Making money tips: Best way to secure a pay rise and ‘double your earnings growth’ | Personal Finance | Finance


It means it’s one of the busiest times of the year for recruiters who say the main reason workers would like to try something new is typically because they would like a pay rise. However, some people might be better off staying put, so what’s the best way to ask for a pay rise in 2022?

When it comes to New Year’s resolutions, changing jobs or securing a pay rise often top people’s list.

Analysis by the Office of National Statistics shows people who switch jobs boost their earnings by 7.3 percent on average – more than double the three percent uplift earned by workers who stay in their existing job.

Jobsite Indeed records its busiest day of the year on either the first or second Monday after New Year’s Day, as millions of workers weigh up their options.

Mikaela Elliott, senior manager of employer insights at Indeed, said: “Salary remains the single most important consideration when it comes to a job – be that with their current employer or when they are searching for a new role.”

 ”It is a good idea to weigh up the total package before making a final decision, as those extra days off may end up being more valuable to you than a little bit more money,” Ms Elliott adds.

“Often the best way of securing a raise is to switch jobs.

“In fact, research suggests workers can double their earnings growth by heading to pastures new.

“So do not be afraid to walk away from pay negotiations if your employer’s offer does not fairly meet your expectations.”

4. Be flexible and willing to compromise. An employer might offer you a different salary package, with more holiday pay or more convenient working hours, if they can’t directly raise the amount of money you’re paid. Evaluate carefully whether such incentives might in fact be more beneficial than a higher basic salary.

5. Don’t be afraid to walk away, as long as all avenues have been investigated, consider pausing negotiations and coming back to the conversation at a later date, after each party has had a chance to consider everything fully.

Source link


Please enter your comment!
Please enter your name here