How To Land A Pay Raise (This Year)

Since I left university in the year 2000 I’ve managed to increase my salary by 235%.

Added to that I also have a number of small side hustles that have inflated that figure even further.

While I’m sure there are a lot of people who have done better, I also know an awful lot of people who seem to be stuck in a low-paying job, with no idea how they’ll manage to increase their income in the near future.

Fortunately, during that time I’ve learned a few tips.

I’ve found a number of strategies that have worked for me, and just as importantly – as someone who decides on other peoples salaries I’ve also seen the other side of the situation.

If you want to land a pay raise this year then here’s what I’d do…

The Secret to Landing A Pay Raise

While some people get lucky, and land a new job paying twice their old one, the reality is that most pay raises are slow, gradual creeps in salary. Bit by bit, it inches ever upwards as you become established in your chosen career.

The golden rule, however, is that the more value you offer to an employer, the more money they’re likely willing to pay you. That is to say that the more experienced, the more qualified and the more productive you are, the more you’re worth to any employer.

Finding ways to add value to yourself as an employee is the single most effective strategy I have found for increasing your salary progressively over time.

Here are some tips to do just that…

Become Invaluable

What would it take to be a truly awesome employee (in the eyes of your boss)? Consider what would make their life easier. Could you turn up earlier or leave later? Could you take on extra responsibilities? Just as importantly, can you become that “yes” person that they know they can rely on?

The more valuable and useful you become to your boss, the greater the odds of landing a pay raise.

Speaking as someone managing a team, I can tell you that there are certain individuals that I try to reward whenever I can.

Every time we have an annual review, I’m gunning for them. I want to reward them. I want them to earn more and feel appreciated.

But the people who ring in sick all the time, turn up late and need to be constantly pushed? Not so much…

Become that person your boss relies on, and you’ll greatly increase your odds of pay raises in the near future.

Become More Employable

What training courses, certifications or skills could you realistically adopt?

Is there a new piece of software in your office that you can become a pro at?

Can you learn to do something to save your boss/department time and/or money?

Anything you can do to make yourself more “employable” – basically more skilled and qualified – the better your odds of getting paid more.

Even better, should your current employer not reward those extra strides you’re making, there’s a fair chance that another company might offer you the salary you deserve.

Look For Opportunities

Of course, you don’t necessarily have to stay in your current role to land a pay raise. You may also find there are other opportunities with your employer – or even the chance to create your own job.

You might be surprised to hear just how many people I know who started off in one job and, thanks to consistent effort and training, slowly morphed their position into something totally different.

So keep your eyes open to new opportunities, and be prepared to position yourself as the perfect candidate for such a role.

Make It Automatic

While some employers might not give you a pay raise for years on end, others provide them almost by default. I worked at a company some years ago that gave me $1500 a year more every time I had completed another year of service. When you’ve been there for 5 years that starts to add up pretty quickly!

So ask around. Find out if your current employer – or any potential new employer – offers such an incentive scheme. When you land such a position, your pay raises come on autopilot.

Prepare To Jump Ship

Its a sad state of affairs, but not all bosses want to help you grow and develop as a person. Just as many people seem trapped with a certain boss in a certain company, never receiving the pay raises they deserve.

Don’t be that person.

While moving to a new company might be uncomfortable at first (there’s a lot to be said for the comfort of working for a company you know well) if you’re serious about increasing your salary then moving from one company to another might be the best option. Some of my very best pay raises have come from jumping ship to a new company, even if I’m essentially doing the same job as before!

Validate It!

Why do you think you deserve a pay raise? Too many people seem to think they deserve to earn more without actually contributing any more than the year before. Generally speaking, though, that’s not how things work.

So put some time into considering why you’re worth more than before.

Have you taken on additional responsibilities?

Have you proven your worth through a difficult time at work?

Have you spear-headed a successful new project?

Many bosses are busy people. They might forget all the good you’ve done in the last few years, considering only recent weeks when pay discussions arise. So be prepared at your review to sell yourself all over again and lay out why you think you deserve a pay raise. The more convincing the argument, the greater your odds of success.

Change Careers

It’s a reality that some jobs simply pay more than others. Here in the UK, for example, jobs with animals pay next to nothing. Vet nurses, zoo keepers, pet shop managers, kennel workers and so on. If animals are your passion (as they are for me) I fully understand why you might have chosen such a career.

But the sad fact is that you’re unlikely to ever earn much money this way. No matter how good you are, there’ll always be someone willing to do the job for less.

Under such circumstances it may be necessary to consider changing careers altogether. And while it might not be easy, it’s certainly possible.

I shifted from an animal-related career to one in retail management. From here I shifted across to general business management and then into marketing consultancy. I’ve changed careers a number of times, in each situation managing to earn more than the last.

A great tip here is to look at some of the websites listing hundreds of jobs. Enter a local town and set the minimum salary to what you’d like to be earning – then go digging. Look for patterns. Which jobs seem to keep on paying generous salaries? Of these, which would you genuinely enjoy doing?

By spending a little time each week keeping an eye on the current job market you’ll be able to start figuring out exactly what industry might suit you best, and how you might manage to land such a job in time.

Volunteer

If you’re currently working in one industry but are keen to enter another, you’ll need another plan. Jumping from, for example, working in a shop to working for a charity can be very difficult to do, as most employers favour people with experience in their own industry.

A useful way in, however, can be to volunteer your time. In doing so you’ll benefit from three unique elements:

You’ll get to build experience in the industry, learning the ropes and getting to know other people

You’ll be able to demonstrate your passion for the new role. We all love people with passion, so being willing to give up your free time to do something meaningful can be a powerful tool.

You’ll have a long job interview. In other words, if you spend months or even years volunteering with a place you’d like to work at, when an opportunity arises the team will already know you and like you (if you’ve done a great job).

This immediately puts you head-and-shoulders above most of the competition.

Don’t Be Afraid To Ask!

Let’s be honest here; while it would be nice if bosses rewarded hard-working employees with pay raises, it often doesn’t happen.

The final point, therefore, is having the guts to be willing to politely ask for a pay raise. Gather your evidence to prove why you’re worth more than you’re being paid right now, then lay out a logical argument to your boss. The results might just surprise you!