Lily Shippen Recruitment Agency | How to negotiate a pay rise

With a lot of companies announcing bonuses at this time of year, especially within Financial Services, it’s also a good time to approach the dreaded conversation of a pay rise. We spoke to several Personal Assistants’ and Team Assistants’ in London and Manchester and a large proportion of them said that they would feel uncomfortable approaching their boss about a pay rise and would be more inclined to look at what else is out there in the market and potentially get another offer elsewhere before having the conversation. Whilst it’s good to research your market value, a lot of your time can be wasted in searching for alternative roles and your boss will respect you so much more if you’re open and honest. So if you love your job and it’s just a case of needing some extra money, take our advice and book a meeting with your boss.

Pick your time

Like most things in life, timing is everything. Give your boss the heads up that you would like to have a meeting to discuss your salary and book a time in their diary when they have an open slot for at least 30 minutes. Giving them the heads up will allow them to think about budgets and possible increase in salary prior to the meeting and you won’t catch them off guard.

Do your research

Find out what the baseline salary is for your job and what people get paid at other companies. You can easily do this by looking at similar roles on job boards such as Secs In The City or speaking to your recruiter who placed you.

Be realistic

Studies show that the average increase for a pay rise for a secretarial candidate in London or Manchester is between £1000 – £3000 per annum. Be sure to be ambitious with your target but also credible. We would advise asking for more than your target, but within reason. The likelihood is that your employer will negotiate.

Establish your walking away point

Think hard about whether the pay increase is the only thing that will keep you satisfied or whether you are actually ready for a new challenge. Studies show that candidates who started their job search and were counter-offered by their current employer to stay, commence their job search again within a year.

Present your case

When you are in the meeting with your boss, you will want to present your case for a pay rise in the best possible light. Rather than simply demanding a figure, remind them of all the things you have brought to the business in the last 6-12 months and what are your targets are for the next 12 months.

Good luck!