When you first start out in your career, asking for a raise or promotion may seem like a distant dream. However, there will likely come a time when your wages stagnate, and you will need to take matters into your own hands.
The following guide will show you how to ask for a raise in a respectful and professional manner. It is important to remember that it is your skills, experience, and value that set you apart from the competition, so be confident in what you have to offer!
Let's get started.
When Should You Ask For a Raise?
While every employee should feel safe and able to ask for a raise at any time, it's important to be strategic about when you make your request. For example, it wouldn't be wise to ask for a raise immediately after being hired, as you have only just agreed to a starting salary.
Generally speaking, the best time to ask for a raise is when you have taken on additional responsibilities or produced exceptional results in your role. If you can demonstrate that you are an asset to the company, you are much more likely to be successful in your request.
How To Be Confident in Your Abilities
Want to see a larger figure on your paystub each week? Before you even think about asking for a raise, it's important to be confident in your abilities. A lack of confidence will only weaken your argument, and may even lead to the rejection of your request.
One way to boost your confidence is to research what others in your field are earning. This information can be found online, or by talking to friends and colleagues in similar positions. By knowing what you're worth, you will feel more comfortable asking for a raise that reflects your true value.
Another way to feel confident in your abilities is to practice what you're going to say. Role-playing with a friend or family member can help you feel more comfortable when speaking to your boss. It's also important to be prepared for any questions they may have, so you can answer them confidently.
How To Prepare and Present Your Request
Requesting a raise shouldn't be something you do on a whim, or as a casual suggestion to your boss. You should take the time to prepare and present your request in a clear, concise manner. Let's take a look at some tips on how to do just that.
1. Do Your Research
Before you even think about asking for a raise, it's important to do your research. Know what the average salary is for your position in your area, and have evidence to back up your request. If you can, find out what the company's budget is for salary increases, and try to make your case for a raise based on that information.
2. Know Your Value
Don't just focus on what you're worth in terms of salary. Think about the value you bring to the company as a whole, and communicate that to your boss.
Are you a top performer? Do you have a lot of specialized skills or knowledge, like generating 1099 forms or using complex software? Can you take on extra work when needed? If the answer to any of these questions is yes, then make sure to highlight that in your request.
3. Timing Is Everything
When it comes to asking for a raise, timing is everything. You don't want to ask for one when the company is going through a difficult time, or when there's been a recent change in management. The best time to make your request is when things are going well for the company, and they may be more likely to say yes.
4. Have a Clear Plan
Don't just walk into your boss's office and ask for a raise. Come prepared with a clear plan of what you would like to happen. For example, you may want to propose that you receive a certain percentage increase, or that you get a raise at specific intervals (e.g. every six months).
5. Don't Be afraid to Negotiate
If your boss says no to your initial request, don't be afraid to negotiate. There's usually some wiggle room when it comes to salary increases, so try to come up with a number that's agreeable to both you and your boss.
6. Be Ready to Explain Your Reasons
If your boss does agree to give you a raise, be prepared to explain your reasons for wanting one. They may want to know why you think you're worth more money, and what you plan to do with the extra cash.
Asking for a raise can be a daunting task, but if you follow these tips, you'll be sure to make a strong case for yourself. And who knows – you may just get that raise you've been hoping for!
If you want a pay rise, remember that bosses want to see the value you bring to the company. They're not going to just hand out cash willy-nilly, so demonstrate that making your W-2 form is worth their while. Document your successes, keep track of how you've helped the bottom line, and be vocal about what you want.
Remember, it's a negotiation. You might not get everything you ask for, but approaching the topic with confidence will only help your case.