Updated: 5 days ago
Author: Ema Oberpfalzerova
Date of Publication: 06/01/2023
Asking for a raise might be one of the most uncomfortable and intimidating conversations of your life. Sadly, a research study found that only 37% of employees had ever asked for a raise, even though it should be completely normal. Actually it should be totally acceptable since most company managers want to take good care of their employees. In particular, the usual pay increase range is from 3% to 5%. Yet asking for more, speaking like 10 or 20%, might be a way to open negotiations on how to compensate for your performance increase or higher job duties. Therefore, we are about to focus on the whole process of a pay raise, considering the best timing, why and how to ask for it.
1. When to ask for a raise
The most simple advice on when to ask your boss for a raise is just to use your common sense. Some people might say it is never a good time. However, if you take into consideration a few aspects, there will be a positive outcome. Such aspects are:
● how your company is doing in general
● if there is a laid-off of employees
● if your department has been on low numbers or
● if your supervisor is dealing with other problems,
Try to make a request during a good time when your company has high numbers and a stable position. Also, consider your company's standard raising practices. For example, if the usual pay increase time is the beginning of the year, ask during November or December. It will give them the time to consider your request. This is definitely better than asking them to change their mind after the decision was already made.
2. Why ask for a pay raise?
Why you are asking for a pay increase is a critical question that you will be asked. Therefore it is necessary to know how to respond and react. If you are feeling like that your work is not appreciated enough, or the performance isn’t equal to the salary, consider these facts as reasons for asking. Don’t ask for a raise because your rent increased or your colleague doesn’t work as hard as you for the same money. When you make the request, the reasons should be based on data and actual facts regarding what you bring to the organization.
3. How to ask for a raise?
As it was mentioned above, it is important to have a list of the reasons why you are asking for a raise. Simply list your accomplishments from the past few months or a year and describe how those facts positively impacted your department or the organization as a whole. The stronger data or numbers you state, the harder it will be for your manager to prove it wrong and deny your request.
Secondly, schedule the meeting in advance. In fact, it is much better than suddenly knocking on your boss's door. It will show them that you consider their time and you don't catch them in a rush. What’s more, they have plenty of time for the discussion.
Finally, be confident. This conversation might seem intimidating, but you have the facts and evidence with you to support your request. Be prepared that your manager may push you back or say no for the first time. However, take that as a starting point for you to work as hard as possible to get the pay raise you deserve.
In conclusion, asking for a pay raise might seem intimidating at first sight. However, the scarier it seems, the more important it is. Knowing your own value and being able to ask for its appraisement is essential for your career support and growth. Therefore, if you follow these few advice mentioned above, you should be successful with your request.