MONEY COMMENT
Ten Top Tips To Win A Pay Rise

By Cliff D'Arcy
December 22, 2003

I wonder how much Father Christmas earns? I imagine he's on a pretty good whack, given that he makes over a billion deliveries in just one night! Also, given that he has a monopoly on Christmas deliveries (among Christians, at least), he must be in a strong negotiating position when he makes his annual appearance in front of the SSRB (the Santa Salary Review Board)!

And, if Santa is as jolly and big-hearted as his public relations advisers have us believe, he should be fairly generous when it comes to dishing out the dosh to his helpers: elves, fairies, gnomes and so on. On the other hand, if Santa behaves like other corporate fat cats do, he may be lining the pockets of his red, furry suit at the expense of the 'little people'...

According to the latest survey from the Confederation of British Industry, pay rises in the manufacturing and services sectors averaged 3.2% in the three months to November, and roughly the same throughout 2003. Weak trading conditions and fierce price competition among firms are holding back private-sector pay settlements, but the high cost of living is putting pressure on pay increases.

Without further ado, here are ten tips to help you claim a larger share of the salary pot:

1. Don't wait and see what you're offered: ask, and make sure that you're asking at the right time! For example, the management will be feeling more optimistic - and receptive - after the completion of a particularly successful or lucrative project. Other obvious milestones include the New Year and the anniversary of your joining date. (On the other hand, there's little point in 'doing an Oliver Twist' and asking for more if budgets have just been slashed across the board!)
   
2. Do your research: find out how well your company is doing. There's little point in demanding a blockbuster pay rise if your employer has just recorded its biggest-ever loss. In this case, you may be thankful that you still have a job at all.
   
3. Make sure that you're winning over the right person. Although your personnel director may wield considerable power and influence, s/he may not know you very well. Aim to build a convincing case with your line manager or department head.
   
4. A little bit of homework can really pay dividends. Find out how much others in your industry position are paid (both inside and outside of your company). Check out your industry's leading recruitment websites (probably best done outside of work!) and job ads in the local and national Press.
   
5. Visit PayFinder, a free and anonymous service that allows you to benchmark your income against that of your peers.
   
6. Deal yourself the strongest possible hand by preparing a professional, carefully planned, written presentation. Justify your argument by listing all your finest achievements over the previous year, especially those that boosted your company's earnings, together with any other supporting evidence. If you've taken on any extra duties, volunteered to help with other projects, or gained relevant qualifications or important experience, make sure you mention these.
   
7. If you deal with clients, suppliers or industry contacts, now is the time to call in some favours! A good word or letter of praise from your contacts could really bolster your case.
   
8. Be careful when directly comparing yourself to others in your organisation ("I did all this, what did s/he do?"). What you may see as a simple point-by-point assessment, others may read as an attack on your rival(s). Be positive about your own achievements, but avoid criticising your colleagues.
   
9. Don't get too cocky or pushy, because you may damage your case. Blustering, bluffing and threatening to leave are also bad moves. Remember that double-digit pay rises these days are a rarity, except when accompanied by promotion. (Unless you're on the board of directors and vote for your own pay rise, of course!)
   
10. If you're into self-improvement books, try How to Get a Pay Rise, a Bonus, or Promotion, or Whatever It Is You Want by Ros Jay, ISBN: 0273654837.

More: How To Beat Rising Prices | Give Yourself A £2,500 Pay Rise Today.