It is very important for one to prepare for the conversation when they plan to ask for a raise. You will need to be organized with all the facts and figures orderly arranged to attest why you deserve a raise. Be prepared with an annual list of achievements like the big projects you have attained, the statistics and outcomes of those projects, how you prevent the money loss of the company and improved the company’s bottom line. The fact is that even though the best performers do stand out, your manager has a lot more on their plate and hence might not remember all that you have achieved. When you think it is the time you must request a raise, consider the salary negotiation tips below when asking for a raise at work.
The following mentioned are few salary negotiation tips on how to ask for a raise and when to ask for a raise.
1. Understand about a raise:
Asking for raise and getting a raise is not just about acquiring more money. It is a time where you need to demonstrate that you are precious to your company, you are worth the additional investments and is an opportunity to reflect on your complete performance as an employee.
2. Your relationship with the boss:
You must make sure that you have a friendly relationship with your boss and that you are the one helping around when your boss is in any difficulties. Make all your accomplishments evident to the boss, so that it becomes easy enough for you when you are asking for a raise.
3. Relationship with your coworkers:
You need to assess your relationship with people above and below you, to ensure there is no blemish on your personal brand owing to some conflict. You need to understand how the people in your workplace perceive you.
4. Demonstrate your capabilities:
Take up the new big projects and work on it, become a problem solver and display your boss that you are capable to succeed the challenges and risk that awaits the company.
5. Practice your conversation:
Evaluate the questions that your boss is likely to come up with and prepare answers to that question. Practice your request with someone to boost your confidence.
6. Mock meeting:
Do a mock meeting with a professional from your field. The professional mentor will be able to make sure that you convey your case in an assertive manner. This is beneficial practice as the process of asking a raise can be nerve-racking.
7. Consider your appearance:
To appear serious about the meeting you must dress up in formals displaying that you mean business. You need to dress for success even if your company permits casual apparels on a daily basis, be in formals when you are requesting a raise. Appear professional and wear clothes that make you feel confident and comfortable for the meet.
8. Test the market:
Apply for a vacancy at some different firm or ask your value in the industry by talking to a recruiter. It doesn’t mean that you are planning to leave the company but is a reality check on what the market value of your title is and what you are being paid. You will get evidence to point, if being questioned.
9. Best time to ask the company:
The budgets are decided three or four months prior to the annual review, so you can consider this time period as the apt one to ask for a raise. Asking a raise is also possible when you are handed extra responsibilities which do not come under your job title. Another time that can be considered apt is when the company is thriving.
10. Best time to ask the boss:
You must even consider when the best time to ask your boss for a raise is. It is a good idea to assess your boss’s mood. If they are tangled with some problem in the company or facing financial downfall it is probably not the best time to approach your boss. You must contemplate how your boss is convincible and by which method.
11. Performance review:
If you believe that in the current performance review you have excelled yourself, then it is also the best time to ask for a raise. The review will support your appeal and help you reach a raise.
You must do research before asking a raise regarding how much a person earns in your job title or industry. You can utilize the information to ask a specific sum to your manager. Search for details online or though a professional organization.
13. Figure out your salary:
Online salary calculators and surveys will present you the ideal salary that you must be earning considering the number of years you have worked in the same field and the amount of time you have worked with a particular employer.
14. The length of time you have worked:
You need to evaluate how long have you been working for your current employer. Generally, it is a good idea to ask for a raise typically after a year in the job.
15. Your value:
In case you are already earning the average, however, believe that you must earn more due to the value you add in the company, certain achievements you have attained, some special training that you have accomplished etc., you must articulate that to your boss.
16. Prepare a case:
List your accomplishment and make your case as impressive as you will for a prospective employer to hire you. Keep it in a descending order with the most recent achievements in the forefront. You need to list down the skills too, that have helped you in your accomplishments.
17. Going above and beyond:
You need to ask yourself whether you are just meeting the boss with achievements that were laid down by the company as objectives and goals to meet or if you have literally gone above and beyond to accomplish more than demanded of you. When you ask for raise being the best of the employees that the company has, the boss is motivated to preserve you in his company.
