Have you been working at the same company for quite a while? Do you feel, based on the quality of your work, that you deserve a raise? It might be time to gather your courage and ask your boss for a salary increase.
For some people, the idea of asking for a raise amounts to no more than a simple formality that they have to initiate. For others, the very prospect of asking for a salary increase is enough to induce anxiety and stress.
No matter how you feel about requesting a salary increase, here are a few important elements to consider when it comes time to ask for a raise.
- Make sure the company you work for is in good financial condition
If you are planning to ask for a raise, it would be wise to do so at a moment when the organization you work for is in top financial shape. For example, if your employer recently lost an important client or have laid off employees recently, there’s a strong chance that your request will be denied. To make sure the odds of success are on your side, only ask for a raise when you know the organization is in good financial condition.
- Arrange a formal meeting
No matter how good your relationship with your boss is, you should always arrange a formal meeting with them when you’re ready to ask for a raise. Asking for a salary increase isn’t something you do in the elevator or at the coffee machine. You can also simply ask your boss if they are free at a given moment and take an empty room to speak in private about your request.
- Prepare your arguments
Obviously, you will need to have made some preparations for your meeting with your boss. You need to be prepared to answer questions including: Why do you believe you deserve a raise? How have you distinguished yourself through your work in recent months? How do you deliver value for the organization? These are the kinds of questions you need to be able to answer clearly and concisely when you ask for a salary increase. If your employer can’t see a compelling reason why they should pay you more, chances are they will turn down your request.
- Be reasonable
If you really want to boost your chances of getting a raise, make sure to ask for a reasonable amount. A standard salary raise that doesn’t involve a promotion or change of work duties won’t normally exceed 10 percent of an employee’s current salary. For example, if you make $45,000 annually and receive a raise of 8 percent, this represents an increase of $3600 – a considerable amount. If you ask your boss for a 30 percent raise, it’s likely they will turn you down.
- Be prepared to take on more responsibility
If you do get a raise, your employer may well feel comfortable in asking you to take on some additional responsibilities or a greater scope of work. This may work in your favor, since the more responsibilities you take on the more likely it is you will get tapped for a promotion in the future. Of course, it all depends on what sector you’re working in.
- Be respectful and don’t get emotional
No matter how your request for a raise plays out, it’s vital that you remain calm and respectful during the encounter. This means:
Don’t mention your frustrations with work. If you need to talk about them, book another meeting for that purpose.
Don’t bad-mouth your colleagues or compare yourself to them.
Don’t raise your voice. You may feel nervous or anxious, but do your best to stay as calm as possible.
- Evaluate your options for negotiation
It could be that, for one reason or another, your employer isn’t currently in a position to offer you a raise. If this is the case, don’t despair: You may still be able to negotiate on other points, such as your working conditions. For example, you could request more paid vacation time, ask to have your transportation costs reimbursed, or request to be able to work from home.
- Prepare your reaction, whether you get the raise or not
First of all, it’s very likely that you won’t receive a definitive answer to your request right away. Your boss will need to check with the finance department of the organization to see if they are in a position to grant a salary increase. Knowing this, don’t expect a “yes” or a “no” at the time you ask for a raise. No matter what happens, just prepare yourself to stay calm and to try to control your reactions. Don’t jump up and down if you do get a raise, and don’t wreck the place if you don’t get it! The golden rule is to remain professional no matter what happens.
It’s important to keep in mind that often, the most effective way to get a substantial raise is to change jobs. As mentioned earlier, when asking for a raise in your current job, it’s unlikely that you will get more than a 10 percent raise at most. But by changing jobs, you may be able to bump up your salary by as much as 30 percent or more. Most of the time, people who have the highest salaries in your field have obtained them through “job hopping.” This means changing jobs every three or four years with the goal of increasing one’s salary, experience and access to higher positions.
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