Hitting your boss up for a pay rise is never easy, even for the most confident and high performing people.
But it’s an important skill to have and the better you get at it, the better off you’ll be.
According to analysis by job site Salary.com, avoiding the conversation can cost you as much as a million bucks over the course of your career.
So there is a pretty sweet payoff to be had, just by sitting through a slightly awkward, sweaty palmed chat every year or two.
Here are three steps to help get your next pay discussion right.
Book it in
This absolutely must be a formal meeting. No off-the-cuff comments looking for an opening or tagging the topic on to the end of another meeting.
Ask for a time to sit down with the decision makers and get yourself prepared. Look up industry average wages, write down all your responsibilities and get a good feel for what you’re worth.
Pump up your tyres
Most people are terrible at taking credit and talking themselves up. But if there is a time and place to be a tall poppy, it is here.
Walk the pay masters through how your role has changed since your last salary review and highlight any achievements and innovations you’ve brought on board.
But, more than that, talk about why you’re there, what you want to achieve and how you see your role and responsibilities developing. Managers love this stuff.
Get a result
This is where a lot of people fall down. You can’t leave that meeting without an agreement on the next steps.
What else do you need to do to hit that next pay bracket? When will the next review take place? What date will they come back with an offer? When will the pay rise kick in?
If you leave the next steps hanging, or meekly back away from your once-firm-position, you will have shown your cards and could be left in limbo. So make sure to get a result.
If this all sounds a bit serious, it sort of is. But it can be an easy conversation when approached in a level headed and well thought out way.
So give it a go. It’ll be the easiest million bucks you ever make.