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One of the most important conversations you will have in your professional career is the negotiation for a pay rise. It can be an intimidating experience, but if you handle yourself in a professional and calm manner, it is more likely a better outcome will arise. In this video I share with you my tips and tricks on how to ask for a pay raise.
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Hi guys, welcome back to Money Monday
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So one of the most important conversations you will ever have throughout your working
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professional career is a conversation with your boss about your salary and your
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desire for a pay rise. Now this can be one of the most intimidating, nerve-wracking conversations that you will ever
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have, but if you can learn how to handle yourself professionally and in a very calm manner
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you're more likely to get a better outcome. So this video is all about how to ask for a pay rise
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Now the key to asking for a pay rise is to handle yourself very professionally. You need to be
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calm, you need to be factual and you need to leave emotions at the door. You want to make sure that
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you're being taken seriously, that your employer can see the value that you add to the business
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and that you are fairly remunerated. Step one is to show your
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value. So this means going away and gathering as much information as possible about what you do
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for the business, how you help the business grow and achieve its own goals. You need to be
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collecting things like customer service feedback, any sales figures, any improvements in sales
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figures you know hours that you putting in all the intangible values that you adding to the business whether it be you know managing more staff or working longer hours or Taking on additional projects for no extra pay These are things you need to be able to display in a very calm factual manner
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So that your employer can see that you're a serious asset to the business and they need to keep you happy in the workforce and they need to keep you committed to the business's growth
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The second step is to do your homework find out what the market is paying find out what other people are getting paid for for the same level experience the same experience the same
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same level of education or training and in similar locations. This will help you understand
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where you sit in the industry, what you're worth, and also I recommend printing out the job
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advertisements so that if you need to, you can refer to them when you do talk to your boss and
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ask for that pay rise. But don't show it immediately. Keep that card up your sleeve and only
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use it if you need to. Step three is to practice. Grab a family member or a friend and sit down
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and practice this conversation where you ask for the pay rise and show your
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fair points as to why you're entitled to a pay rise. Keep practicing until you feel 100% confident
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and empowered to embark on this conversation with your boss. Listen for feedback from your friend so that
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make sure that you are coming across with very strong points and that you are being reasonable
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and fair as to what you're asking for. Step four is schedule time. Send an email to your boss or give
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them a call saying I just like to organize 20 minutes of your time at a time and day that suits you to talk about my job Whatever you do do not try and catch them off guard or when you know that they on an important deadline or in the middle of a huge project with a lot of stress on their shoulders
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It's just going to irritate them and start the meeting off on a bad note. Ideally, you want to meet face to face, but sometimes this isn't possible
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And if you find that your boss is constantly, you know, rescheduling on you or coming up with
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excuses as to why you can't sit down and have this meeting, you can then go ahead and put your
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argument through or your conversation through in an email. The next step is leave emotions at the door
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You want to come across incredibly calm, confident and professional. You want to be able to leave that room with your head up high, knowing that you handled
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yourself perfectly. Do not make any threats to leave or make unfair comparisons between different staff members
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Be calm, factual and confident. And whatever you do, do not make the pay rise about your personal financial situation
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Do not go in there and ask for a pay rise and say that you need a pay rise because you can't possibly maintain your lifestyle
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You will come across incredibly unprofessional. And to be perfectly honest, I hardly doubt most bosses really care about how you spend your salary
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The final step is to take all negative feedback constructively. Make some notes after the meeting
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Get an understanding of where you can improve yourself professionally and personally. And also ask your boss whether you can have this conversation at a later stage so that the idea of a pay rise is not taken completely off the table Also ask your boss for KPIs really specific one so you understand
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where you can excel, where you can grow and where you can increase your experience and training
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Asking for a pay rise is never an easy conversation, but it's an important one you need to learn
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how to handle and master because there are going to be plenty of these types of conversations
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in your working career. And the better you are and the more prepared you are and the better you
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handle yourself, the more likely you are to have a more positive outcome. And then my final tip is, if you come through with a successful pay rise
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make sure you use that increase in your salary to do some powerful things for yourself financially
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whether it be saving more, investing more, putting away more money for your retirement
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even maybe giving more money to charity. Don't fall into the trap of every time you get a pay rise, your lifestyle goes up with a pay rise
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because you will always be on this rat race where you always feel like you never earn enough
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Anyway, that's it for this video. As always, I hope this helps and I love hearing your feedback and any other video suggestions
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that you may have. I will see you next week on Money Monday or Lifestyle Love and if you haven't already, please
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make sure you subscribe to this channel and feel free to share this video with any family
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or friends that you think might benefit. I'll catch you next week
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Ciao for now. Bye
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