When you have been at a job for a while, it is normal to expect a raise. Many people miss out on a higher salary because they do not know how to ask for a raise or feel uncomfortable broaching the subject. If you feel you have earned a raise, why not ask. By using the right strategy, you have a better chance of success.
Ask for a Raise When You Deserve It
If you want a raise or a promotion, you have to demonstrate you earned it. Your manager will not want to pay more for you to do the same work. Show that you deserve the raise by working harder and taking on new and challenging assignments. When you do talk to your boss about a raise, show off your accomplishments. Make it easy for your boss to see why you deserve the raise and to justify it to his boss.
Be honest with your manager about what you want out of your job before you ask for a raise. Let them know how you want to advance in the company. Then, ask them what you need to do to get there. Listen to their feedback and then work to do what they say. Your boss can tell you what you need to improve to be promoted or to earn more. Once you know what to do, the only question is how quickly you do it.
Asking for more money can be awkward. You expect your boss to turn you down and feel nervous. To calm your worries, practice beforehand. Prepare how you will phrase your request and how they might respond. If you practice enough, you will feel more confident and prepared when you talk to your boss.
Take on More Responsibilities
Start taking on more responsibilities. Look at the job title you want, the skills needed for that job and take steps to acquire those skills. If you already have the skills, it may seem obvious that you should get promoted. Learn more about your company, listen to feedback and work to make yourself invaluable to the company.
Know the Market
A raise is easy to ask for if you know that you are underpaid. Before talking to your boss, research the market for your job. If other companies pay more for the same job, this can support your case for a raise. Your boss could lose a great employee because they are paying less than the market rate. Facts and data are a great way to back up your raise request.
Show Off Your Accomplishments
Did you increase sales by 30 percent? Did you lower inventory costs through initiative and negotiations? Look at your accomplishments to see how you add value to the company. These accomplishments show why you deserve a raise and how you can help the company in the future. Using numbers to back up your raise request can be very convincing. Instead of an emotional plea, you should support your request with hard data that shows just how much the company needs you. In a nutshell, be prepared, have your facts in order and show your boss how you have contributed to the company’s business objectives.