Rising costs are making every cent count, and many of us are considering our career progression. If you're aiming for a salary increase in 2025, financial advisor Paul Merriman shares key phrases to avoid during salary negotiations. Learn what not to say to your boss and how to frame your request effectively for the best chance of success.
With rising costs, nearly 64% of us have been forced to adjust our spending, according to the latest Central Statistics Office (CSO) data, meaning every cent coming into the household is more important than ever. And for many, the first few months of the year has us considering our career and its progression.
But if you’re hoping to increase your income in 2025, how can you give yourself the best chance of increasing your salary? Paul Merriman, a financial advisor at Ask Paul, says while you might go in with a list of all the things you want to say to your boss, one of the first things to do is consider a list of things you SHOULDN’T say to increase your chances. These include: 'I can’t seem to make ends meet” With the cost of living on everyone’s minds, you might think it is perfectly reasonable to reference the current climate. However, this is counterproductive according to Paul, as employers will only base their pay rise decisions on an employee's performance, their value to the company, and the market rate. Instead Try: Enter the conversation with an overview of your achievements, examples of where you have exceeded personal targets, introduced processes that have positively impacted the company, and examples of when you have saved the company money. 'I work harder than everyone here” Making direct comparisons between you and your colleagues will not earn you any favours and is in fact likely to come across as unprofessional, explains Paul and employers may feel that you are not a team player. Focus on your achievements only, without making direct comparisons to others. Instead Try: Research to find out your industry's average salary range and experience level. Use this to explain why you deserve a raise rather than personal comparisons. 'It has been years since my last pay rise' Paul reveals that as harsh as it may be, the years of service accumulated at a company are irrelevant when receiving a pay increase. The time spent at a company doesn’t directly reflect your achievements, contribution, or experience; it’s simply a passage of time, he explains. Instead Try: Present clear and concise examples of how you have grown within the company since you started, the additional responsibilities you have taken on during that time, and how you have navigated specific challenges. 'I’ll leave if I don’t receive a pay rise' Declaring ultimatums is likely to put your employers back up, says Paul, and unfortunately often backfires. Unless you’re genuinely prepared to leave, it’s best not to present ultimatums. Instead Try: Use the conversation to discuss your progression within the company, training opportunities, and career growth opportunities and how this may pave the way with goals about salary reviews. 'I’m aware of redundancies, and I know that we have lost a lot of clients, but I still want a raise' Acknowledging tough times while asking for a pay increase is contradictory and leads decision-makers to believe you are out of touch with the company’s financial reality, says Paul. Instead Try: If you know company challenges and feel you deserve a raise, highlight instances where you have helped the company navigate recent events. Position your request as a reward for resilience and dedication. 'There seems to be a lot of money flying around?' Asking for a pay rise based around office gossip about company profits may appear opportunistic and ignorant according to Paul. This approach can also unconsciously pit you against colleagues competing for the same pool of funds. Instead Try: Plan your request strategically. Performance reviews are great moments to approach the subject after completing projects or playing a significant role in client wins. 'I just think that maybe I deserve more' Vague statements lack the specificity to assure an employer that you are entitled to a pay rise Paul explains. Employers must hold concrete evidence. You must be prepared to discuss specific numbers about how much of a pay increase you wish to receive. Instead Try: Along with an outline of your achievements, back all your examples up with data. For instance, use the following format: Highlight of achievement X Explanation of how it benefitted the company X Responsibilities you have incurred X why it justifies a pay increase.
SALARY INCREASE CAREER ADVICE PERFORMANCE REVIEWS NEGOTIATION FINANCIAL PLANNING
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