How to Accurately Ask for a Pay Raise
This piece is prepared for employees who want to negotiate a pay raise but find it terrifying and uncomfortable. A pay raise is the best method for getting what you deserve in case you have a significant change concerning your job duties or you believe your behavior in the work environment is worth being compensated with money. It is quite acceptable to ask for a salary increase, and for those who can find it intimidating we offer some tips. If you follow them, you will be more confident, your approach will be more professional and you can easily initiate the topic of asking for a salary increase.
Find the best time to ask for a raise
First of all, take your time to get to the point by asking for a raise. Use common sense and choose the best time. Choosing a sensitive time, you may not have success. For instance, if there are laid off people, the company has financial issues, it undergoes hard times, or it is an unpleasant and difficult personal period in your boss's life.
Also, make time to consider practices of pay increase in your company. Some companies even have a policy for salary increases. For example, a company can prefer salary increases on the eve of Christmas. The other company has a practice of making raises when the company gets the most profit in the year or before you go for a vacation. Knowing what the best moment is will multiply your chances of getting a pay raise. If there is no such time, everything is at your hands - you should be careful and find the time when your boss is in high spirits and ready for a good change.
Show obvious facts
A proof means everything while spoken words are nothing. You leave no space for “NO” and your boss will not turn down your request if you show numbers, reports and many other proofs. You can include your best performances and most successful accomplishments in the past six months, year, or a longer period. The stronger the evidence you provide, the more chances you create for a salary increase. A well-deserved raise will be yours immediately as you manage to speak up about the work you have done for your department, colleagues, and company. Show the methods you exercised to bring luck to your company, behaving yourself as a devoted and reliable employee. Faithful ones win the trust of the employer which helps them easily negotiate a pay raise.
Learn the competitiveness of your salary
Do some research and get information on salary for the same position in a competing company. Pay attention to job announcements that include the salary they are going to pay for the required duties. Take the advantage of some websites such as PayScale, Workday HCM, Salary.com, etc. These platforms will give you a free report regarding the salary of similar jobs in other companies. If you have financial issues in the bank, problems with your loan, family emergency or something else, but your research shows you get good money for the position you have, the request for a salary increase may not be a good idea. And on the contrary, be assured and optimistic for your request if you find out that you get lower than employees of a similar position in a competing company.
Be patient
You will benefit from being patient and giving your boss enough time to think of the possible salary increase. It’s quite likely that your boss has to discuss the pay raise with the head of your department or want to consult with the vice president on your performance. The best way of giving time to think is to prepare a written request, a handout discussing the advantages the company gets due to your efforts. “Think before you speak” works well here. Your boss will never tell you NO at once, and instead you will be patient enough to hear from him/her.
NOTE
In some cases, you can get the most unexpected “NO.” Some factors may persuade your boss to give a negative response. Don’t feel broken, snap out of it and ask for the reasons for rejection. Ask for the ways of getting better compensation in the future.
The Bottom Line
If you bring value to your team and company and if you have reasonable grounds based on your success in work, make a request concerning a higher compensation. Pay attention to your performance, know your worth and don’t hesitate to negotiate a pay raise. Of course, read our suggestions or ask a colleague to do everything as professionally as you can. Know that your attempt can be stressful and nerve-racking, but you have nothing to lose. So give it a try. If you don’t try, you will never know!