You’ve been working at the same company for at least a year and are proud to be part of the winning team. You’ve put in many hours, and feel that your contributions are an enormous part of the company’s success. You’re ready to ask for a raise.
Pay raises are vital because they provide value to employees and employers. Without increasing employee pay, office morale will decrease. People who work hard for a long time without receiving respect or acknowledgement won’t want to put in as much effort and probably look elsewhere for another job. Raises encourage hard work and an incentive to stay at the company. You deserve a raise and have every right to discuss the subject with your manager.
However, it’s not as simple as marching into their office demanding more money. You must carefully consider your approach and provide valuable reasons why you’re worthy of a pay increase.
What to Do Before You Ask for a Raise
Before you fight for the right price of your service, here are some things you should keep in mind:
- Research salary benchmarks by understanding the market rate for your position and level of experience. Use tools such as Glassdoor, LinkedIn Salary, and PayScale.
- Review your achievements and contributions, so you have documentation of your accomplishments. Especially those that have made a positive impact on the company.
- Know the financial health of your company and the pay cycles. This will help find the optimal time to ask for a raise.
- Prepare a professional pitch that backs your request with data. Practice your pitch to confidently articulate and concisely justify why you need a raise.
- Consider the long-term goals. You must think about your long-term goals in the company and how a raise can align with your professional growth. This shows that you are looking at the bigger picture and are committed to advancing with the company.
These steps will help you avoid any adverse reaction and give you a positive outcome at the end of your request.
Avoid Doing These When Going in to Ask for a Raise
Before you know the things to say before you get your well-deserved raise, here’s a list of things you must not say:
- Do not compare your salary to others. This will come off as unprofessional and envious. Instead, focus on your contributions and achievements.
- Don’t make it about personal minutes, as it will not put forth your value to the company. Instead, ask about your situation and see if the focus is on your performance and achievements.
- Avoid threats or ultimatums, as they can appear aggressive and harm your relationship with the manager. Constructive conversation is far more effective in getting a raise.
- Don’t be vague when you ask for a raise. Mention the amount or percentage increase you are looking for and why you should get it. Back up the request with data from your research and contributions.
- Do not use apologetic language, as you ask for what you deserve; salary discussion is a professional conversation. Speak with confidence in your worth.
You can avoid these with good preparation and being mindful of what you should say. This will set you up for a productive conversation.
Intelligent Ways to Ask for A Raise
To help organize your plan of attack, we’ve created a guide to help you get that money.
Be Smart About Timing
You’ve finally decided to ask for a raise, and you’re gearing up. But before you plan what you’ll say, consider the timing. Your boss is, just like you, a human being. Is it a busy week? Are they going through some personal troubles? You don’t want to spring this at them if you know they’re not in a good headspace.
On the other hand, did you recently land a huge sales deal? Coming to your manager shortly after a big personal win is also in your favour. Don’t forget to email them to arrange a meeting a couple of days beforehand.
Write Down Outstanding Achievements:
A couple of days before you meet with your boss, write down as many outstanding achievements as possible. Have you risen to a recent challenge and demonstrated your commitment to the organization?
Do you go above and beyond project expectations? Consider specific examples to show that you’ve seriously considered why you deserve a pay raise. If you merely tell your boss that you’re a good worker without providing examples, your argument won’t have much leverage.
Practice Your Pitch
When you’ve written out specific reasons and examples of why you think it’s time for a pay raise, practice what you’re going say out loud. You want to sound confident, persuasive, and valuable to the team.
When it Doesn’t Work Out
The worst-case scenario that could happen from asking for a raise is not getting one. There could be several reasons why — such as current economic burdens, a lack of company resources, or undisclosed. Regardless of the reason, perhaps it’s time to start looking for another position. Work with a professional recruitment agency such as IQ PARTNERS that will help you find the job — and salary — you deserve.
They have an exclusive pool of industry professionals looking for new employees eager to offer exciting job packages.
If you’re looking for a pay raise, prepare before organizing the meeting with your boss. By providing valid reasons why you make the company better, they’ll be hard-pressed not to offer you a better deal.
Wrapping It Up!
Get that bag with these tips on how to ask for a raise. If you’ve been working hard for the past quarters and have been positively contributing to growth – you deserve a good hike! Monetary compensation for a corporate employee’s work is equally important as verbal or materialistic appreciation.
With the help of these hacks, you can easily get your well-deserved raise – prepare a great pitch and go approach your manager! All the best – get the timing and confidence right!
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