How to ask for a pay rise: preparation, timing and what to say
A rise of 150 a month is 1,800 a year, every year, and it tends to lift future increases too. Few financial decisions pay off as well as one well-prepared conversation. Yet many people never have it, out of fear or not knowing how.
1. Gather evidence, not feelings
For a few weeks, write down what you've achieved: projects delivered, problems solved, money saved or revenue generated, new responsibilities you've taken on, people you train. Put numbers on it wherever you can. "I cut response times by 30%" carries more weight than "I've worked really hard".
2. Find out what your role pays
Look at salary reports for your industry, job sites that show pay ranges and similar roles in your area. Asking trusted contacts helps too. Your goal is a specific, reasonable figure, not "whatever you think is fair".
3. Pick your moment
- Before budgets for the year are set, not after they've been approved.
- After a visible success or when you've taken on new duties.
- In a meeting requested for that purpose, not in a corridor or during a crisis.
4. How to frame it
Talk about value, not personal needs. Your rent isn't an argument for the company; your contribution is. A simple structure:
- Summarise how you've grown and what you've delivered.
- Explain how your role has changed since your salary was set.
- Propose a specific figure based on your research.
- Listen, and ask what it would take to get there.
5. If the answer is no
Ask which goals you'd need to hit and by when, and get it in writing. If money isn't possible right now, consider other improvements: paid training, more remote days, flexible hours or a change of title. And if there's no progress after a few attempts, the research you've done will help you look elsewhere.
Make the rise count
When pay goes up, spending tends to creep up with it. A useful rule: send at least half of any rise to savings or investing before you get used to spending it. In MonVault you can watch your savings rate month by month and check that the improvement actually reaches your goals.
