If you think that it is about time that you made more money, then asking for a raise might be the solution to your problems. While asking for a raise can become a touchy subject, there are ways to go about it and actually get it. Here are some tips to help you ask for a raise and get it.
Find Out the Practices of Your Employer
Many employers have standard practices regarding issuing raises. For example, your company may only offer a salary increase once per year after doing an annual review of your performance. If that is the case, asking for a raise at another time may be considered inappropriate. Figure this out before you proceed so that you don’t run into problems with getting what you want even if you do feel that it is well deserved.
With regard to the amount of the raise, if it is standard practice at the company to ask for a 4% raise, then this is the amount that you should request. It is highly unlikely that you will be able to request more money if this is the raise package offered to all employees. If that won’t work for you, it may be a good idea to look for a position somewhere else that better meets your financial needs.
Do Some Research
If salary increase practices are less clear at your company, then you should do some research to find out what you should aim for. This could include looking online for reviews of your company, talking to other people in your industry to see how they are being compensated or reviewing the company handbook to find out the procedures for delivering raises.
Regardless of what you decide to ask for, the most important thing that you can do is to prepare. If you are trying to explain to your boss, why you deserve more money, you better have a thorough explanation ready as to why. Companies only offer pay raises to employees that are delivering more value. Therefore, be prepared to discuss your accomplishments in detail and how you have gone above and beyond at your job as a member of the team.
The easiest way to justify a pay raise, is to identify all of the additional responsibilities that you have taken on as a employee since you were hired. This could include responsibilities that are explicitly outlined in the official description of your position. In fact, you may even qualify for a promotion in addition to a pay raise, if your argument holds up in front of the decision makers at your company.
When I asked for a raise at one of the jobs I had in the past, I know that I was a nervous wreck! Fortunately, I got it and a small year end bonus to boot! Tell us about your experiences with asking for a raise or get some advice from others on getting that raise here!