Wayne Rooney boosted his pay by 60% in 2009 when he threatened to walk out on Manchester United. Here are some tips to help you get a chunky pay rise.
You’ve got to admire Wayne Rooney. He was already being paid £90,000 a week and then managed to boost his pay packet to £150,000 a week after threatening to go elsewhere to ply his trade. So how can you persuade your boss to give you a nice big pay rise?
Don’t be polite, ask for a rise
This isn’t a time to be polite. If you never ask for a rise, you may never get a rise higher than inflation, or even a rise at all. Remember the saying: Nothing ventured, nothing gained!
Timing is crucial
You shouldn’t necessarily rush into your boss’s office tomorrow. Choose your moment.
If your company has just won a lucrative new contract, your boss could be much more receptive to your request. If the boss has had a bad month, hold back for a little while.
Benchmark
Find out what people in similar jobs are earning. Look at job ads on the internet and in the papers. If you can prove that you’re capable and underpaid, you strengthen your case.
Don’t be modest
If you’ve made your employer money, tell them, and tell them how much. If you’ve been dealing with clients outside the company, see if one of the clients will write a letter of recommendation about you to your boss.
Don’t be arrogant either
Of course, you’ve got to be careful with your tone. Don’t come across as completely cocky. Also don’t fall into the trap of slagging off your colleagues. Your boss probably won’t be impressed. Focus on the positive....
It’s not all about pay
We ask for pay rises because we want to boost our standard of living. But boosting your income isn’t the only way you can improve your quality of life. You could also focus on your spending.
If you keep tabs on your spending, you’ll probably spot areas where you’re wasting your money. The best way to track your spending is to use lovemoney.com’s MoneyTrack tool. We think it's the best budgeting tool on the web.
Sadly we can’t promise that you’ll live the life of Rooney, but if you follow all our tips, there’s a good chance that you will end up feeling better off.
- Check out MoneyTrack now
- Five ways to increase your income