Data from the recently released Hays Salary Guide has revealed that 45 per cent of skilled professionals say they intend to ask for a pay rise in their next review, with another 24 per cent considering doing so.
This follows the news that 65 per cent of organisations plan to give their accounting staff a pay rise of up to 3 per cent in their next review, while 11 per cent don’t plan on raising their accountancy and finance staff salaries at all.
Hays Accountancy & Finance regional director David Cawley told Accountants Daily said that accountants are prepared to ask for what they want.
“Our survey shows that a large percentage of accountants are either planning to ask or considering asking for a pay rise. With news that pay rises are set to be sedate, they’re taking the bull by the horns and asking their manager directly for a raise,” he said.
“They know that their skills are in demand and that employers are more positive than they were. After several years of smaller increases, they feel the time’s right to ask for what they feel their skills are worth.”
Mr Cawley said that while asking for a pay rise doesn’t guarantee it’ll increase your chances of receiving one, it certainly makes sure your boss notices you when making her or his salary review decisions.
“Even if you are not successful, you may be able to agree on a pay review in six months’ time or on other benefits, such as structured career progression or training,” he said.
“There’s no harm in asking.”
Accountants can increase their chances of being successful in asking for a raise by outlining their accomplishments and the value they add to the organisation as the basis of their negotiation.
“Provide proof of your successes and any additional duties you’ve taken on since your last pay rise,” he said. “Show your manager how valuable you are and back up your request with evidence of current market salaries.”