BBC Breakfast News
How to ask for a pay rise
14th January 2011
MD of Personal Career Management Corinne Mills appeared as a guest on the BBC Breakfast News to discuss how you could tackle current challenges in the job market that seem to be acting as a barrier between you and your pay rise.
See below transcript taken from the live show:
Simon: It’s a tricky situation at the best of times, but particularly now, figures out suggest that most of us are not hopeful about securing a better wage settlement in 2011. Hardly surprising when this week we heard that the job rate is almost 8% which is 2 and a half million people out of work, let’s have a look at the figures. Well basically the report from the CIPD has found that less than 3 in 5 of us think we will get a pay rise next year, in fact about a third of us expect our pay will be frozen at its current level. Perhaps that’s because 44% of us have already seen our wages frozen in 2010 and that’s up 25% from just 2 years ago and that’s without inflation edging up with us. Now here with us is Corinne Mills who’s a careers coach at her own career coaching company. I can imagine my own boss’s reaction ‘are you kidding me in this austerity Britain?’
Corinne: Well look, I think timing is important, if you’re company that is struggling for survival then no, it probably isn’t a good time to ask for a pay rise, but not every company is doing badly, in fact some are doing very well and if they have just had a profit forecast and it’s just about to be the budget set for the next year, it could be very good timing to ask for a pay rise.
Simon: So, timing is very important but how do you make a case for it? What’s the argument? How do you go through the process and have that conversation?
Corinne: Well they’re not going to give you a pay rise just because they like you or just because you work hard so you have to give objective business reasons. So that might be the fact they have delayered the organisation-
Simon: What is that? It sounds like business speech for sacking people?
Corinne: It is, it is business speech for sacking people so you might be doing the work of two people instead, so actually they’re saving on two salaries by paying you one so there might be objective business reasons for giving you a little bit more, keeping you motivated and happy but still cheaper.
Simon: Will bosses listen to this argument? Basically, retail prices are going up by 4.7% every year, if i’m getting a pay freeze, essentially, I am getting a pay cut by nearly 5% each year, will they listen to that do you think?
Corinne: I mean yes, I think organisations should and if they don’t take heed of it they have a problem because people will leave and it is very costly to replace new people.
Simon: Is it a good idea to say that I am worth this or do you have to be realistic about what you’re worth or are you making yourself an irritance and a bit of an annoyance getting on your bosses nerves by being the squeaky wheel
Corinne: I mean of course I do think you need to know your value and worth, but of course you need to be realistic too so look at salary surverys, look in the market, what are people paying for those kind or roles then come and talk. Again, it is about asking, to often they fear about getting rejected, if they say no say well you know, what can I do to make it a yes?
Simon: If not now, maybe next time.
Corinne: Absolutely, if not now, when.
Simon: Alright Corinne, thanks very much indeed.
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