Asking for a raise can be the best way to get the compensation you deserve when your duties have changed significantly or when your performance deserves a boost.
Standard wage increases from 3% (average) to 5% (in exceptional cases). Asking for a 10% to 20% increase, depending on the reason, is one way to start negotiations.
Ask for a raise at an appropriate time - not, for example, if the company has recently laid off workers.
This article is for employees who want to negotiate a raise.
Most people cringe at the thought of asking their boss for a raise. If your company doesn't increase the regular annual salary and you're not asking for a promotion, maybe the only way to get the increase you know is that you deserve it. You should understand that it is perfectly acceptable to ask for a raise, and most companies, managers and entrepreneurs want to take good care of their employees.
While the process may seem intimidating and uncomfortable, it doesn't have to be, especially if you know your boss. When you do your research and are ready with facts, you'll feel more confident initiating the conversation.
Tips for asking for a raise
1. A list of your achievements over the last six months of the past year and your time with the company.
Describe how your accomplishments are having a positive impact on your department and the entire organization - and provide specific numbers and statistics when possible. For example, you might say, “In the past year, I generated 5,000 leads for the company, which is an 8% increase over the previous year. Resulting revenue reaches $58,000 in new business."
It's hard for any manager to turn down a request when depicting numbers like these. The stronger the data you provide, the bigger trap you have for a well-deserved raise.
Shows the work you've done for the company and the effort you're putting in to help, it also shows that you're a loyal worker. Loyal employees gain the trust of your employers who will help your case.
2. Know what a competitive salary looks like for your position.
On sites like Salary.com and Payroll, you can get a free salary report to see how your current salary compares to similar positions elsewhere. LinkedIn is a great resource for this as well. You can either review job posts on the site or use LinkedIn's own Average Salary Ranges listed on job posts. The Industry You are in, your employer, the size and your advantages. Some companies just don't pay well, that's why it's best to consult hiring experts whenever possible. If you have any connections with local recruiters and hiring managers (perhaps on LinkedIn), ask them when you look at your resume to provide you with a realistic target salary for your position and experience.
3. Let your boss know what's up for you.
Note that your boss doesn't care about your mortgage payments or the vacations you want to go. Your boss takes care of what's in it for you. You've already explained what you've done for the company, but you also want to explain your plans for the future. Present your goals, how these goals will benefit society and how you will achieve them.
4. Be confident.
Be confident when asked for a raise. Yes, it's intimidating, but you need supporting evidence: the reasons you identified for your request and the research you've done, comparable salaries. Be ready for some pushback and know that the answer might be no. When you raise that, ready to keep working, hard (or harder). You knew you should get a raise; now show your boss you deserve it.
FYI
The workplace causes a lot of stress even when you're not negotiating a raise. Here are some tips on how to reduce stress at work.
5. Make your request in writing.
Chances are, your boss has a boss with whom you must share your wage or salary increase request. Provide a handout summarizing your request, comparable numbers, and the benefits the company derives from your efforts.
How much of a raise should I ask for?
The average salary increase is 3%. A good raise ranges from 4.5% to 5%, and nothing more than that is considered exceptional. Depending on the reasons you cite for a raise and the length of time that has elapsed since the last raise, you could be requesting a raise in the 10% - 20% range. However, the higher the percentage you request, the better your reasons should be. For example, if you took a position with little travel and now you're on the road more than half the time, asking for 20% isn't unreasonable because your duties have changed significantly.
However, if you're asking for a raise because it's been more than a year since the last one and you've continued to do well in your regular duties, start with a reasonable percentage. You still deserve a raise, but you need to temper your request with the reality of your posts.
Tip
If your raise request is a result of increased work or a change in position, it may help to change the work from your employer's perspective. We're writing a guide to determining employee salary ranges that you can use to get a leg up on negotiations.
When is a good time to ask you for a raise?
Some people say it's never a perfect time to ask for a raise, but use common sense. Don't ask for a raise at a sensitive time, like when your company is laying off employees, your department had low pay for the quarter, or your boss is dealing with a difficult personal situation.
Consider your current pay raising practices. If you usually give raises at the first of the year, approach your boss in November or December. This way, they'll give you an opportunity to consider your request and work with your bosses, rather than asking them to change their decision after they've figured out their rate increase.
If it's not a standard practice for resolves, try to make your request at a "good" time, like when you know your boss is very happy with your work, during a successful quarter, or a time of year when everyone isn't stressed.
How do I ask my boss for a raise?
Give yourself time to prepare for the interview, and give your manager time to consider your request.
Schedule a meeting with your boss in advance instead of knocking on your door and having your request jumped at you; that shows that you care about your time. If your boss is busy on a specific day of the week, scratch that day off the list.
After you've planned the encounter, treat your prep like a college research report: Find credible information here and cover the following points in your salary negotiation.
The best way to ask for a raise is to do your research and know your worth, then approach your boss in a professional manner. Here are five tips on how to ask for your raise to be successful.
What should I do after I get a raise?
It's unlikely that you will say yes to your boss at that first meeting. In most cases, they will ask for the time, discuss your request with other decision makers and get back to you. It is appropriate to ask for a time frame when making a decision. For example, you might ask, "Is it OK if I have the option to get back with you guys two weeks from today if I haven't heard anything?"
Next, be prepared for a no. A negative reaction could be based on factors you are unaware of or have no control over. If that happens, ask what you can do to qualify for a raise in the future. A good boss will give you the reasons for the rejection and tell you how you can improve your chances for better compensation in the future.
If you are not satisfied with the reasons why a raise is not possible or with the proposed path to receive more compensation, it is time to evaluate your career and your desire to stay with the company or company. In the meantime, stay positive.
If you get a yes your professionalism. Express your gratitude and keep up the good work. It's also important to keep a good relationship with your co-workers. If you brag to others about your pay increase, your boss will regret it, help you, and create friction in your team.
Requesting a raise doesn't have to be intimidating,
Requesting a raise can be stressful and uncomfortable, but you have nothing to lose by trying. Prepare by identifying your accomplishments and considering the value you bring to your team. Research the market level for your role elsewhere to determine whether or not you are being adequately compensated. Consider the cost of employee turnover to your employer and compare how much of a raise you're asking for. If all of these factors come together to suggest giving you a raise that would make sense to contact your employer, the odds you get are good. Even if you don't do that, but you'll have your benefits in front of your employer and let them know you want compensation adjustment,
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