Business psychologists' tips for securing a pay rise without switching jobs

Six months ago, if you were feeling slightly morose about your pay packet, the solution was rather simple - get a new job offer.

After all, there were plenty of new jobs in the first half of 2010 and, if you were offered a new position, there was a three in four chance your existing employer would counter-offer. Even if this doesn't happen, you're likely to secure a salary uplift of 15-20% by switching jobs.

But with fewer job opportunities available now, and the prospect of further redundancies on the horizon, starting a new position where you could lose your 'employment protection rights' for 12 months doesn't seem like a wise idea.

It may therefore be better to try and convince your existing employer that you deserve a pay rise. Based on conversations with business psychologists who work in the financial sector, here are some things to bear in mind when negotiating.

1. Timing is everything

The two sides of the coin here are a) the performance of your division and/or company and b) your own personal contribution.

If things are starting to look shaky at your firm, even broaching the subject will do more harm than good, says Dr Rob Yeung, business psychologist at Talentspace.

"Your line manager may be thinking that you're a greedy person looking out for your own best interests rather than a team player, and that's not a good perception for your manager to have when the next round of cuts comes," he says.

"Build up a case by being very analytical of the pros and cons of your case and hopefully all will end up in your favour," adds Robin Linnecar, chairman of executive coaching firm Praesta. "The ideal time, of course, is to enter the discussion just after you have been praised by your boss for a piece of work. Timing is everything in these negotiations."

2. Know your boss

Yeung points to the need to understand the perspective of your manager, and how a rationalised argument (rather than an impassioned plea) about why you deserve a raise is more likely to be successful.

But it's also about knowing what type of argument will appeal to their personality, says Ruth Colling, a business psychologist with Nicholson McBride.

"If they're predominantly data orientated or geeky, focus on the facts and the detail; if they're salesy or opportunistic, remind them of how you contribute to their success, of how much more you could do for them and if they're more altruistic, appealing to their better nature and sense of what is right or fair may be effective," she says.

3. Know your worth

It's important to do your research into the market rate for your role - through salary surveys and remuneration consultants, says Linnecar - but a few water-cooler facts go a long way, ie, are you being underpaid compared to you colleagues, particularly new entrants?

"If you are going to declare you have knowledge of someone else's salary, emphasise the fact that you're not looking for a move," says Colling. "You don't want to go elsewhere, but you are concerned that your motivation levels will be impacted by your knowledge and that this will compromise such personal values such as total commitment and going the extra mile."

4. Stick to your gameplan

Assuming you've compiled a case for why you deserve a pay-rise, ensure you're fully able to express it.

"Employers are very good at answering only part of your agenda items and leaving out the bits they find difficult," says Linnecar. "Don't be fobbed off, but go systematically and unemotionally through each point in turn."