British workers feel “frustrated and squeezed” by their pay, which has flatlined for more than a decade, the Bank of England’s chief economist Andy Haldane told BBC Newsnight.
But despite broad stagnation in wage growth, it is still possible to maximise your chances of getting a pay rise. Here’s what the experts recommend:
According to the Financial Times, “the first rule of negotiating a pay rise is to ask for it.”
However, don’t do it via email or text message, says Green & Black’s boss Josephine Fairley in the Daily Telegraph.
“Preferably, pay rises need to be asked for face-to-face. As a boss, it’s never great when someone emails and says, ‘I work hard and I’m broke. I need more money,’ which has happened to me in the past. These things need to be done in the context of a proper review.”
Know your worth
Do a bit of research to find out what people in the same position as you are being paid elsewhere, says The Guardian: “Check job sites on the internet and newspaper ads for comparable rates of pay for your position. Trade magazines frequently carry out salary surveys.”
As with any negotiation, you should always ask for more than you expect to be given, says jobs website Monster.co.uk. But don’t go in with an outrageously inflated figure at first offering.
You should also give your boss a set period within which to respond, the site suggests. “Buried in that is the implication that you have other options, and the company may risk losing you if they don’t at least meet you halfway.”
Talk to your boss after lunch
According to careers coach Simon North, co-founder and director of careers consultancy Position Ignition, talking to your boss after he or she has eaten is key. “After lunch – having eaten and with their blood sugars higher, it is a better time to broach tough subjects,” he told ShortList.
Consider taking other benefits
If you work for a business that is experiencing financial difficulties, cash may not be an option, so consider asking for non-financial benefits such as flexible working or longer holidays, the FT says.