How To Ask For A Raise
Whether you’ve taken on new responsibilities or have continually overachieved in your current position, it might be a good time to ask your boss for a raise. Even if you have been at the company for a short time, don’t shy away from asking for what you feel you deserve. Honestly, they’re probably expecting it and might be surprised you’ve waited so long to ask! Here’s a step-by-step on what to do when you’re ready to ask for a raise.
Set up a Meeting
The first step is to let your boss know you’d like to set up a time to discuss your goals and what you are looking to accomplish at your workplace. Once the meeting is set, you can take the time you have to prepare. Be ready to talk about your achievements and contributions as well as your goals. Don’t be overly persuasive in this meeting. Consider it a casual conversation with your boss about your plans to flourish with the company – the raise is just a bonus!
Utilize past conversations between you and your boss as a starting point – what was their feedback during your last employee review? List out your reasons as to why you deserve this raise. You will build your case by highlighting your added responsibility or achievements. Make sure you also compare your position’s salary to the average salary in the industry, which you can research online. Use this to come up with a number to negotiate with
Be prepared to answer tough questions and especially to hear the word “no.” If your boss declines your raise, ask what you can do to earn it. Their feedback during this time is crucial, so don’t miss a beat and take their constructive criticism graciously. They’re trying to help you.
When to Ask Your Boss for a Raise
Most bosses won’t accept a vague request for a raise. They want to know what you’ve done to earn it. Here are some opportune times.
You’ve Taken On More Responsibilities
If your job has recently become short-staffed due to high turnover or someone recently quit, you are most likely taking on a huge workload. Instead of complaining about it, use it to your advantage. Take ownership of these demands to prove to your boss that not only can you handle it, but you deserve the extra compensation for it.
If the company isn’t short-staffed, ask your boss if there are any other tasks or projects you could take on. Taking the initiative and being proactive will definitely help you stand out.
You’re Coming Up On a Year of Employment
Some companies offer a yearly raise, but if yours is based on merit, you’ll have to ask for it. Think about what you’ve accomplished in a year. It could be high client retention or an increase in revenue. Show them how you’ve added value to the workplace and they’ll likely reward you for it.
You Have Completed Additional Training
If you have some added skills to your resume, it could be time to ask your boss about a promotion or raise. How can your new skills benefit the company and what would you like to accomplish with your new training?
You Have Another Offer
If another company has approached you with a job offer, inform your boss that you’d really like to stay where you are, but you deserve a raise. Only use this tactic if you’re willing to take the other job offer. There’s a chance your boss could deny the raise.
You Can Do This!
Asking for a raise can be nerve-wracking, there’s no doubt about that. But being prepared, knowing that you deserve this, and practicing as much as you can will ease the nerves and boost your confidence. If your boss values you and your work, they’ll have to say yes to a raise or at least point you in the right direction of how to get it.