When we asked paraplanners ‘Have you successfully negotiated a pay rise in the past 12 months?’, this is what you said.
The idea of asking for a pay rise can be a daunting prospect and certainly, the results of our latest Parameters survey revealed that many paraplanners still feel uncertain about doing so.
Just over two fifths (42%) of paraplanners we surveyed said they have not tried to negotiate a pay rise in the past 12 months, just marginally above the 41% who said they had received a pay rise as part of their annual performance review.
The findings also revealed that just 13% had managed to negotiate a pay rise outside of their annual performance review, while 5% said they were unsuccessful.
Among those who had received a pay rise as part of their review, there was a consensus that the amount was insufficient in light of high inflation and the cost-of-living crisis.
One paraplanner told Professional Paraplanner: “My last two annual increases have been half that of inflation and as a result, I’m exercising my right to go and get a better paid job.”
Another said: “I received a scheduled pay rise, below inflation, in November 2022. A small pay rise in line with extra responsibilities in July 2023 but not keeping up with the market.”
Another paraplanner who received a pay rise recently also said they were not successful in gaining a “substantial rise” and were only given an inflation ‘boost’, while another said they lacked confidence to ask for a pay rise.
“I have never been confident in the idea of negotiating a pay rise. I tend to assume that if they value me they’ll pay me fairly which is probably naïve,” they said.
The survey also revealed that many paraplanners do not feel that the pay structure within their firm reflects the additional responsibilities they had taken on.
“The pay rise relates to my changing role and additional responsibilities but my pay always lags those additional responsibilities,” explained one respondent. “I take things on and then have to argue for a pay rise rather than being asked to take things on and rewarded from the start for doing so.”
However, other respondents told Professional Paraplanner they were happy with the pay rise they had received. One firm paid all administrative staff pay rises across the board for the past few years, despite the financial difficulty of the pandemic.
Another paraplanner added: “I am early in my career and have received above-inflation pay rises each year. The cost of living pay rise was 5% this year, which I think is reasonable.”