How to Prepare for Your Next Salary Review and Get the Pay Rise You Deserve

Salary reviews can feel like a daunting conversation, but with the right preparation, they become a valuable opportunity to reflect on your progress, showcase your impact, and align your compensation with your market worth. If you’re approaching a salary review, here’s how you can prepare to make the most of the conversation:

1. Know When Salary Reviews Happen

Many companies conduct salary reviews at specific times of the year, often aligning with financial planning and performance review cycles. Common times include:

• End of the Fiscal Year (Q4) – Many companies review salaries in line with their budgeting process, often in December or March, depending on their financial year-end.
• Annual Performance Reviews – These commonly take place at the start of the year (January-February) or mid-year (June-July) and often include salary discussions.
• Company Anniversary or Work Anniversaries – Some businesses review salaries on an employee’s work anniversary.
• After Annual Budget Approvals – For organisations with strict budget cycles, salary reviews may occur after new budgets are approved, typically in Q1 or Q2.

However, salary reviews can also happen on an ad-hoc basis, especially in fast-growing industries like tech. This makes it crucial to be proactive and prepared for these discussions at any time.

2. Do Your Research: Know Your Market Worth

One of the most important steps in preparing for a salary review is understanding what professionals in similar roles, industries, and locations are earning. There are many comprehensive salary guides available to help professionals understand their market worth. These guides provide up-to-date salary benchmarks across various tech specialisms, helping you gauge where your compensation stands in the market. Having data-backed insights ensures that you’re asking for a realistic and competitive salary based on industry trends. To access a copy of the Reqiva Tech Market & Salary Guide, you can request a copy anytime by heading to the Candidate page on our website here: Tech Market & Salary Guide.

3. Review Your Contributions and Achievements

Your salary should reflect the value you bring to your organisation. Ahead of your review, compile a list of your key achievements over the past year. Consider:

• Successful projects you’ve delivered
• Metrics that demonstrate your impact (e.g., revenue growth, efficiency improvements, cost savings)
• Additional responsibilities you’ve taken on
• Positive feedback from clients, colleagues, or leadership

Having concrete examples ready will strengthen your case and make it easier for your employer to see your contributions in real terms.

4. Understand Your Company’s Salary Review Process

Different companies have different processes when it comes to salary reviews. Is your company operating within set salary bands? Do they review pay annually, or is it performance-driven? Understanding these factors will help you tailor your approach and timing.

5. Prepare Your Case with Confidence

Once you have your research and achievements outlined, be ready to articulate your case clearly and professionally. Consider structuring your conversation around:

• Your contributions – How your work has positively impacted the business
• Market comparisons – How your salary aligns with industry benchmarks
• Your expectations – A well-reasoned salary adjustment request that is fair and justified

6. Be Ready for the Discussion

Salary conversations can sometimes take unexpected turns. Be prepared for different responses, whether it’s an immediate approval, a counteroffer, or a request for further discussion at a later date. If a raise isn’t currently possible, consider discussing alternative benefits such as additional training, bonuses, or career development opportunities.

7. Follow Up

Regardless of the outcome, always follow up with an email summarising your discussion and any agreed next steps. This ensures there is clarity on what was discussed and keeps the conversation open for future reviews.

Salary reviews are a key part of your career progression, and the right preparation can significantly improve your chances of securing the salary you deserve. If you’re wondering how your salary compares to industry standards, remember to check out the latest Reqiva Tech Market & Salary Guide to get the insights you need!