With the increasing cost of living and the economic changes in the region, many professionals find themselves unsatisfied with the salaries they’re receiving and may contemplate asking for a salary raise.
Almost half of professionals in the Middle East and North Africa (Mena) are not happy with their current salaries according to our research and less than one in five professionals believes that their salary is competitive with other companies in their industry.
But if you plan to ask for a raise, there are a few things you need to know and do before having that conversation. This is to ensure your request is taken into consideration and does not backfire. Here are seven tips to take into account before asking for a pay rise:
1. Know the market average
Before you go into your manager’s office to ask for that salary increase, do some homework and research the market average for your position and expertise. There are some helpful tools online, where you can compare salaries in your industry. Once you find out what the market average is, you can have a better idea of how much to ask for and a reference point to support your argument.
2. Know your company’s pay scale
Look into your company’s salary increase habits. The HR department or your supervisor can help you with that. If your company offers a steady annual salary increase following your appraisal, then you should only bring up the topic when you sit with your manager for your review. If not, you can talk to your manager about it during your next meeting.
3. Read the employee handbook
Most companies have employee handbooks that offer valuable information about the company policies, regulations and employees’ rights and duties. Some handbooks even offer salary guidelines and/or an employee rank system breakdown. You can then find out if you’re being fairly compensated or if you deserve more.
4. Review your options
More often than not, employees not looking for a new job might be approached by other companies who find their CVs online and offer them a job. It is these situations that could lead an employee to rethink their current salary, especially if the new job offers a higher pay. However, you should know that using a new job offer as a bargaining strategy could fail and employers could refuse you that salary increase. If so, seriously considering that new job is also an option.
5. Be straightforward
When meeting with your manager, do not be vague with your statements and offer an honest and straightforward request. Starting the conversation with something around that line of “I would like to discuss my salary with you” is a good way to initiate the discussion. Managers appreciate honesty and directness.
6. Do not threaten to resign
Threatening to quit if you don’t receive a pay raise is counterproductive and unprofessional. Almost every employee is replaceable and managers might prefer going through the process of hiring someone new rather than dealing with an undedicated or a disgruntled employee. If you’re truly unhappy, and not because of your salary, you can discuss ways to address the causes with your manager.
7. Consider non-financial compensations
Managers often understand employees’ frustration with their salaries. But in many instances, increasing an employee’s salary is out of the manager’s control. Therefore, a manager could offer other forms of compensation to retain a good employee. These non-financial benefits could be extra days off, more flexible working hours and even an option to work remotely. Seriously consider these options as sometimes such benefits will not come easily and could truly compensate for the lower wage you are receiving.
Suhail Masri is the vice president of employer solutions at the Middle East jobs site Bayt.com
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