Asking for a raise can seem to be pretty unnerving and perplexing . In today's tough economy, these thoughts should not hold you back from asking for a raise that you deserve.
However, as simple as it sounds, the process of making yourself a good fit for receiving the raise can be quite challenging if you don't prove yourself to be a valuable asset for the company.
Many people are hesitant in approaching the manager with this subject simply because of the fear of "rejection".
However, what they fail to understand is that this is simply a matter of :
How to prepare for the raise
The first step towards seizing your fully - merited raise is by tactically preparing for it. This is the step that will decide whether you are worthy of receiving the raise or not. Here are some tips for preparing effectually for the raise :
1. Figure out what your boss wants
If you do not anticipate the kind of skills or expertise that your boss wants, then no matter how hard you work, getting a raise is not going to be on the cards anytime soon. Hence, in order to stay ahead of the curve, you must be well aware of what your boss expects from you and thus, deliver them with precision. This will not only leave a positive impression on your boss but will also make him ascertain your capabilities and skills in the workplace.
2. Make your Hours count
Simply going to the office and working overtime is not going to suffice in your quest to get a raise. You must tackle your tasks efficiently and with utmost productivity. Being consistent with your work and executing them with perfection will help you gain an indispensable position in the company.
3. Learn new skills
In order to keep up with the fast pacing world, you must evolve as an individual. Hence, learning new skills and expertise will not only broaden your mental horizon but will also make your resume look better. These new-found skills will enable you to solve critical problems at the workplace and hence, will make a constructive impact on your boss. These new skills can be learned by :
4. Do extensive research
In order to bring in the subject for a raise, you must be well-versed on certain things like the pay scale which is given in the market. Having a grasp on how much others are paid will give you an upper hand while negotiating your raise. This will ensure you get a reasonable salary according to your worth in the company.
5. Certify your worth
Your boss will only invest in you if he knows that you match the job qualifications and hence, are worth the investment. Hence, it should be your duty to prove yourself in the company and differentiate yourself from others. It can be done by :
When to ask for the raise
A good timing is what it comes down to when asking for a raise. Picking up the right time to bring up the matter of your raise is as crucial as preparing for it. Here are some of the best times when you can ask for a raise in salary :
1. After acing a huge project
Successful completion of an important project or landing a major client deal will give you recognition not only in the workplace but these accomplishments will also reflect on your resume positively. This will not only give you brownie points but will also give you an upper hand while demanding a raise.
2. During annual performance reviews
Every company keeps a performance track record on its employees by holding annual performance reviews. Seize this time to present your hard work, any major projects, skills, and accomplishments before your boss. Topics like a raise in salary are most likely to be discussed during these sessions and hence, this brings forth a great opportunity to approach your boss.
3. When your company is profiting
When a company performs well, then this period brings forth excellent prospects not only for the growth of the company but also for its employees. This is the time when a company looks forward to investing in its employees and business. Thus, utilizing this moment will increase your chances of getting a raise.
4. If you have been given more responsibilities
Having more on your platter than what was initially stated is a solid reason for asking for a raise. For instance, if you have filled in as a temporary manager, or have been assigned projects that are typically higher than your pay scale, will give you enough reason for demanding a raise in your salary.
5. When your boss is in a cheerful mood
Asking for a raise when your boss is busy and burdened with tasks will only lead to worsening of the situation. Hence, waiting for a calm and less chaotic situation will allow your boss to listen to your needs and propositions better.
How to ask for a raise
When you have tackled the preparation and timing of asking for a raise, the manner in which you approach your boss for the topic should be stressed next. You must remember not to feel shy about bringing in the topic as it's completely normal to ask for a raise especially if you have been working extra hard for it.
1. Justify your raise
Before bringing in the talk, the first step that you need to do is gather all your accomplishments , extra hours worked, certificates received (if any), or any major project that you worked on during your tenure. Remember to present forth your best skills that will set you apart from other candidates. This will make it easier for your boss to evaluate your worth and have a clear description of your efforts. Keep in mind to always justify your points in a compelling and logical manner.
2. Keep your points specific
When asking for a raise, it is important to keep your demand for a desired salary clear and not beat around the bush. This may look like a very small detail but, if kept in mind, it will help both you and your boss avoid any confusion in the future.
3. Be confident
Any company wants certain attributes in its employees and confidence is one of them. If you want your company to invest in you, then you must bring in the subject with the utmost confidence in yourself. This will help your boss to ascertain your commitment to your work and the organization.
4. Talk about your future in the company
Every company desires it's employees to be loyal and invested in the company's future. Hence, to start the discussion on a positive note, you should talk about your wishes of staying in the company and contributing to its growth in the longer run. This will help generate trust between you and your boss and will open the doors of getting a raise for you.
5. Pay attention to what your employer has to say
No matter how badly you want a raise, you must always be patient while stating your concerns. Listening to what your boss has to say on this matter should be stressed. For instance, if your manager is trying to say something and you keep cutting out his say and start speaking yourself, then it will leave a bitter impact as being impatient will not only ruin your impression in front of your employer but will also dim your chances of getting a raise.
Points to avoid while asking for a raise
No matter how much effort and dedication you have put in your work, there are always a set of protocols to follow and certain points to avoid while bringing in the subject. Here are some of the points that you should avoid :
1. Don't compare yourself with your co-workers
Comparing yourself with your peers is highly unprofessional and it only indicates that you are more focused on competing with them rather than working for the welfare of the company. Always keep the subject to yourself, like your accomplishments and skills.
2. Don't pitch in your sad story
As harsh as it may sound, but don't bring in your personal matters while discussing formal business prospects. For instance, you may be having a baby or surrounded by the debt of a loan, but presenting your sob stories will not give your boss a substantial reason for giving a raise in your salary.
3. Don't threaten with an ultimatum
Threatening your manager about leaving the company will not only make things worse in the matters of getting your raise but will also jeopardize your future in the company.
4. Don't be aggressive
Presenting your demands with a calm attitude is very important. Getting upset if tables don't turn your way will definitely not guarantee you a raise in the near future. Having an aggressive approach and blackmailing your boss should be avoided at all costs.
5. Don't bring up inapplicable details
Keep in mind to always bring forth the details relevant to your job in the company and keep insignificant details at bay. For instance, if you write columns for a newspaper editorial, describing how well you can program computers is not going to fetch you a raise.
Always be ready to negotiate
Sometimes the managers agree on their employer's wishes, but only partly. This is where a tactical negotiation comes into play.
It should be important to put forward your desired salary number in a compelling manner but at the same time, try not to be impatient.
An important point to keep in mind is to always start the negotiation of your raise with a slightly higher number. This will give you an edge where if your manager decides to reduce the amount, you will eventually land at your desired salary figure without having to negotiate much.
A raise might not always come in the form of an extended salary. So, always look out for other means of perks like :
What to do next if you don't get a raise
If your manager declines your request for a higher salary, never be disheartened or let it lower your self-esteem. Instead, use this opportunity to seize greater things in life. Hence, two kinds of approaches should be followed in this situation :
1. Evaluate yourself
Ask yourself if you are really a suitable candidate for a raise, or you are miles away from deserving it. Instead of letting it take a toll on your ego, what you should really do is work on your skills and try to make them not just better, but the best.
2. Look out for other options
If you think that your expertise is not getting the raise that you deserve, then a smart decision is to apply for the position in other companies. Your polished skills and your work experience will make your resume look impressive for future prospects. You can also try preparing for a mock interview. It will help you clarify all your objectives and give you a beforehand stimulation for the new beginning.
But, remember to always keep your salary demands clear from the start to avoid any trouble in the future.
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