Feeling underpaid? It might be the time to request an increase at your job.
The process of asking for a raise may be stressful There are actions you can take to ease your stress and improve your odds of success. If you’re keen on earning more money, read this article on tips on how to prepare yourself for the big question.
Self-evaluation: Do you deserve a raise?
We all want to earn more money. The issue is how much you’re entitled to earn more. While that might seem as a cold approach to think about it but your ability to argue your case using real numbers and facts can go a long way. Do you have a strong argument?
Before you submit your request, you should ask yourself these questions:
- Do you live up to and exceed the expectations set by the job description?
- Are you recognized as someone who can get things completed?
- Do you accept other responsibilities outside of the scope of your work?
- Do other people look to you for leadership and advice?
- Are you always seeking to improve your knowledge about your field?
- Does anyone in your workplace say that you are essential to the business?
- Do you consistently deliver extraordinary results?
If you are able to convince your boss that the majority or all of these statements are true about you and your job then you’ll be that much closer to receiving your pay increase.
Strategies for asking for an increase
If you’re satisfied with the quality of work you’ve done getting an increase may be daunting. Here are some guidelines to make the process go smoothly.
Find out your true worth
If you’re asking for an increase, you need to be aware of what you contribute to the discussion. Write down your achievements and contributions to support your argument.
- Provide measurable proof of success(for example, the amount that you’ve contributed to increasing revenues or even the sum you’ve helped the company save by implementing a specific process). Think about the successes of the projects you’ve helped. If you can, provide clear numbers.
- Use HTML0 to highlight your individual talents and experiences. What are you able to do that no one else is able to do?
- Provide positive peer feedback. The emails of coworkers and clients who praise your performance can be used as proof social that you’re worthy of a promotion. Did you receive a positive job review this year? Make use of it to show your previous record of good work.
Do your research
Discuss with other professionals within your field and conduct research on the internet to discover what the current salary for your job. Make sure you consider the level of experience you have as well as your education and the your place of residence because each one of these variables will affect your pay.
Select the appropriate moment to inquire
Before you ask for a raise, think about the financial situation of your company. It’s usually less costly for a business to pay a little more for an employee that has experience in the field rather than hire and teach an employee who is new.
There are times that your company’s financials are more tight than other times as well as occasions when the budget is more open to changes. Make sure you take into account the financial outlook of your employer when making plans to request an increase.
Take your needs out of it
There are compelling personal reasons to explain the reason you’d like or requireto receive a raise in your salary However, these reasons shouldn’t be part the negotiations. Pay raises are usually according to merit and prior performance. Whatever your boss would like to support you however, they’ll have a tough to justify a possible raise if you’ve never gained it in a tangible manner.
Make sure you have your answers in hand
Expect follow-up questions. Your boss could inquire about the numbers you give and the projects you reference and the salary comparisons you make, and any else that comes up during your pitch. Be aware of the claims you make to ensure you’re ready in the case that your boss asks for an in-depth discussion of these items.
Consider win/win
The relationship between an employee and employer must be based on mutual benefits. When discussing your pay with your employer, make sure to keep this in your mind. Be confident in asking for the amount you believe you are entitled to, but keep the demands of “give me an increase or I’ll end my employment” from the conversation unless you’re willing to take on an opportunity at a different company.
Keep in mind that even if you will not be able to give you raise at this time additional benefits and more vacation time are two other “wins” that employers may be willing to discuss in place of a salary increase.
Example script for asking for an increase
You are free to talk in your own way however, it might be beneficial to practice your pitch prior to the time. You might even want to note it down to help you remember it (although I wouldn’t recommend using a pre-written speech in your presentation).
Here’s a basic template that will assist you in starting:
I am grateful that you took the time to speak with me. I’d like to discuss my recent performance as well as the possibility of a possible salary adjustment.
Over the last year, I’ve participated in various major initiatives that have raised revenues and increased efficiency. My involvement in [project name] aided us in to achieve our goals as well as my contribution to [project name] led to the achievement ].
With my knowledge, experience as well as my years of service to the company, in addition to comparable wages in this region, I believe that a pay increase of the desired amount is reasonable. Are we able to make it work?
What happens if your employer says no to a an increase?
The employer might not agree to the offer of a raise due to a variety of reasons. That’s why maintaining an open and friendly relationship when discussing the possibility of a raise is crucial. A “no” right now isn’t necessarily an “no” for the duration of time. Make an effort to improve your standing within the company by enhancing your understanding of your field and extending your responsibilities in the workplace.
