Many people go their whole careers without ever asking for a raise. This is particularly true of women. As a result, they don’t receive the salary they likely deserve. There are several reasons for not asking. Some include fear, feeling awkward, or not knowing how.
But bosses expect employees to ask for raises. That doesn’t mean you‘ll receive one, but it does mean you’ll plant the seed. But how do you plant this seed? What should you do if you want a raise?
Asking for a Raise Is Normal
Keep in mind that managers deal with salaries all the time. You may be nervous about going to them for a raise, but they see it as another day at the office.As long as you haven’t asked for something that is just too high for the market and you have a good track record, you won’t damage the relationship or fall out of favor for asking. Even if the manager says “no,” you’ve planted the seed for the future.
Remember, you’re not asking for a gift; you’re asking for fair market compensation for your work. If you’re a good employee, it’s in your manager’s best interest to keep you. And that may mean a raise.
Know Company’s Financial Health
If the company is having financial problems or laying people off, this is not a good time to ask for a raise. If you’re not sure, check out news stories for your industry. It may be a hint as to what’s happening with your company.Read your company’s quarterly reports. Are they running in the black, or are their issues? If everything is fine, you can use this positive knowledge when asking for a raise.
Timing to Ask for a Raise Is Everything
If your manager is under the gun to make budget or going through other stressful moments, there are better times to ask for a raise. If she is feeling budgetary pressure, so is her boss. Remember, your manager may not be the only decision-maker. She may have to go to her manager for approval.Also, the end of a fiscal year is usually a good time to ask for a raise. This is the end of a 12-month period when companies make budgetary decisions. Employers will be making compensation and hiring decisions at this time.
Research Comparative Salaries
When asking for a raise, going in too low is as bad as going in too high. Do some research on what the national average is for your position.
The national average for a pay increase is 3–5 percent. But if you feel you aren’t paid on par with others in your position, don’t be afraid to ask for more. You can always negotiate if your skills and history are excellent.
Indeed has a pay calculator that can give you a pay range based on industry, location, and experience.
Make Sure Request Is Clear
Don’t beat around the bush. Be very clear as to what you want. Don’t make the manager pull it out of you. You have an appointment with them, so make it count.Don’t just say you would like a raise—say you would like a 5 percent raise or whatever you want. Be definitive. It starts a conversation and lets the manager know you have thought about it and know what you want.
Have a Record of Positive Reviews
You’ve probably received “good job” emails throughout your time with the company. Print them out and bring them to the meeting.If you’ve had excellent reviews, those should be presented as well. You’re letting the manager know that you’ve been a good worker. This goes much farther with a manager than just saying you want a raise.
Provide Evidence of Past Achievements
Even if you don’t have any “good” job emails, you can still bring evidence of your achievements.Suppose you’ve built a website for the company; state that. Have you increased sales by 30 percent in the last year? Then remind the manager. And remember, if you’re part of a team, point out what you’ve contributed to the cause.
Describe Future Self
Past accomplishments are great to present to a manager, but it doesn’t stop there. Let your boss know what future actions you have planned.If, say, you plan on earning a master’s degree, let her know. Are you striving to participate in a complex project? Highlight that.
Let the manager know that you’re an asset who wants to be an even bigger asset.
Don’t Discuss Personal Reasons
Never say merely, “I need the raise.” Frankly, the manager doesn’t care about your personal needs. She only cares about what you have done and can do for the company.Telling the manager that you’re about to lose your house will only hurt you. Instead, give the manager a reason to advocate for you to her boss.
Practice in Front of Camera
Take the time to practice in front of a camera so you won’t stumble when you’re with your boss. Have a friend help you. Present your raise request to the friend and have them play devil’s advocate. You’ll be prepared for any objections.Email When Working Remote
If you work remotely, you may need to email your manager. Approach an email the same way you would if you were in front of your manager.Ask to discuss compensation, present your accomplishments, and clearly request what percentage of an increase you want. Make sure you ask with the percentage after you give your accomplishments.
Don’t Be Afraid to Ask
Chances are you won’t receive a raise if you don’t ask for it. Swallow hard and forget about how awkward you feel.You’ve done an excellent job and have the right to ask.
The Epoch Times copyright © 2023. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
