How To Ask For A Raise: 5 Tips For Success
It might be challenging to ask for a raise. Here are a few guidelines for approaching your manager boldly and professionally.
Why do you want a raise?
If your work tasks have changed or your performance is good, ask for a raise. Most individuals dread asking for a raise. If your firm doesn’t give yearly raises and you’re not up for a promotion, requesting may be your only option. It’s okay to ask for a raise; most managers and business owners want to help their staff.
Before requesting a raise, list your reasons. Don’t ask for more money to fulfil personal obligations. You should base your request on your performance and usefulness to the team and organisation.
How much should you ask for?
Pay raises are on an average of 3%. However, a 5% raise is a respectable wage boost, and anything more is remarkable. You might look for industry standards based on your justifications for a raise and how long it’s been since your last increase.
Start with a lower percentage. You deserve a raise but be realistic about your efforts. Consider the employer’s perspective if your raise request is due to extra work or a new role. Try learning how to negotiate.
When is a good time to ask for a raise?
There’s no perfect time to ask for a raise but to apply common sense. Don’t ask for a raise if your firm or employer is going through a challenging period. Consider your company’s salary raises period. If increases are usually given in January, ask in November or December.
If there is no typical increase method, ask when your employer is satisfied with your performance, during a great quarter, or when everyone isn’t pressured.
How to ask for a raise?
Give yourself and your manager time to prepare. Schedule a meeting with your supervisor to indicate that you respect their time. If your boss is busy, skip that day.
Once the meeting is planned, prepare and present your request well. Use credible facts to negotiate your salary. Do your homework before approaching the manager.
Tips for asking for a raise
List your contributions to the company during the past year.
Describe how your successes have benefited your department and organisation. Put it down in numbers. That makes an impact.
Know what competitive remuneration looks like for your position.
Salary.com and PayScale offer free salary reports to compare your pay to similar jobs. LinkedIn can also help. You can check job postings or use average wage ranges. Consider your industry, employer, and perks. Ask local recruiters and hiring managers to review your CV and give you a realistic compensation objective for your job and experience.
Let your manager know what’s in it for them if they offer a raise.
You’ve already outlined what you’ve done for the organisation, now explain your plans. Present your goals, how they benefit the company, and how you’ll attain them.
Be confident.
Request a raise with confidence. Yes, it’s daunting, but you have supporting evidence: your request and salary research. Expect criticism and a no.
Pen your request.
Your manager may need to communicate your pay rise request with their superior. Provide a brochure summarising your request, compensation ranges, and corporate perks.
Stay optimistic; you have nothing to lose by asking for a raise!
