How to ask for a raise?
Asking the company boss or manager for a pay raise is far more challenging than you anticipate. For most of us, it’s a nerve-wrenching phase to enter. But if you believe you have more leverage than other employees, don’t hesitate to ask for a raise. First, collect information about your previous work, prepare your case file, look for an appropriate time to set an appointment with your boss, and ask for a raise politely and consistently. Plus, prepare yourself for positive or negative responses from your boss. The process of asking for a raise to your boss seems grim and awkward, but if you do your research and are ready with facts, you will feel more confident initiating the conversation. Let me explain in detail how to ask for a raise in a decent manner.
Start by looking at your present position in the company.
Getting a pay raise becomes easy if you are a star employee or have a pull compared to other employees. A good company will find a bit extra to keep you satisfied.
Do not use other job postings as leverage.
Your boss wants to invest in employees who grow with the company. A request will only make them suspect your devotion. So be careful about manipulating another job offer as leverage. Such a job offer is essential because the boss may ask about it.
Don’t ask for pay raise during the company’s contractionary gap.
The contractionary gap occurs when a company’s real GDP is lower than its expected GDP while the company’s economy is operating at full employment.
If your company is going through a contractionary gap, it is better to wait until later. However, this is not an excuse to delay asking for a raise indefinitely.
Check your company’s policies regarding pay raises.
Talk to someone in Human Resources and ask about your policies and requirements regarding pay raises. It may help you to know who is the decision maker of your company is and what the company’s plan behind the pay raise.
Know your actual worth in the company.
It’s much easy for you to believe that you are giving 110% to your company and you are the best. But it’s time to think objectively and compare your worth with other employees in the company. It will give you a real insight into your worth in the company.
Explore the average salary for your current position.
There are many places to collect salary data, like the job market and online salary estimators. Getting salary data for comparable positions can help you to feel more informed when you talk with your boss about a pay raise.
Talk to your coworkers about salary.
It’s a handy tactic to ask about your co-worker’s salary. Compare your coworkers’ wages to yours and see what you think is fair. It can give a good starting point to you for how much to ask for raise from your boss.
Consider your qualifications
Consider your education, years of experience, and years you’ve worked for your current job. Your boss would certainly consider them when you ask for a raise.
Add new skills to your resume.
You can make yourself desirable by getting a certificate or diploma related to your present job. Some websites conduct free classes and tests that will reward you with a certificate of completion and add to your resume. Certifications may help you at your recent job and further in the future, even if you cannot ensure a raise.
Please write down your accomplishments to submit them to your boss.
Don’t expect your boss has noticed all your accomplishments. It’s a suitable concept to write your improved quality, customer satisfaction, and significantly increased profits and submit them to your boss along with your request for pay raise. It will remind your boss of your worth and provide an objective basis for your claims.
Reconsider your work history and make a list
Review your work histories before completing a case file, like a challenging project, urgent deadlines you met, saving the company time or money, and how you improve company systems or processes. Make a list of these works you did for your company.
Rehearse what you’re going to say
It’s a decent move to rehearse what you will say to your boss. It will boost your confidence and give you an understanding of possible questions you might face about your salary analysis, achievements, or future goals.
Identify how much raise you want.
The average pay raise is 3%, but depending on the reasons you mention for a pay raise, you can request a price increase in the range of 10% to 20%. However, the higher the percentage requested, the better the reason should be.
Choose the right time to ask for a raise.
Good timings lead to great success. The best period to ask for a raise is when
- You are fulfilling high results above expectations.
- Your company is achieving financial results.
Avoid asking for a pay raise when
- You have not proved anything amazing for the firm.
- There are a million things to do, like on Mondays.
- Many other things are on the boss’s mind, like on Fridays.
Set an appointment with your boss before asking for a raise
- Do not ask for a raise without setting an appointment on the calendar first.
- Set a meeting on the calendar at least two weeks in advance.
- Let your manager know you plan to discuss your compensation in this meeting.
Present yourself professionally like you would have a job interview or an important presentation
Consider dressing formally for this meeting that indicates to your boss that you understand the significance of the conversation.
Be confident and stay positive.
Speak politely and clearly to maintain your morale better. It will help project confidence.
Commence with a clear statement
You can consider opening lines like:
“Thank you for arranging this meeting. I look onward to sharing some of my recent achievements with you and discussing my salary. Is now the right time?”
Heed up with specifics.
If your manager is open to the conversation from there, don’t just say, “I want a raise.”
- Start by talking about how much you enjoy your job.
- Follow up by discussing your achievements. It will show your boss why a pay raise matters to you.
- Tell them the increase or salary figure you’d like, and mention your research to determine that number.
- Be as specific as possible in your talking, so your boss notices that you have deemed it through.
Express thanks to your boss for their time.
Thank your boss for their time. It is important regardless of the answer you’ve been given. Consider sending a follow-up email to thank them, even if you have repeatedly said thank you.
Be persistent and wait for the boss’s reply.
You want a raise, and your boss must be concerned that you’re looking for a job elsewhere. Set a date to ask the question again. Until then, keep things running smoothly. Don’t cut corners just because you’re disappointed that you haven’t gotten a raise yet.
If it’s a yes, don’t jump with fun.
Don’t jump with joy to celebrate your success. Ask questions to clarify what they expect from you and about additional responsibilities. Now it’s on you to increase your quality of work to show you’re capable of the raise you have been given.
If there is a no, don’t be offended by the refusal.
A negative answer may be based on factors you are unaware of or have no control over. Ask what you can do to qualify for a future raise. A good boss will explain the reasons for the refusal and show you how to increase your chances of getting a better salary in the future.
Consider another job if your boss overlooks you.
Better to stick around for a while to work for that raise. But if months go by and you are working hard and not getting the recognition you deserve, go for a new job.
Some people go years without asking for a raise because they consider it taboo. Though it can be challenging to get a pay raise, it’s worse to fall into the perspective of not asking for a pay rise, ever.
Never settle for less than you deserve. If you are afraid, take some time to learn the skill of negotiation and then ask for a pay raise. It’s your right.
Did you find this article useful in getting a pay raise? Write in the comment section. If you are interested in knowing about office politics and the types of office politicians, please click.