Asking for a raise comes with apprehension, uncertainty, and even fear. You might be scared that your boss can get angry, you would lose your job, or it’d leave the impression that you’re ungrateful.
But if you’ve proven yourself to be a hardworking and invaluable asset to the company, there’s nothing wrong with asking for what you deserve.
Here are some tips on how and when to ask for a raise to go into those negotiations confidently.
When to Ask for a Raise
Before asking for a raise, you should at least wait for six months since you’ve joined the position.
This gives your employer time to get to know you and understand the value you bring.
Focus on doing your best work and building relationships with co-workers and supervisors during this time. This will increase the chances of your employer considering giving you a raise.
Preparing to Ask for a Raise
Preparation is key when it comes to asking for a raise. It’s important to consider why you deserve a raise and how to present the case before asking for it.
Here’s what you need to do before presenting your case:
Analyzing Your Value
Analyzing your value is the first step to understanding how much a raise should be. Assess what you bring to the table regarding skills and experience and any accomplishments or major successes you’ve had during your time with the company.
Documenting Your Accomplishments
Having a list of successes you can reference when discussing your raise will be very helpful in making a convincing case for why you deserve more money. Document every major accomplishment you’ve had in the past six months. This could be a successful project, helping the company save money or taking on an extra workload.
Understanding Company Policies
It’s important to understand company policies when it comes to raises. Read any employee handbook or salary-related documents to understand how and when raises are issued.
Researching Salary Ranges
If you’re unaware of the standard salary range for your job, find out what other people with similar experience and qualifications are earning within the same field. You can find this information on websites such as Glassdoor and Salary.com. Additionally, you can use a pay raise calculator to determine how much money you could make with each percentage increase.
Presenting Your Case for a Raise
After determining the amount of money you want to ask for and gathering evidence to support your case, it’s time to present your argument. Here are some tips on effectively presenting your case for a raise.
Choosing the Right Time
When asking for a raise, timing is everything. Ensure you choose a time when your manager is not stressed and can carefully consider your request. It’s also important to show that you value their time. Schedule an appointment with your boss instead of popping into their office unannounced.
Explaining Why You Deserve a Raise
Be prepared to explain why you deserve a raise. Be sure to highlight how you have added value and exceeded your expected duties in your role. Demonstrate that you understand the company’s goals and how you have contributed to achieving them.
Formulating a Negotiation Strategy
Know the lowest amount you would be willing to accept and come up with counter-offers or other alternatives. Not only does this show you are willing to come to a compromise, but it also shows that you understand the company’s budget constraints.
Presenting Your Request Effectively
Even though you have put in the work to build your case, presenting it effectively is just as important. Use a polite and professional tone and remain confident yet open-minded.
As nervous as you might feel asking for a raise, it’s an important step toward your professional development. It’s important to remember that you bring value to your company, and it’s okay to ask for recognition.
Here is a summary of what you need to do when asking for a raise:
- Analyze your value and document your accomplishments
- Understand company policies to ensure you are asking for the right amount and at the right time
- Research salary ranges to understand what other people in similar roles are making
- Present your case effectively and prepare for negotiations
- Remain confident and professional in your request.