If you want to make more money and still want to maintain the same job, consider asking for a salary increase. Asking for a salary increase is a sensitive discussion and a step that requires proper planning. You will also need to convince your supervisor that you deserve the increase and ask for the increment at the right time. In this article, we highlight the best time to ask for a raise and how you can make this request.
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When to ask for a salary increase
Many people who quit their jobs state poor pay or low salary as the top-most reason. Many job opportunities present advantageous conditions for salary negotiation. Organizations are lacking the ability to be choosy like they were a few years ago. If you feel and believe that you deserve a salary increase, there is a right time to ask for an increase. Follow these steps to request a salary increase:
Examine your tenure
If you just got employed for a job or allocated a new role in the same job, do not ask for an increase in pay before six months have elapsed. Before that time, it is not enough to prove yourself as an asset to the company. After six months, there is no bad time to start a salary negotiation conversation. Move forward with this discussion, even if you are unsure of the company’s financial status.
Learn when the company performs salary reviews
Find out how the review process works and the time. Ensure you initiate the discussions when the window is still open before the annual budget adjustments are closed. Ask HR when the compensation reviews happen to avoid missing the opportunity. If there is no transparency on this issue, this is a red flag on its leadership structure.
After a big accomplishment
If you just sealed a deal or landed a huge sale, it is a good time to request a salary increase. Ride on the momentum of your success, and you may find yourself in a perfect position for the increase.
Resolve on what to do if they reject the request
If the company is not performing well financially, a pay increase is unlikely. However, you can discuss other benefits and perks. Take a holistic approach when negotiating your pay. Take into consideration retirement savings, commuter allowance and other benefits. If neither an increase in salary nor a benefits change happens, start looking for an alternative job.
How to increase your salary at work
Before asking for a salary raise, it’s vital to work on yourself first until you have what it takes to improve your productivity. Here are the eight best strategies to ask for a salary raise.
1. Gain more qualifications
The more skills you have at your disposal, the more valuable an employee you are. Possessing additional qualifications is an ideal way to put forward a powerful case for increasing your pay. This way, you are also putting yourself in a better position to negotiate for a position chance or be a strong candidate for promotion. Formally trained employees offer more than just their experience because they have a theoretical side of the study.
2. Maintain a consistent performance
Do not sit back after a salary increase and perform the bare minimum. You can negotiate for higher pay based on your outstanding performance and going beyond expectations. Demonstrating good performance is vital to retaining your responsibilities and magnified salary. Besides, if you decide to go after a promotion, the way you conduct yourself in the meantime is vital to boosting your professional reputation.
3. Take more responsibilities
This is a perfect way to communicate to your seniors that you are ready for added responsibilities and expand your roles. Increased responsibilities are also a solid base for a salary increase. You can also ask your superior if it is possible to learn more processes around their managerial environment and assist in some of the tasks.
4. Get an outstanding performance review
Receiving a great performance review places you in an advantageous position to negotiate a salary increase since it portrays your value as an employee.
5. Seek regular feedback
Make an effort to request feedback from your managers regarding your performance. This lets you know what areas to improve on, but it also helps you know the areas your superiors feel you are good at. When the time comes to discuss salary increments, base your argument on what your manager has recognized.
6. Understand your role
Before you think of asking for a raise, get to know the company’s expectations from you. Compare this to what you are doing and come up with the areas that need improvement. Also, sit down with your supervisor and go through your duties to know what the priorities are. Focus on your unique skills, find a way to enhance your workflow and bring to the table something that no one else in the entire organization can. On some occasions, doing what is expected of you is enough to warrant a salary increase.
7. Be likable
You can be the most productive worker in the organization, but you will have difficulty negotiating for a pay increase if no one likes you. Likeability probably contributes more to the amount you make than the number of duties you perform. However, this does not mean that you have to be fake. Be genuine, avoid complaining all the time and care about your colleagues.
8. Ask for it
Once you have taken up new roles, maintained a consistent performance and gained more qualifications, you might expect to get a salary increase, but that is not always the case. Your manager might notice that you have improved your performance, but it is their goal to keep everybody happy and minimize the costs.
Getting along with everyone and enjoying your role does not mean your supervisor will realize you are looking for a pay raise. It is an uncomfortable situation, but you have to ask for more and be ready to negotiate your salary. Don’t hesitate to ask for a raise, but do it the right way.
Tips for asking for a salary increase
Here are several tips for asking for a raise:
Write and rehearse an agenda
Prepare before walking into the meeting. Come up with a list of solid reasons why you deserve the raise. If needed, write them down and recite them to build up your confidence and create a convincing delivery.
Apart from listing your major achievements, mention added responsibilities you have taken up, strategies implemented, projects you have overseen and the plans you have to help the department achieve its goals. It is advisable to have a written copy if your manager wants to discuss it with other supervisors.
Request a meeting
Ask your manager if they could be available for a meeting to discuss your salary increase. If a face-to-face discussion is not possible, request a salary raise through email.
Be presentable
When it comes time for the meeting, be presentable to look the part. It does not matter if your dress code is usually lax. However, you do not want to appear as if you are trying too hard, but looking professional and polished will not do any harm. It will only enhance your confidence as you present your case.
State your case and pause
Give your best case as to why you should get a raise. Listen to what your manager has to say. Cease from issuing your employer idle threats or misleading them to think that you have an outside offer. Base your case on research and the results of your work. Depending on the response, gauge how much detail you need to know and the backup support you require.
Tim, a congressional staff member, shares his winning tips for getting a significant salary increase from his employer.
Have other options
You do not want to have your request rejected, but it could provide a good opportunity to present another proposition if that happens. This could be working from home at least one day per week, requesting a device for work purposes or even seeking to attend an industry seminar or conference. Always take note that your supervisor is likely to agree to a smaller request after turning down a major one.
I hope you find this article helpful.
