How I Got a £35,000 PAY RISE At Work (How to Ask For a Raise)

hey guys the quickest way to get yourself a pay rise of more than 10 000 pounds or more is to leave your job right now and go and get another one now this might sound a bit radical you're thinking to yourself ah really well let me explain why the reason is the quickest or possibly the most efficient way to get that super high pay rise is because it works for everybody or almost everybody the recruiter who might get your new job is literally doing this because of course the commission they get is tied to your new larger salary your new employer will be happy because they get themselves a shiny new employee who comes in much more experienced and with much better skills hopefully you are happy of course because no one knew your previous salary before so you can afford to ask for 10 000 20 000 or more and then finally your current employer well they probably didn't like you that much anyway so as soon as you leave they'll go and get themselves somebody else as a replacement and probably send you some raises in the post to say hey it was nice getting to know you some of you watching right now who say oh ken but what a loyalty what if i love my employer you love your employer your employer loves you and this is the exact reason why i'm making today's video so for today's video i want to share how i got a 35 000 pounds pay rise in my job step one is to recognize the game being played now most people i come across who ask for a pay rise either do one of two things they either one do not ask at all for pay rise and the second group when they do ask almost ask as though they are begging please can i have another 2k pay rise or a two percent pay raise almost as though their employer is doing them a favor by giving them a pay rise people like that have been conditioned to think in that way however there's an altogether different game that you should be playing when it comes to your work and seeking your pay rise and that game is the game of negotiating everything that happens at your place at work is really only a game show it's a game of the people who ask and the people who do not ask and the people who ask eventually win that game and the people who don't ask actually lose that game and in order to prepare yourself to play the game of negotiating really well i'd highly recommend one book and that one book is the book called getting to a yes and one reason why i'm recommending this book is because this book teaches us to create win win agreements okay this is the strategy we're going to use in order to help you get that significant pay raise all right so step two is to use objective criteria i'm talking about going to get some data so what i'd recommend you do straight away if you were looking to do this or plan for it is to go and have meetings with two or three different recruiters i'm talking about recruiters from different recruitment companies here and when you have that meeting with them the first thing you want to ask or try to figure out is the current state of the market the niche you're in the industry you're in you're in what exactly is going on from a recruitment perspective the second thing you want to try and establish is to ask them for the latest salary data ie the reports that get printed every single year i personally think those reports are a bit of a scam because every single year those reports just go up because effectively they help to pay recruiters salaries so it's in their best interest for them to print those reports every every year but hey that's a whole different debate the third thing you want to figure out from this conversation is based on those individual conversations you've had you want to then you want to then pitch your tent and decide on what you think you deserve to be paid based on your skills experience and abilities alright so step three is to build your case to build your case what i'm talking about here is to build your case for what you're going to be asking in the future okay because if you're asking for a pay rise right now then in my personal opinion you should have spent the last six months actually building the case for the moment you get to ask for it up on this screen is a simple document i'd love you to replicate okay you see on there i've got three columns column one says my responsibilities that's you what are your responsibilities in your job literally itemize them one at a time the second column is my bosses responsibilities so think about your boss and what they do exactly what projects are they looking after what what errors do they have responsibilities over i'd love you to just write down what you see those things being and the third column i've called there my opportunity in that column of my opportunity i'd love it to look at your boss's job and look at your job and find where the gaps are i'd love it to then fill that in in the third column because in that third column where you've got those gaps where you've got those opportunities for what separates your boss from you therein lies your bumper paycheck and what we're gonna do with this document is that down the line i'm gonna cover this in a bit more detail is you are gonna have a meeting with your boss and in that meeting the tone you're going to take is that you are cr you've created this document as a way of taking away more stress from your boss you in effect want to do more of your boss's job to take more initiative to take more responsibility before you go into the meeting we're going to get to the meeting in a minute is to take all the information in the third column and use that to create a simple one-pager document this will over time as soon as we activate this plan give your employer time to consider uh consider you and consider your outcomes as well as consider a budget for what will become the pay rise that they'll give you in six