shared some tips on how to confidently ask for a pay rise to give you the best chance.
Time it right
“The key thing about successfully receiving a pay rise is ensuring that you request one at the right time. While there’s no time like the present for struggling employees, your chances of success will increase drastically if you wait for the perfect opportunity.
“First, you should ensure that the business you work for is doing well financially, meaning you’ll have the best chance of negotiating more pay.
“You should also plan the conversation in advance. You should be upfront and warn your line manager that you want to have a conversation about pay. This gives you and your manager time to prepare for the conversation which is likely to lead to a productive conversation.”