18. Make an appointment:
You must consider making an appointment to the boss to show how serious you are about the matter. Deal with the appointment as a business meeting or an interview showcasing your talents and achievements. It is not preferred that you talk about a raise by call or in an email.
In case your boss is not approving the amount or sum asked, try with negotiating a raise or for some benefits. This can be the best chance to negotiate with extra personal days in a year, the facility to work from home or go for bonus incentives.
20. Focus on what you deserve and not what you need:
You cannot expect your boss to agree to an amount just because you need to pay loans or have some other personal finance issues. After evaluating what value you bring to the company, you must accordingly ask for a raise for what you deserve.
21. Let the boss offer first:
In the negotiation let the boss first offer you with an amount before you set forth your amount as per evaluation. When you are offered by the boss, take some time to react upon the proposal. Gauge its relevance to your estimated amount and then give a response. If you think it’s very low as compared to the amount indicated by your research then you can state your offer to the boss.
22. Never highlight the negatives:
At the time of your meet to request a raise from your company, do not list down the negative aspects of the job that you have not received a raise after working for a long time or after completing a significant project. Complaining will not work and so avoid talking about anything that is upsetting.
23. Avoid comparing yourself to the others:
You may get tempted to point out that a coworker has received a raise for his hard work, when you see that your employer is less interested to grant you one. This is bad for the relationship of you and your coworkers as well as your boss. The raise is about you and your work as well as your dedication to the company.
24. Ability to get a raise:
When you are denied a raise, take the opportunity to ask what it takes to earn one. This way you will know the policies that your company follows to grant a raise and the expectations of your boss. Perhaps you can set goals along with your boss to reach the particular raise that you desire.
25. Don’t be angry:
When your boss doesn’t give you a raise, you do not need to be infuriated and rant about how underpaid you are and unappreciated you feel. There are chances you really need to work up that ladder. You wouldn’t want to spoil any relationship as you might get transferred to other department or need a recommendation letter for a better job offer from a different company.
26. Never take the conversation as war:
By no means should you take the conversation of granting you a raise as a dispute or something that is ‘you’ against ‘them’. You must understand you are going to discuss about mutual benefits and keep a mindset that you are making a partnership deal with your employer.
27. Never threaten to leave:
When you get a negative response on your request it is not good to act arrogantly and threaten to leave the job. In case you are still not granted a raise you probably will have to resign from the job following your threat. This does not hold an optimistic future and vivid relationships in your workplace. Thus remember you can always approach back for a raise rather threatening thoughtlessly.
28. Make it a private matter:
You do not need to spread a word about you asking for a raise to your colleagues. You must not risk the chance to lose a raise by telling everybody that you are earning less than you really should.
29. Consider the future:
When you are granted with a raise, make sure to take up more responsibilities. You will be expected to do more and visibly take up more work, lead a team, stay up late and conquer a last minute deadline work. You need to be ready with what comes with the package of getting the raise.
30. Be persistent if you were denied:
The employer now knows that you are seeking for a raise and will be tempted to consider it with the fear that he may lose you to some other company that offers you, your desired remuneration. Thus now you can ask your employer after a certain interval of time while you still keep doing the hard work for your company’s success. Never stop putting efforts just because you were denied.
31. Remain patient:
Do not be discouraged when you are not given an instant yes for your request. Perhaps your boss needs time to consider it over. Perhaps your boss is not the one who can make the decision of raises and thus will require time to reach up with your appeal to his higher authorities.
32. Prepare a thank you note:
Regardless of what the outcome will be of the meeting to request for a raise, you must produce a thankyou note to send it following the meeting with the boss. You have to show that you any ways appreciate that the boss considered having the meet with you to discuss upon your raise.
33. Get the terms in writing:
Whatever terms you reached in the conversation with your boss, get it all in writing. There should not arise any question of doubt or commitments in the future and hence ensure the agreement has proper names and signatures as well as the right terms.
You are surely to receive additional information from your conversation with your boss. Instead of the assumption that the employer devalues your work, you will find out that there are perhaps some realistic reasons why you are not getting a raise. Thus it is beneficial to consider the above points when you are appealing for a pay raise or salary negotiation; if you do it with care, you are probably going to get a hold on the raise.