Here Is What You Should Do
If you’re like most people, you probably have a lot of questions about asking for a pay raise. How do you know if it’s even worth asking? When should you ask? What do I say? Will they think I’m greedy or entitled or just plain nuts? Well, we’ve got some answers. If you want to make more money at your job without getting fired, read on!
Do Your Research
Before you reach out to your boss and ask for a pay raise, research what the market rate is for your position. To do this, you can use a salary comparison tool or online salary calculators. Alternatively, you could contact a third party website like Glassdoor that aggregates information on salaries in different industries and job roles to give you an idea of how much money people in similar positions make at different companies.
When learning about what other people are making at your company (and others), take into account that there may be some variation between job titles and experience levels within each role. Once you’ve done some research on the current market rate for someone with the same title as yours in your company or industry, it will be easier to ask for a higher base salary from your employer without seeming unreasonable or greedy when requesting an increase in pay
Prepare an Arsenal of Achievements and Accomplishments, Backed Up by Numbers
Think about the accomplishments and achievements you’ve made over the last year. Put those on a list, along with all of the tasks that contributed to them. Then, see if there is a correlation between your work and the company’s growth or bottom line. If not, consider how you could adjust your responsibilities in order to contribute more directly to these metrics.
Now that you’ve created this list of accomplishments and contributions (with numbers!), take it one step further by creating an Excel spreadsheet where all of this information is organized neatly into columns and rows—like so:
- Achievement/Accomplishment
- Task/Task Name
- Number Of Times Completed
Practice Asking for the Raise by Yourself, in Front of a Mirror, or With a Friend or Family Member
You should practice asking for a raise in front of a mirror, with a friend or family member, or even on video. When you’re doing this, pretend that you’re talking to your boss and be sure to get into the mindset of someone who knows she deserves more money. It’s okay if it feels awkward at first; just keep practicing until it feels natural.
You may also want to have an answer prepared for any potential objections your boss might have about giving you a raise. For example: “I know I haven’t been here long but…”
Time it RightÂ
It’s important to choose a time when you can focus on the conversation and not be distracted. For example, don’t ask for a raise while you’re in a hurry. You will be more likely to get a negative response if your boss will have to think about it while they are running out the door or hectic with other tasks at hand.
You also don’t want to ask for your pay raise right after someone has done something wrong and needs to be disciplined in front of others who may pressure him into saying no just because he doesn’t want anyone else thinking badly of him. In other words, don’t ask for a pay raise when everyone is feeling bad about something else!
Choose the Right Setting and Time
When you ask for a pay raise, it’s important to choose a time when both you and your boss are relaxed and not rushed. You also want to select a location where you can be comfortable talking about money with your boss. The setting should be private so that no one else knows what’s going on. And finally, you want to make sure that the other person will be receptive to your request before approaching them about it in the first place!
Don’t Forget To Negotiate
When you’re ready to ask for more money, it’s important that you negotiate. In order to successfully negotiate for a higher salary, it’s important to know what kind of benefits your potential employer is willing to offer.
While there are many ways in which negotiation can affect your salary and compensation package, some common questions (and answers) include:
- What type of raises does [company] offer?
- Are there other incentives or bonuses?
- Are there any policies concerning maternity leave or sabbaticals?
Ask For It! If You Don’t Ask, You Don’t Get
If you don’t ask, you don’t get it. You might be surprised at how positively you are received!
Conclusion
If you’ve done your homework and prepared yourself to ask for a raise, the next step is to do it! Don’t be afraid of rejection. Remember that if your boss says no, they’ll probably give you feedback on what they would like instead. And if that doesn’t work out either…there’s always another job waiting for you somewhere else!
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