How to get a pay rise and double your salary within 2 years

Want to learn how to consistently get pay rises which will double your salary in a short amount of time?

By Will Mayger in Careers |2020-01-20

If you are fed up with not getting the pay rise you deserve, you are in the same boat as 95% of the UK and probably the world.

I consider myself pretty lucky because within the first year or two of starting my career I got some advice that has consistently delivered me good pay rises, and I am talking about £10,000 - £20,000 per annum kind of pay rises

In the last year I had a new record for increasing my salary, I more than doubled my salary, and I think that it is possible for anyone to do, after all it really isn’t difficult, it just requires a bit of conviction and trust in yourself.

So you may be asking what that advice was, well it was quite simple: “Never stay in one place more than 2 years”.

I have stuck by this rule my entire career and it has not let me down.

Keep reading on and we will look at how you can do the same.

How to get a pay rise

Getting a pay rise is usually scheduled to happen about once a year for most people, the problem is, when the time comes there always seems to be an “issue with budget this year”, or “we just need to wait a few more months to get things sorted out”, or maybe, “Here is your £500 pay rise, your salary was £30,000, it will now be £30,500”.

I don’t know about you but I would be pretty annoyed if someone offered £500 after working hard all year long, making them rich.

This brings me onto my first point for how to get a pay rise.

1. You decide how much you are worth, not your employer.

What this means is quite simple, if they don’t give you the pay rise you wanted, hand in your notice and don’t waste another second with that employer.

Your time is yours, not your employers, you sell it to your employer for the amount of money that you decide. If they aren’t paying your new rate, you go somewhere else.

It’s just like selling your home, if you get an offer for your home that is way below what it is worth would you sell it?

So why do the same with your time?

2. Other employers value you more than your current employers will.

I have never really understood why this is the case, but it is true nevertheless.

You will always get paid more by finding a new job rather than waiting for a pay rise in the one you are already in.

This gives you more reason to hand in your notice because even though your current employer may not want to pay the amount you want, a new employer will.

3. Accept the risk and make the jump

It is always petrifying handing in your notice, but there are a few ways that you can reduce your fear and the risk.

  1. Find a job before leaving your current one.
  2. Always work hard and get your job done well (you will often be offered your old position back if things were to go wrong).
  3. Make it a habit and each time it will become easier. Aim to change jobs every 1 - 2 years.

To summarize

In order to get pay rises that you actually notice, you need to change jobs every so often, aim to do this every 1 - 2 years.

Not only will this give you more money, it will also give you more experience, make your cv look better, help you learn more, and fast track your career.

Don’t feel like you have to be loyal. If, for business reasons, your employer has to let you go, they will. So if there is a job that offers you more, why would you not take it? Your employer would.

Work hard at everything you do, and most importantly get your job done, and get it done well.

Not only will this help create a security net by having your old position to fall back on, but it will also give you great references for future positions.

I hope this answers the question of how to get a pay rise, and how to get it consistently, year in year out.

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By Will Mayger in Careers.
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