Boss is taking the piss

[nutellabella]

For various reasons I haven't had a pay rise in nearly 5 years, I am finally in a position where I am about to & my boss has offered me a paltry 50p ph. I've told him that it isn't what I was expecting and he seemed genuinely shocked that I didn't snap his hand off!
I'm good at my job, have progressed loads over the last few years & feel like I should be rewarded.
I feel like he's taking the piss expecting me to work for peanuts. He knows my financial situation isn't great & knows how much a decent pay rise would help me out!
If you hadn't had a pay rise in 5 years what would you be looking to get now?

What would I be looking to get? A new job, probably!

Have you had a look round, seen what jobs with your current level of skills and responsibility are going for? Whether you apply for them or not, it should give you a bit of leverage to negotiate a decent increase.

I have had a quick look around & I would need about a £4ph increase to be in line with them!
It's a good job in many ways,working conditions,hours it's just the pay that's a shocker!!

Bloody hell- get your CV refreshed, then!

I don't think the fact you've not had a payrise for 5 years is relevant, nor is your personal financial situation. The relevant factors are your level of responsibility and performance, and market rate for similar jobs in similar organisations. Plus of course rates of pay in your organisation generally and any fairness/equity issues.

Take evidence of current market rates of roles in similar organisations with similar responsibilities to yours to your boss and ask for your pay to reflect local market rates for similar roles. If he refuses, start applying!

Your personal financial situation is irrelevant, if you are underpaid by £4ph move elsewhere!

What flowery said. You need to justify your request by showing what other similar jobs pay locally, and by showing the additional responsibilities you've taken on, not by telling your boss you really need the money.

quit the job, and go on a two year cycle journey to Australia