Asking for a raise in your pay can be quite tough. But if you feel that you have done more than what your job description entails, provided your company with loyalty and passion not found in other employees, and been in your position for a while now, then maybe it’s high time that you ask for an increase in your salary.
How do you do it, exactly? Asking for a raise can really be a stressful prospect. Sometimes the thought may overwhelm you so that you give up on the whole idea and hope that your superiors realize that you deserve a raise on their own. If this happens with you, you’ll already have lost before having had the chance to get to the negotiating table.
One key to successfully negotiating for a salary raise is timing. In this instance, the old adage applies: timing is everything. If you want to increase your chances of really getting your message across, know when to ask.
You can start by knowing the standard practices in your workplace. Does your employer conduct annual performance reviews of its employees? Many corporations make their decisions to increase the pay rates of their workers after evaluating their performances for the past year. If so, then your best shot is to perform well in this review process and exceed expectations.
However, if you still haven’t received a raise after achieving an excellent performance review, then the best way to go about it is to approach your immediate superior and have him or her set up a meeting with the one who is in charge. Once a meeting is set, prepare your statement and arguments on why you believe you deserve a raise. Just be sure that all your points are valid.
It is also important that you do some research on how much money other corporations are paying their employees whose job description is the same as yours. This will give you an idea about the average salary range and what is the acceptable amount your employer can afford.
In preparing your arguments, make a list of all the achievements and successful projects you have been a part of. Point out how much effort you have put into each project and how each project helped the company. Documenting what you have done will make it easier to justify a raise.
Always make sure that you discuss your part but do not leave out other people, especially if these achievements are products of team effort. Don’t hog all the credit but make sure you put yourself in the spotlight.
Avoid asking for a raise when your company is undergoing serious financial setbacks. Your chances will be seriously reduced and you will risk looking like you’re not a team player. If your company recently lost a big client, then you need to postpone your plans until such time that your employer has financially recovered and made some significant gains.
In summary, asking for a raise can be nerve-wracking. But if you feel that you have done enough to deserve an increase in your salary, then you will often need to go and ask for it. Just make sure that your arguments have enough justification and leverage to prove your point. Also, time your request for a raise right. Doing the right thing at the right time brings the best chance of getting the results you are looking for.