Have you been working at a job and found yourself stuck in the paycheck-to-paycheck cycle that never seems to change? You may feel like you contribute more at work but aren’t being paid on par with your efforts. Or you may wonder how some people climb the salary ladder with relative ease.
Well, you’re not alone in this; financial growth and stability are things every employee looks for, particularly in today’s competitive job market. However, getting a pay bump often requires more than dedication and hard work. Sometimes, you might just have to buckle up and ask for a raise!
Asking for a raise can be intimidating, regardless of the economic climate. However, a recent survey reveals that more than 90% of senior managers prefer retaining their staff, so at least you have that on your side!
If you’re apprehensive about approaching your employer about getting a raise, here are some tips to put you on the right track.
Evaluate Your Salary
Do some research about the average starting salaries for your job position. There are several websites online that can help gauge the average compensation for your role. You can use the information obtained to request a hike if you’re being paid below the industry standard.
At the same time, you should also consider the company’s financial position when requesting an increment. If the company has just landed a good deal or has experienced an upswing in revenue, you can feel comfortable asking for one. However, if the company has had layoffs and budget constraints, it might be a better option to build a case for other benefits like professional development or extra paid time off.
Keep Practicing
Get a friend or family member to help you out in this aspect. While you practice your answers, get a friend to give honest feedback on your body language, tone, and eye contact. Tone plays a vital role, and being polite when requesting a raise is crucial.
Make sure that your speech is clear and respectful. You should also ensure you actively listen to your manager’s responses. In a nutshell, you must be confident, not cocky, and convincing, not demanding!
Lay Your Achievements Out on The Table
You know the hard work you’re putting into your work, but when the time comes to ask for a raise, you must build a strong case for yourself. For example, keep a list of your achievements and the wins you’ve brought to the company handy. Let’s say you’re a website developer or designer. When asking for a hike, share some excellent metrics to build credibility. You could explain how your user interface raised the company website’s conversion rate by over 120%.
Get Ready for A Discussion
Not only is asking for a salary raise uncomfortable for most people, but it’s also demanding. You must prepare yourself to present figures, facts, examples, and instances of excelling in your position since your last pay raise. Preparation is crucial because it ensures you’re confident, articulate, and strong in your argument!
If you’re ticking all the boxes regarding your duties, make a list of what you’re doing that’s not specified in the job description, particularly as the company adapts to new business conditions.
While it’s crucial that you talk about your accomplishments, it’s equally important that you’re prepared to listen to feedback, too. If your boss has to get the approval of someone higher up or is not authorized to grant a raise, you can help by writing a letter requesting an increment along with some short critical points about why you think you deserve it.
Be Very Confident in Your Approach
Don’t use phrases like “I may/I think/I might”. Such terms will only demonstrate that you’re unsure about yourself or your contributions. Instead, talk to your manager about what you did and not what you think you did. Tell them about the positive effects your work has created and not what it might have done.
Remember, there is a fine line between confidence and arrogance, so be careful not to overstep!
Have a Fallback Strategy
Despite being thoroughly prepared, your boss might still turn down your request. If this happens, don’t be afraid to talk about what it would take to get a salary raise in the future. If your boss is not even ready to consider a raise, politely ask what actions you should take to gain one and set a review date.
If your manager specifies that budget constraints are why they cannot offer you a raise, ask about a one-time bonus, even after a set period. You can also ask if you can request an upgrade in benefits like a flexible or hybrid schedule.
Position Yourself for A Raise In The Future
Take the initiative and discuss your long-term goals with your manager. Discuss how you want to expand your current skill set, gain better networking opportunities, and bring more value to the company. You can ask this again the next time there is a performance review.
Stay positive, respectful, polite, and professional even if things don’t work out. As long as you are well prepared for your discussion, you can rest assured that your request will at least get some consideration from your manager and pave the road ahead for future conversations!
