Asking for a Raise Advice
Knowing how to ask for a raise is one of the most important business skills you can develop. After all, if you work hard and make money for your employer, shouldn’t you be rewarded for it?
The following suggestions should help guide you through the process of asking for a raise. While these tips won’t guarantee success, they will help make it as painless as possible.
Know Your Worth
Before you ask for a raise, it’s critical that you know how much you’re worth. Try making a list in which you document your job skills, accomplishments, length of service, and contributions to your employer.
Next, do some research and learn about the standard salaries in your field. A wealth of information is available on the Internet, especially at sites which offer salary surveys. With this information in hand, you can then decide whether to increase or decrease your expectations for a raise.
Be Aware Of Your Employer’s Financial Health
You need to examine your employer’s financial health before making a request for a raise. If the company is currently experiencing financial difficulty, your chances of getting a raise are very slim. If, on the other hand, the company is achieving record profit margins, this would be the perfect time to ask for a raise (especially if you helped them achieve those profits).
Aim High
If you would be satisfied with a five percent raise, there’s no reason to just come out and say so. The objective is to get as much money as possible, so why not ask for a seven percent increase and see what happens? If the company can’t or won’t provide this raise, you can then negotiate down to the figure you were satisfied with in the first place.
Learn About Your Supervisor’s Current Mood
Before scheduling an appointment with your supervisor to request a raise, make sure to observe his current physical and emotional state. Is he in the middle of a messy divorce? Has he been having health problems? If your supervisor is going through problems in his personal life, you might consider waiting until later to ask for the raise.
Prepare Your Case
When you do talk with your boss, you’ll want to be able to list reasons why you deserve a raise. Cite specific examples of how you’ve improved productivity and profitability at the workplace. While asking for a raise isn’t exactly an argument, some supervisors will require more convincing than others.
Have A Backup Plan
What if you fail to get the raise you requested? If this happens, it’s always good to have a mental backup plan in place. This might involve quitting your job (always give notice and always have another job lined up), accepting a lower raise or compromising with additional perks or vacation time.
Your decision should also be based on past experience. If your supervisor has repeatedly turned down your requests for a raise, then he or she may simply never give you one. If that’s the case, then you need to decide if you’re willing to continue working at you current salary.
Talk To Your Supervisor
Once you’ve decided what you’ll say and made a backup plan, it’s now time to talk to your boss. Try to make an appointment to speak with them towards the end of the workday. If you don’t get your raise, it will allow both of you to avoid an awkward day around the office (especially if you see each other often).
Maintain eye contact, dress professionally, and state your case as to why you feel you deserve a raise. Always stay calm and be polite, especially if you don’t get the raise you wanted. If you do get it, make sure to thank your supervisor and shake their hand before leaving their office to celebrate.