How often should I get a pay rise?

Salary is often the key factor for picking up a role. But when you’ve landed it and you’ve settled in, how often should you expect a pay rise increase?

We’ve already covered the how to get a pay rise  question, and this is the next big question on everyone lips.

So we asked over 5,000 people the question in our recent survey  and the majority told us they expect a pay rise at least every year. But whether it happens or not is another story.

Here’s a few indicators that will help you pinpoint when you should expect your next pay rise.

What is happening in your market?

Always keep up to date with what’s happening in the market for your particular industry and location. Did you know only 7 out of 10 people were aware of their industry’s average pay! Make sure you are periodically reviewing salary benchmarks to ensure that yours aligns with the current market value for your skillset and experience levels. If it doesn’t match up, it might be time to speak with your manager.

Start your research in our latest salary guides, or speak with your recruiter for more detailed insights.

Do you have a performance review scheduled?

Performance reviews are the perfect time to showcase your work and contributions to the company. Are you consistently exceeding expectations? Have you taken on any additional responsibilities? Or maybe you’ve played a big role in a recent project? If you answered “yes” to any of these questions, it might be time!

Here’s 7 things you should remember to bring up in your next performance review.

Have you had a major accomplishment or milestone recently?

If you have recently hit a major milestone, finished a project, received a new certification or made big strides recently, negotiating a pay rise might come a bit easier. Timing is everything as they say. And highlighting your dedication and the value you bring the company will strengthen your case.

Looking to upskill? Here’s how to take charge of your professional development.

What do your company policies and procedures say?

Check to see if your company has any policies regarding salary reviews. Some organisations have a structured review process, while others may be a bit more flexible. This will help determine whether you will need to be proactive. While many companies automatically adjust wages to match inflation, if you think your raise should exceed this, now is the ideal moment to initiate the conversation.

Read our top 3 winning strategies to negotiate a better salary.

Other signs it might be time for a pay rise:

• You have a received an offer letter from a competing company.
• You’ve consistently gone the extra mile.
• You received a promotion recently.
• There’s been company turnover.

But what happens if you don’t get the pay rise you want?

This is another big question that we get asked a lot. But the answer is not simple , there are few more things to consider before you go making any big decisions. Ask yourself these 5 questions before you pack up and leave your job for a pay rise.

The final answer?

Pay rises are completely dependent on your personal situation, company policies and a few other factors. But if you haven’t received one for a while or you’re not being paid in line with industry standards, it’s time for your next raise!

Good luck and don’t forget to reach out to your recruiter for advice or support if you need!