If you strongly believe you deserve to be paid more for your work, you have two options: look for a higher-paying job (which comes with its fair share of anxieties) or ask for a raise. It’s astounding how some people can go their entire careers without ever requesting a pay rise. Most people feel awkward about bringing it up or are unaware of how to do it, coupled with the fear of sounding greedy or overestimating one’s worth.
But remember this: asking for a pay rise is an entirely normal aspect of having a job. Yes, it’s not easy to walk up and ask for it, but as long as you know how to do it, you can pave the way to earn significantly more money. Wondering how? Read on to find out!
Choose the Perfect Timing
Be very conscious about when you approach your manager. If they are having a bad day, worried about company budgeting, or in a bad mood, they’re unlikely to succeed in discussing a salary raise.
Instead, carefully select a day when the company has received an excellent review for a high-profile project or when your boss has praised your work lately. In short, be aware of your company’s work environment, your manager’s mood, and what’s happening with your work before approaching this rather sensitive discussion.
Go For If Your Work Has Been Excellent For A Year Since the Last Salary Was Set
Most companies have a salary review every year that is in conjunction with performance evaluations. However, if your employer doesn’t have such a structure, you must figure out when you can bring up the subject yourself.
If it has been a year since your last salary was set and you’ve done great work in that period, requesting a pay rise is entirely reasonable. However, if your salary has increased at any point in the last 12 months, it’s better to wait a while longer. The same applies when you haven’t completed a year at your present job.
As much as your time at the company matters, so does your work. If you’ve been lousy in meeting deadlines or your boss hasn’t been pleased with your overall work, a request for a pay rise will come off as absurd. It’s advisable to spend a few months improving the quality of your work before approaching this conversation.
Be Aware Of Your Company’s Budget Cycles
If your company gives salary raises once a year, keep an eye out for when they usually happen. If you’re unsure of when this may be, feel free to ask your manager or HR. Some companies offer raises around the anniversary of your start date, while others assess everyone’s salary simultaneously while reviewing the budget process.
Once you know when that happens, you should plan to discuss your salary raise request at least a month before the formal process begins. If you delay it for too long, the decision will likely already have been made, meaning you will have to wait another year. Schedule a formal meeting with your higher-ups to discuss compensation changes; don’t expect them to pick up on bits of conversation or hints you make in passing.
Understand the Salary Trends For Your Job
You should have a comprehensive understanding of the salary landscape for the type of work you do, and this should be based on your geographic area since the pay can vary drastically by region. If you’re being underpaid for the market, you can use this as a valid argument when requesting a raise.
Know Your Company’s Salary Structure
Some companies follow rigid policies regarding how much a pay raise anyone can get at a given point. Some rarely offer more than a five-percent raise, while others may be more generous. Understanding how your company handles raises will allow you to know what to expect. It can also help you decide on your next move if you feel the potential raise may not be enough.
Know What to Say
Contrary to what most people think, you don’t have to come up with an elaborate presentation of why you need a pay rise. A short explanation of why you feel you have earned the right to ask for one is often sufficient. You can also talk about how much your contributions have grown in the past year. For example, you can start like this:
“I am very appreciative of the opportunities I’ve had to increase my work responsibilities – and I’m happier that I was able to get great results in those areas and even exceed the goals we set for ourselves. Could we discuss adjusting my salary to reflect my growth and contribution to the company?
How to Take “No” or “Maybe” For Answer
If your boss doesn’t give you a yes straight away and says that they will think about it, don’t be disappointed; most managers won’t agree right away. But if you get a “maybe,” you should be clear about your next steps.
- Be ready to ask something like, “Can I check again with you when we meet on the 15th?”
- However, you can wait if you’re confident your boss will follow up.
- If you get “no” for an answer, ask, “Can you tell me what I can do to earn a raise in the future?”
- A good manager will explain what you should do, and you can use that feedback constructively. However, if your boss can’t give you any specifics, it could signal that they’re just unwilling to pay you more.
Final Thoughts
When you decide to ask for a salary raise, you should be confident in your pitch. Don’t undermine your position or abilities using words like “I feel/think/believe,” etc. Such words will only make you appear less confident and uncertain about your request. The key is to walk into the conversation knowing a hundred percent that you deserve a raise and communicate your confidence using assertive but respectful words and phrases and an even tone.
If your request was denied and you feel you’re not being compensated for your progress, it may be time to look for a better job.
