19 Jul How to ask your boss for a raise
9 effective steps to ask for a raise
It’s time to ask for a raise. You’ve been putting in the hours, you’ve mastered your role, and you’re ready for some recognition.
It’s important to remember that asking for a raise is no different than asking for anything else from your boss—like vacation time or even equipment upgrades. The key is phrasing your request in the most professional way possible while still being respectful and friendly.
Here are some tips on how to make sure that happens:
Know your worth
If you want a raise you need to know your value and what skills you have to offer. Be prepared to explain why you deserve to be paid more and this will include explaining why you should be paid more than other people in your role.
If possible, find out how much money you make compared to others in your industry, and be prepared to explain why you deserve the same amount (if your salary is lower) or more.
Timing is key
Make sure you ask for a raise at the right time. Avoid asking when the company is struggling.
If your company has had to downsize or lay off workers, it’s not the right time to ask for a raise. If you’re lucky enough not to be part of those layoffs, then you’ll have to wait until things turn around before bringing up your compensation.
Avoid asking for a raise if you just completed a big objective. You should wait until you’ve made multiple achievements that have really helped the company.
One of the most important things you can do to prepare for your salary raise conversation is to make a list of all the reasons why you deserve one. Such as:
- Your accomplishments and achievements,
- Responsibilities and duties.
- Skills, knowledge and qualifications.
- Your colleagues’ testimonials about your contributions and performance (if possible).
Be confident in your abilities. You have to believe that you are valuable and that the work you do is worth paying for.
The value of any given thing or person depends on what it does. So if you think about what you’ve accomplished, instead of focusing on how much time has passed since your last raise, then when someone asks why they should give one to you (and they will), their answer will be easy: because your work is valuable.
Knowing your worth is only part of the battle. You must also be able to convey that value to your employer in a way that will make them want to keep you around.
Here are three ways you can do that:
- Know exactly how much money they’re paying you now and why they’re paying it (such as market data, industry standards, and so on).
- New skills you’ve learned that make you worthy of a raise.
- Know what other people doing similar work are getting paid at comparable companies.
- Keep track of the hours and effort you put into each project.
Don’t be scared!
Asking for a raise can be nerve-wracking, but if you don’t do it, someone else may come along who is willing to ask for what they’re worth.
It’s common that once you’ve gotten comfortable at a position and laid down roots at an organization, it’s easy to fall into complacency about your career trajectory and earning potential but make sure you’re getting what you deserve.
This question can be overwhelming but what is the best way to get comfortable asking? Practice! List out all the reasons why you deserve a raise and remind yourself of their importance every day until it becomes second nature.
The more prepared and confident you are in your request, the better off both parties will be when things finally come down to brass tacks.
Show your impact
You need to show that you have added value to the company and are ready for more responsibility. Show that productivity has increased since you started working at the company.
This means highlighting examples of increased production and mentioning anything that was particularly difficult or challenging, since this demonstrates self-motivation and resilience—two qualities that employers love in their employees.
Explain how your company will improve from your raise
The best way to earn what you want is to create an environment where your company can benefit from your contributions, which will make it easier for them to agree with your request.
How will your pay raise benefit the company? Will it add value? Is there no one else who could do it as well or better than you?
This explanation can be done in a number of ways but the more concrete examples of value creation that you can provide the better.
Document the conversation
When you have a talk with your boss, you should write down your explanation, your boss’s response and what you agreed on.
This is important legally and you should email it to your boss afterwards to confirm that you’re both in agreement.
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