months the next thing i'd love for you to do as part of step three is to actually decide on what you're going to ask for okay so it's actually quite rubbish to go up to your boss and say hey i'd like a pay rise please yeah what you want to do is come up with a number and then in addition to that number come up with a bunch of options so in my case this is what i did you know not the exact numbers but i'm giving you an idea of how you can also do the same so first is to say what's my option a so you could say for example option a is i won 30 000 pounds additional income recurring so you want a 30k pay rise and obviously you want that to be paid to you every year option b if your employer arm wrestles you and pushes back on it could be i would like twenty thousand pound pay rise plus eight ten thousand pound one-off discretionary base okay because then like your implies like okay i could work with that potentially however if the arm wrestle again option c could be i'd love ten thousand pounds plus a study package i'd love to go and do a master's degree or you know an exec mba or whatever right depending on what you choose obviously make sure that it fits into the relevant budget for what you're asking for okay and option d if none of the above works out is for you to move on and jump ship now obviously these options that we're we're outlining here are options for you to keep in your back pocket okay so that if the sequence of events really kick off when you then have that meeting which you're going to talk about shortly you then know and have a negotiating position the next thing i'd love for you to do as part of step three is to go and read your contract understand what the key terms are your contracts and especially understand what your notice period is for your job and the final thing i'd love you to do is then print two copies of that one page of document i asked you to create based on the third column you want those two copies to prepare you for the meeting with your boss right step four this is where you set the first stage okay this is really the road map meeting what we're doing with this meeting that you're gonna have with your boss is to establish a connection between effort and reward and the tone that i'd recommend you have in this meeting is one where you are focusing your conversation around who you are becoming so if i had to split it by percentage i'd say in this conversation you want to spend around 60 percent of your time talking about who you are becoming the responsibilities you're taking on how you're going to be taking stress away from your boss and for the remaining 40 you want to take use that time to assess your work situation over the last three months or so what you want to communicate effectively here is that you are showing initiative you then want to say to your boss ah okay with all this responsibility i've looked at a few reports in our industry and stuff like that and look boss you know you've got to be really upfront but i'm currently underpaid in my role at the moment let alone for the responsibility i'm going to be taking on and so my proposal is that if i achieve these very specific outcomes option a i deliver this project option b i do this option c if i deliver on these three core things i propose because it's going to add a lot of value to our organization i propose a 30 000 pound pay rise to my current salary please do not make the mistake of using a percentage don't say i want a 25 pay rise no use a monetary amount like 30k or 40k or 20k or 10k or whatever it is you want to choose and then back that up with the data from the time you spoke to those recruiters we spoke to earlier as well as the industry reports that you've been spending some time looking at and then the final piece and this is one that a lot of people actually miss out on as an opportunity because remember our ethos here is to ask and ask and keep asking the final piece is to ask for when that paid additional pay packet will become effective okay because the employer naturally has a way of pushing that date down the line you're like oh yeah yeah yeah push it down the line but what you should do is negotiate that right now in this meeting at this step what you want you want to be asking is can i please have a situation where if in six months i achieve those very clear goals and measurable goals can we please have a situation whereby the effective date of this additional bumper packet i'm getting will be back dated by three months such that it comes halfway between north and six months now you might get pushback but you might get you know what actually let's make it back dating two months or back dates in one month but at least you asked and you got something out of it and the worst case scenario is that you don't get anything at all we set the second stage i call this the evidence as if i've had situations where i've had these conversations and the managers i've spoken to have suddenly had amnesia they've suddenly just forgotten that hey hey we had this conversation did we oh i can't seem to remember the details i i just i just there's a faint memory i've got i've forgotten about it so what we want to do is set the second stage which is to document the evidence as soon as you finish that meeting thank your boss head over to your laptop don't even go to the bathroom go to your laptop and type up a summary of what you've just spoken about and in that summary write it in detailed bullet points and when you send that summary in detail including the agreed amount whatever it is you negotiated email it to your boss and bcc your private email address facts evidence will take you places the next step is to work hard over those next six months and agree weekly goals so what i would do this is what i used to do is every week on a monday you'd start with a light team meeting hey how are you doing what are our priorities