Talking about money is a social taboo for society, and to the average person, it can feel awkward to approach someone asking for more money.
People feel like it’s greedy to ask for a raise, but the truth is that there’s often no harm in asking if you go about it with tact and humility.
Asking for a raise is a pivotal aspect of career growth, signaling your confidence in your contributions and recognizing your value within the organization. However, this conversation requires careful planning and strategic execution. In this comprehensive guide, we'll walk you through the process, providing valuable tips, scripts, and answers to common questions.
Key Takeaways
Asking for a raise is a nuanced process that demands a strategic mindset and professionalism. Here's a guide on how to get started before you actually ask:
Before initiating the conversation about a raise, meticulous preparations are crucial. Here's what you should do:
By meticulously preparing for the conversation, you demonstrate professionalism and increase your chances of a successful negotiation. Remember, the more thoroughly you prepare, the more confidently you can navigate the discussion and advocate for your well-deserved raise.
Here are 3 important tips to follow when you are ready to approach your boss.
Always ensure that when you’re ready to give the “Ask,” you have your boss’s full attention. Catching them at the end of a long workday or between meetings is never ideal.
Having divided attention runs the risk of dismissal before you’ve even laid out your case. You want to ensure you have the time to demonstrate that you’ve actively considered why you’re worth the raise and investment.
Once you’ve psyched yourself up about how much you’ve improved at your job, get some numbers. To put it simply, numbers talk, and bosses love the language of numbers.
If you can actively show the value of having someone stable, committed, and resourceful in your position, then your boss is much more likely to see the merit in giving you a pay raise. Bring all those incredible, boring numbers and sell your worth to the company.
How much have you increased sales? How much productive work do you pump out in a day? Have you contributed to any large projects? Is there a trend of positive feedback on your work?
In addition, the preparation will show your boss that you’ve actively considered asking for a raise and have done a reasonable self-assessment to justify the “Ask.”
Support your verbal request with a well-crafted document outlining your accomplishments, market research, and reasons why you deserve a raise. Here is a sample email template to use:
Subject: Request for Salary Review
Dear [Manager's Name],
I hope this email finds you well. I am writing to request a salary review based on my achievements and contributions to the team over the past [timeframe]. I have attached a document summarizing my accomplishments and market research supporting my request. I believe that an adjustment to my current salary is reflective of both my dedication and the market standards.
I am open to discussing this further at your earliest convenience.
Thank you for your time and consideration.
Best regards,
[Your Name]
Always make sure you conduct yourself with confidence and self-assurance. Use simple yet precise language to sell yourself! Use the numbers and data you’ve collected to tout your achievements with the company. Now isn’t the time to be modest.
At the same time, you should never take credit for ideas that aren’t yours or achievements you aren’t responsible for. Think about the timing of your raise, too.
Is the company in a slouch right now? Have there been some recent layoffs? It might be better to bide your time and wait for a more opportune moment.
If you’re trying to promote yourself as a long-term investment for the company, it’s not wise to appear to be pouncing on a raise opportunity while the company is struggling or has been set back.
Should they say no, have a realistic number for the salary increase you want based on your merit and have a counteroffer on hand.
Getting a raise isn’t guaranteed, but being honest, forthright, and prepared in your meeting with your boss is a great way to get them on your side and see the value you bring to the company.
The amount you request should align with your research and the value you bring to the company. Aim for a figure reflecting industry standards and your contributions.
Optimal times include after successful projects, positive performance reviews, or during salary review periods.
Be patient, allow your manager time to review your proposal, and follow up professionally. Be prepared to discuss further if needed.
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