12/21/2020 Yes, you should still ask for a pay raise this year - The Economic Times

BENCHMARKS CLOSED NSE LOSER-LARGE CAP FEATURED FUNDS ★★★★★ 5Y RETURN

Axis Long Term Equity Di… MARKET WA
Sensex 46,960.69 70.35 Au Small Fin B… 897.00 -46.15 15.39 % INVEST NOW

Jobs
English Edition | E-Paper

Home ETPrime Markets News Industry RISE Politics Wealth MF Tech Jobs Opinion NRI Panache ET NOW More

Business News › Jobs › Yes, you should still ask for a pay raise this year

Yes, you should still ask for a pay raise this year
By Abadesi Osunsade, Bloomberg Last Updated: Dec 19, 2020, 11:31 PM IST
SHARE FONT SIZE SAVE PRINT

Synopsis
It’s true that many companies spent the rst half of 2020 cutting costs wherever they
could. So it’s easy to understand why anyone may hesitate to ask for more
compensation right now.

Getty Images
The conventional wisdom is that you
should ask your manager for a pay raise
every year. Yet fear of rejection can be
enough of a reason to avoid raising the
question. During a pandemic it seems
even harder to think such a request
would be welcomed.

It matters how you go about negotiating.

Creating a convincing case is crucial, and there
are a few things you want to keep in mind as you
prepare.
But does this mean we should forgo
negotiating and asking for what we’ve
earned this year? Absolutely not.

Data from the International Labour Organization show that the Covid-related
job losses are already depressing wages, with women often being the worst hit.
It’s true that many companies spent the rst half of 2020 cutting costs
wherever they could. So it’s easy to understand why anyone may hesitate to
ask for more compensation right now.

But here’s the thing: Employers will still pay for top talent.

I was laid o at the end of March this year and found myself job-hunting in
the U.K. at a time when tech jobs were hardly abundant. But what I found
interesting was that the open roles I discovered were willing to pay at the top-
end of market rate. For full-time o ers I received, I negotiated up as usual and
met no resistance. The same is true for the consulting work I took on while I
was job-hunting.

https://economictimes.indiatimes.com/jobs/yes-you-should-still-ask-for-a-pay-raise-this-year/articleshow/79817628.cms 1/4
12/21/2020 Yes, you should still ask for a pay raise this year - The Economic Times

The fact that I was able to successfully push back on companies o ering work
showed me that even in these trying times, employers are still willing to spend
on securing talent. U.K. companies legally required to report gender pay data
have an extra incentive to ensure that women aren’t underpaid relative to
men.

But it matters how you go about negotiating. Creating a convincing case is

crucial, and there are a few things you want to keep in mind as you prepare.

Leverage your increased responsibilities. I’ve spoken to a number of

professional women in the U.K. who have been able to leverage pandemic-
induced changes, such as their roles evolving to include more responsibility, to
negotiate a more senior job title and even a pay bump. They made the case
that in order to excel, they would need to be compensated accordingly.
Perhaps they were the lucky few, but these examples are helpful case studies
of what can be achieved.

Lots of us have found ourselves trying to do more with less in our jobs. While
companies are doing their utmost to serve customers and achieve ambitious
goals, we the employees are putting in the work to turn targets into reality.

Don’t let that work go unnoticed. It will serve you well to create a compelling
narrative about how you've responded during the pandemic. Take your
increase in responsibilities and greater ownership in stride. Make it clear
you’re committed to continue delivering — and that you should be
compensated the market rate for what you deliver. Articulate that a pay bump
will guarantee increased motivation and results.

Make a habit of discussing comp during your annual performance review.

Many people don’t bring up money during their reviews. But this is the time to
present results you’ve achieved and to demonstrate where you have added
value. Fair compensation should be part of the conversation.

So don’t hesitate. Tell your manager as soon as you can that you’d like to nd
time to discuss your performance and compensation. Send them an outline of
your achievements and request for a pay bump before you meet, so they can
gather their thoughts and connect with HR to gauge how feasible it is. Then
approach the conversation as a collaboration. After all, your line manager will
be facing folks higher up to make a case for you, and you want to make it as
easy as possible for them to get a yes. Even if they object to your request
initially, show your appreciation for their input and support.

Prepare for a ‘no.’ Carefully consider any objections that your line manager

https://economictimes.indiatimes.com/jobs/yes-you-should-still-ask-for-a-pay-raise-this-year/articleshow/79817628.cms 2/4
12/21/2020 Yes, you should still ask for a pay raise this year - The Economic Times

puts on the table. Take a collaborative not combative approach: Try to

understand if the push back is because it would be a tough ask for them to
take higher up (maybe they have bigger sh to fry right now), or if there’s truly
no budget there.

