If you ask most employees what the most challenging thing is to do, they will likely say the same thing, asking for a raise. While it may be difficult to ask for an increase in your salary, every employee deserves to be paid what they’re worth. Here are some tips to help you increase your salary.
Timing
There is a saying that says, “Timing is everything.” This saying is true when it comes to getting a raise. While you should look for the best timing to ask and increase your chances of success, you have to be careful not to let timing become the excuse not to ask. The perfect time to ask for a raise, that gives you the best opportunity for success will vary depending on the person you are asking and your company’s operations. If there is a hiring freeze or other company financial adjustments, you should wait until the company is in a better place.
Follow Internal protocol
While you may deserve every penny of a raise, if you ask for it inappropriately or ask a person who has no decision-making capacity, your request may be declined. Make sure you know the internal protocol relating to asking for a raise. Some companies give that power to management while others consider all employee salary increases once a year based on their performance review.
Prepare a Presentation
A presentation can include visual aids or PowerPoint, or it can be a well-planned oral presentation. While your presentation should be assertive, it must be kept short and to the point. If you can’t convince your boss that you deserve a raise in less than two or three minutes, then your performance may not hold up to the ask. When you walk into your boss’s office, they should already know that you deserve this salary increase from your outstanding job performance and service record.
Focus on the Company
When asking for a raise, you must focus on yourself and focus on the company. You must show that you value the company and understand that it is a business. Showing this understanding and value and how you fit into it as an employee and how you increase the company’s worth, will help your chances of you not only getting a raise but getting the amount that you desire.
Avoid Specific Salary
Some may argue that you should ask for the exact amount you would like to make when asking for a salary increase. However, it has been proven that asking for a range of salary increases your chances of not only receiving a raise but getting more than you expected. By giving a range with the lowest end of the range being the lowest acceptable amount and the high end of the range shooting for the stars, you guarantee that you will be satisfied with the amount if your raise is approved.
Conclusion
Asking for a raise, while scary, is a necessity if you don’t work for a company that automatically considers salary increases each year according to performance reviews. Though it may make you nervous to ask, 100% of employees who don’t ask for a raise don’t get one. Studies have shown that of employees who ask for a raise, approximately 70% receive one. Of those who receive a raise, roughly 40% receive what they asked for and about 35% more than they asked for. This leaves the other 25% to receive less than what was proposed. The point is the odds are in your favor that if you ask, you shall receive. So ask already!
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