A pay increase -- result! (5)
I believe the answer is:
arise
'result' is the definition.
(I've seen this before)
'a pay increase' is the wordplay.
'pay increase' becomes 'rise' (I've seen this in other clues).
'a'+'rise'='ARISE'
(Other definitions for arise that I've seen before include "Get up or come up" , "Turn up" , "Become apparent" , "Occur; stand up" , "Tower" .)