The secret to getting a bigger pay rise

When it comes to business, loyalty pays. According to a new study, those who have stayed in their job for more than 12 months in the UK enjoyed a much bigger pay rise than those who flit between companies.

Figures from the Office for National Statistics (ONS) show while the average wage for workers across the country rose by an average of only 0.1 per cent this year, those who have worked for their company for more than 12 months saw a 4.1 per cent rise.

The benefit for staying in work was even more pronounced among younger workers - with those aged 18-21 seeing an 8 per cent jump in the last year.

But if you're stuck in a job with no sign of a wage rise on the horizon, what exactly is the best way to secure it? According to Quartz, you've almost certainly been going about it the wrong way.

Citing a study by psychologists at Columbia University, the article says the most effective way to secure the rise you want is to create a "bolstering range".

Instead of giving a range with a minimum lower than your ideal figure and a maximum higher than it (a "bracket range"), you should instead give your preferred wage as the lowest figure.

If you offer a single figure, it suggests to your employer that you may be willing to go below that - however, with a range they are unlikely to think you are willing to go below the lowest figure. Even out of politeness they probably wouldn't go far below because it could be deemed insulting.

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