If it’s the former, seek advice on an e ective strategy. When would be a better
time to raise this? On the latter, push for greater transparency about how the
company wants to reward performance. For many companies, most 2020
spend is actually budgeted for in 2019 with companies putting money aside to
reward performance. This means “no budget” actually means “reluctant to
spend what’s left of the budget”. Ask your line manager to help you
understand their resistance and use probing questions to get speci c answers.

Get creative. If the reality is that salaries are staying at across the company
and there is really no way you can increase your cash compensation, think
creatively. What else do you value that could keep you motivated to keep
growing in your role? Perhaps you could ask for a budget for training and get a
new quali cation. Or you could push for more paid leave and exible hours.

The pandemic has sent our careers into directions we couldn’t have imagined.
But for a fortunate few, it’s also created opportunities for growth in our roles
and our paychecks.

READ MORE NEWS ON

Pay Hike Covid Covid Covid Jobloss Pay Hike Covid Pay Hike

1 COMMENT ON THIS STORY

Rohit Kapoor 13 hours ago

I think, favouritism plays a role in deciding pay hike. People who have been
neglected in the past, remain neglected in future also. The pandemic is
becoming tool in hands of managers.

VIEW COMMENTS ADD COMMENTS

Search News, Stock Quotes & NAV

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
BROWSE
COMPANIES:
1 2 3 4 5 6 7 8 9

https://economictimes.indiatimes.com/jobs/yes-you-should-still-ask-for-a-pay-raise-this-year/articleshow/79817628.cms 3/4
12/21/2020 Yes, you should still ask for a pay raise this year - The Economic Times

Trending Now Popular Categories

TCS Sputnik V Vaccine ITR guide News Live!
Kerala Rains H-1b visa vs L-1 visa Markets Live ! Stock Screener
Which US visa do I need Chennai Rains MF Screener Candlestick Screener
Delhi Rains Mumbai Rains Sunday ET Covid Updates
Oxford Covid Vaccine Coronavirus Impact on Pharma US Elections
Industry
Coronavirus Impact on Auto Coronavirus Impact on Healthcare
Industry Sector
Coronavirus Impact on World Coronavirus Impact on Tourism
Economy
Coronavirus Impact on India Coronavirus Impact on Business

Hot On Web In Case You Missed It

Virat Kohli Farmers protest latest updates Sputnik V Vaccine Coca Cola Layoffs
Covid vaccine Live updates What is F-1 visa Bangalore Rains Coronavirus vaccine
Sensex today Aadhaar mobile number IIT Guwahati placements Russia Vaccine
veri cation Coronavirus Impact on IT Sector Oxford Vaccine
Multibagger stock What are multi asset funds Coronavirus Impact on Indian Coronavirus Impact on Real Est
What are balanced mutual funds Global markets Economy
Mutual funds Breaking news Coronavirus Impact on Sartups Coronavirus Impact on Global
YES Bank share price SGX Nifty Economy
Sensex Live IRCTC share price TSRTC Kashmir News
Infosys share price Linkedin

ET Verticals More From Our Network

Auto News Retail News इकनॉिमक टाइ Pune Mirror Bangalore Mirror
Health News Telecom News Ahmedabad Mirror ItsMyAscent Education Times
Energy News IT News Brand Capital Mumbai Mirror Times Now
Real Estate News Marketing & Advertising News Indiatimes महारा टाइम् ಜಯ ಕ ಟಕ
Technology News CFO News Go Green AdAge India Eisamay
IT Security News IGN India IamGujarat Times of India
Samayam Tamil Samayam Telugu Miss Kyra
Bombay Times Filmipop MX Player
Newspaper Times Prime Colombia
Subscription
NBT Gold Podcast Ei Samay Gold Podcast MX ShareKaro App
MX TakaTak App

Other Useful Links Services

About Us Subscribe to ET Prime Longwalks App
Book your Newspaper Subscription Create Your Own Ad
Advertise with Us Terms of Use & Grievance Redressal
Privacy policy Contact Us
RSS DNPA Code of Ethics

Follow Us On: Download ET App: SUBSCRIBE TO

OUR
NEWSLETTER

Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

https://economictimes.indiatimes.com/jobs/yes-you-should-still-ask-for-a-pay-raise-this-year/articleshow/79817628.cms 4/4