How to Get the Pay Raise You Deserve in 2024

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New Year, New Pay

Year after year, we experience an increase in inflation, and not necessarily a pay raise, making the challenge between the cost of living and people’s stagnant incomes an impossible one. With 2024 in the horizon, employers in Africa are encouraged to fight for the quality of life they truly deserve, whether it is asking for a pay raise or seeking for more appealing compensation packages somewhere else.  However, we at CA Global, understand that commencing a conversation about salary negotiations can still be a daunting task. To navigate this process successfully, it’s essential to alleviate any apprehension and bolster your chances of securing a pay raise by diligently preparing and reinforcing your request.

Bellow are some strategic steps you can follow in order to get the pay raise you deserve in 2024.

 

1. Strategic Timing for Discussions:

Initiating a conversation about a pay raise requires careful timing. Instead of making your request on the spot, plan ahead. Courage is not the only thing you need to prepare for this conversation. Start the dialogue well before your scheduled performance review, ideally several months in advance. This proactive approach allows you to express your aspirations for a raise and inquire about the necessary steps to achieve it. Aligning your discussion with your company’s budget cycle is crucial, considering that raises may be tied to specific times of the year. By addressing the topic early, you’re essentially holding your manager to their commitments made during previous discussions. Simply put, plant the seed early on in the year.

2. Document Your Achievements:

Building a case for a pay raise goes beyond a mere request; it requires showcasing your individual contributions. Rather than presenting an exhaustive list, focus on key instances or projects where you exceeded expectations. Keep detailed records, including praises from managers, colleagues, or clients, specifics about your actions and their impact, and how your work benefited both your team and the company. Providing your supervisor with a comprehensive understanding of your contributions equips them to make a compelling case when seeking approval for your raise. This is not to say that your employer does not know your worth, but it is difficult to pretend that you do not deserve a raise when the list of your positive contributions and valuable efforts is long.

3. Leverage External Data:

Support your request by incorporating external data, such as industry salary standards and comparable job roles. Utilise accurate salary surveys, such as CA Mining’s Mining Expats Compensation Report. Explore other relevant job listings and compensations in your relevant field, using them as benchmarks while adjusting for location-based pay variations. If you’re discreetly exploring other opportunities, consult with recruiters to gauge potential earnings based on your experience. Utilising external data reinforces your argument for a salary increase.

4. Specify Your Request:

When requesting a pay increase, be precise and substantiate your proposal with research findings. If you consistently outperform expectations but receive below-market compensation, articulate your case for a percentage increase above the market rate to align with your performance. Alternatively, consider proposing non-monetary benefits, such as more paid time off, flexible hours, remote work options, equity compensation, or additional bonus opportunities. If a traditional raise isn’t feasible, explore alternatives that contribute to your overall job satisfaction.

5. Develop a Contingency Plan:

Despite your best efforts, a negative response is a possibility. In such cases, approach the situation with resilience and consider your options:

Seek clarification: Engage in follow-up discussions to understand if the decision is final or part of an ongoing negotiation. Inquire about the potential for career and salary growth within the company.

Invest in you: Explore opportunities for furthering your education and enhance your qualifications in order to warrant a higher salary opportunity or shift to a more lucrative career path within the organisation.

Update your resume: If leaving the company becomes a consideration, update your resume, and explore better-paying opportunities elsewhere. Utilise professional resume writing services or AI tools to enhance your resume and reach out to experienced and trustworthy recruitment services such as CA Global Headhunters.

Asking your employer for more money is not an easy task, especially for your professionals who are not entirely confident in their positions yet. That is why we have crafted a strategy for you to follow step by step in order to ease the process. It is important to make sure that your job satisfaction is met year after year. Most importantly, look within and understand your value. As human beings, it is key that we feel appreciated enough.

Searching for a new position? Head to our job board to see the latest vacancies across various industries and global regions and get the salary you deserve.

Contact us to find out more.

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