7 Best Ways To Ask For A Raise
For many industrious and ambitious professionals, being highly compensated for their time and talent is an important component of their career advancement. However, for many professionals, asking for a raise in salary remains a daunting proposition. Be confident, though, in knowing that there are steps you can take to increase the likelihood you’ll receive the pay bump you deserve. Here are seven easy ways to ask for a raise at work to help get you that pay increase.
1. Make Your Ambition Known
It’s important that you openly communicate what you want and solicit feedback. Don’t think that your manager can read your mind. Instead, open clear channels of dialogue and make it clear that you want to be promoted and compensated accordingly.
Too often employees simply think their manager understands what they want when, in fact, they don’t have a clue. So, speak up and ask for what you want. This will communicate to your manager the seriousness of your request and your commitment to the organization.
2. Toot Your Own Horn
It might seem shameless, but it’s critical that you be your own PR team when it comes to communicating what you have accomplished. Not only is it important to exceed expectations, but you need to make sure the right people know when you have.
Many professionals feel reservations about promoting what they accomplish out of a false sense of modesty and consequently can be unintentionally taken for granted. Don’t let this happen to you. Instead, proactively communicate what you have accomplished so that when the time comes for a promotion and raise, the decision will be an easy one for management.
3. Assume More Responsibility
The expression “act as if” never rang more true. If you want the salary to match your responsibilities, go above and beyond your current job description and begin to complete the responsibilities of your future self.
To accomplish this, you’ll need to manage your time effectively and make sure that your efforts are in line with the core strategies and tactics of your organization. In no time, you should find yourself in the role you covet with the salary to match.
4. Do Your Homework
Before engaging in a salary negotiation, it’s vital that you do the necessary research about your role and compensation so that you are on solid footing. You need to have a command of how the current and future market likely values your role and responsibilities. Having this background information will make your case more compelling as well as provide you with realistic expectations in your negotiation.
Refer to sites such as Salary.com, Glassdoor and PayScale in assessing the marketplace. Moreover, understand that it’s better to give a precise number for your salary requirements rather than a range. In other words, instead of asking for compensation between $70,000-$80,000, ask precisely for $79,000. Managers will be more receptive to exact figures rather than estimates.
5. Rehearse Your Pitch
Asking for a raise is not one of those instances where you can just “wing it” – you need to practice your pitch. Like any good performance, practice makes perfect and you want to come across as credible in your request.
In your preparation, try to anticipate questions you may encounter from your manager. In some ways, you can think of it like interviewing for a new job. You may even consider role-playing with a colleague or friend who successfully received a raise in the past to better prepare yourself for the discussion.
6. Discuss the Future
Loyalty and investment matter to managers when deciding on salary raises and affiliated promotions. Thus, make sure you communicate and demonstrate your commitment to the company. In fact, start your salary raise negotiations by stressing your loyalty to the company and how much you enjoy your working relationship.
To illustrate your commitment, consider volunteering for a project or creating one proactively that you think will benefit the organization and your manager. Trumpet how the effort will enable the company to become more profitable and grow.
7. Embrace Hearing “No”
It might sting at first, but don’t let a “no” to your salary raise request get you down. Don’t think that just because you get an initial “no” that all is lost for getting a raise.
Instead, interpret it as an opportunity to set up a performance evaluation featuring definitive goals for a salary change prior to your next annual review. This will demonstrate how serious you are about the company and your career there, therefore increasing the likelihood and speed by which you can expect to receive the raise you deserve.
Moreover, consider asking for other forms of compensation in the meantime such as more vacation days, company perks like gym memberships and/or professional development assistance. Keep in mind that some of the best business minds thrive at turning adversity into success.
If you’re ready to tackle the next level of success at your company, take some time to figure out the best way to show your managers you deserve a higher paycheck. By using these seven tactics, you can increase your chances at promotion and job satisfaction.