this week yeah and you just talk about it five minutes that's all you need ten minutes or whatever right come friday of the same week you'd email your boss and say hey hi john hi you know betty whoever it is here is what happened this week here's what i've achieved be results driven take out all the fluff and faff just literally get straight to the point this week we've achieved this here's what i expect will happen next week so you're building anticipation for what's to come next week now why does this email matter first it's evidence of what's happening because each one of your emails over those six months so four times six about 24 weeks each one of those 24 emails should really be accounting for two things one is accountability and the second is feedback that hey we are gradually working towards achieving that outcome that we discussed in the meeting previously six months is a long time right in addition to working hard i highly recommend please go and build more relationships with more recruiters do not ever under any circumstance put all your eggs into one basket don't have a conversation and in that time you're getting to know them you're figuring out what sort of jobs are out there all sort of pay packets are out there what on offer you might even go to like a few you know one or two random interviews just kind of like see you know sharpen your skills and kind of see if you've still got it and all that kind of stuff so you're not accepting any offers but you're out there kind of like you know dating other employees you have to put it that way you still want to keep to what you've discussed with your employer and actually go and play that out why are we doing this other stuff we are creating and writing ourselves an option and we're doing that because options have value okay because the worst case scenario after doing all this work for six months your employee turns around and goes do you know what i'm really sorry you're not quite what we're looking for it's not working out there's no budget or like the budget's changed awesome rubbish and then the final step in this journey is to set the third stage i call this the pay rise conversation now in the previous meeting where you had that meeting six months ago to talk about it i forgot to say that my suggestion is that when you have that meeting please have that meeting in the morning ideally between 9 00 a.m and 12 noon why because you want your boss to be super alert make them a cup of tea make them a coffee you want them listening and understanding what you are both agreeing to however when you come to have this last meeting the actual payrise meeting my personal suggestion is that you have the meeting after lunch yeah so like everyone's finished eating you know people are usually very happy once they've eaten [Laughter] once he or she comes into the office obviously pre-booked the meeting and all that get into diary get your slot get into the room offer them a cup of tea offer them you know a coffee whatever beverage they have and then sit down and have your conversation but before you do that make sure you get into that meeting with your list of results over the last six months in addition to that print out the original email remember that email i said to you that i called the evidence print out that original email and also take that with you to the meeting and then go into that meeting and then you know pray for the best hope that all goes well and if all goes well thumbs up he'd walk out of there like i did with 35k in additional pay packet and on top of that let's not forget you know the benefits not just a 35k in my case it was 35k plus pension because like you know pensions are based on gross salary and of course if you get a higher pay packet you get a higher pension contribution and so on so it's that snowball effect that happens when you get that additional pay packet so in your case i'd expect that by going through these stages like i've just outlined and orchestrated this over six months by not only asking but asking strategically you are bound to get the result now of course like all things there's always this situation where this doesn't quite work out and if it doesn't quite work out you've got two options you can either revisit have another conversation and review again or go back to the drawing board to my most efficient answer which is jump ship and go somewhere else after all if you believe in nothing yourself and your abilities and your talent and what you've you know you experience like not being funny like you know if your employer doesn't see it then somebody else will it really is only a game show and that's the truth if we're really being honest with ourselves guys i'd love to hear from you in the comments which part of my share today really resonated with you uh or you know jump in the comments and let me know what you have done in order to get yourself a significant pay rise jump in the comments and let's talk about it if you really enjoyed today's video i'd love for you to hit the like button or share this video with somebody else who you think might get a lot of value from watching today's video thank you guys so much for watching this video and as always in all things be thankful and seek joy take care and bye for now

Channel: The Humble Penny

Views: 3,883

Keywords: how to get a pay rise at work, how to get a pay rise uk, how to ask for a raise, how to negotiate your salary, how to ask for a pay raise, salary negotiation, how to ask for a raise at work, ask for a raise, how to negotiate, pay raise, how to ask for more money, how to negotiate a higher salary, salary increase, salary raise, how to negotiate salary, the humble penny, pay rise, how to get pay rise, humble penny, salary, pay, rise, uk, salary negotiation strategies, work, money

Id: xQpIfi4kZJs

Length: 18min 17sec (1097 seconds)

Published: Tue Jun 21 2022