Are you one of those people who doesn’t know how to ask your manager for a raise? Whether you deserve it or not, the truth is not only are most people unaware of the best way to ask but they’re also afraid of the situation itself. Like most business interactions, asking for a raise is a negotiation. If you’re familiar with negotiating, you’ll know that one of the best ways to achieve a favorable outcome is to prepare before you come to the table. Understand your arguments and practice them. That being said, it still helps to know what you should prepare with regards to a salary raise.
Below we have put together some easy to understand tactics that you can use when you ask for a raise.
Have a clear vision
First things first, before you ask for a raise, make sure you have devised a path for your career. One of the best techniques to convince your manager that you deserve a raise is to have a clear vision or career path in mind. With seniority usually comes a pay rise. “Get insight on what it takes to get to the next step, not when you think you deserve it but prior.” Be warned when discussing your path with your manager that “the conversation does not revolve around just money, that’s the mistake people make quite often, if you show your value the money comes naturally.”
Build your case
If you have devised a career path and worked with your manager, what you need now is to build a case as to why you should receive a raise. An essential technique is to show your boss that you see your work more than just a job – you need to go the extra mile. A great way to do this is to keep a record of what you have achieved and the praise your manager gives you. Make sure you address the perspective of the company and show your added value. When presenting your case to your employer, try to focus on your achievements and don’t involve salaries of coworkers in the same discussion. When building your case, ensure “you start sowing the seeds before you speak with your manager at the annual review. Showcase your ambitions prior to your annual review. Get in before they decide on allocating the budget.”
The importance of research
When asking your manager for a raise, you’ll need to figure out how much to ask for – how much you can ask for is the amount you are worth. To figure that out you can compare yourself with peers in the same industry. Glass door could help with this external benchmark by providing you with some insight. Depending on your relationship with HR, you could consult them as well. There’s always a certain bandwidth in which you can operate. You should not discuss salary increment with your colleagues as this “could be bad for team morale.” However, if you know people who work in the same industry as you but are in a different company consult them as well. Of course the best thing you can do is to research your salary before you apply at the company. This is an external benchmark which is great to know beforehand, but not ideal if you’re already working there. However you speak with HR to get an “internal benchmark. The internal and external benchmarks should provide you with a good starting point for a raise.
Timing is everything
Make sure you know the correct time to ask. Find out when your company generally approves raises, is it the end of the year, a work anniversary, or at some other time? Raises are mostly tied to evaluations and annual reviews. There are generally two types of raises, one is more company related, sort of like a bonus and the other is a merit increase, which usually works on the basis of an agreed upon criteria, such as performance.If you perform well, you might receive a small increase, if you perform outstanding, you might receive a larger increase. The biggest steps are made when you change companies but try to find out if there’s still enough room for you to grow. If you ask too early this could be interpreted in the wrong way and might look ungrateful.
Practice what you’re going to say
If you know what you want to say, confidence will go a long way. So decide what your approach is going to be then practice it. When designing your ask and deciding on your words, put yourself in the other person’s shoes and sketch-out your approach accordingly. Understand that your manager wants to keep the talented people on board and grow the business, and is a person too, think about the process from their perspective as well. A good technique is to write down what you want to say and read it aloud to yourself in front of the mirror. You can even practice with a friend or family member, practice talking about what you have brought to the company rather than what you deserve.
Some final tips to remember
If you want to have a steep career track, switch every two to three years; within your company or to another company. However, a tactic you should never employ when asking for a raise is threatening to leave. The reason a company may not respond well to the threat of leaving is because it might indicate that you already have one foot out the door, you’ve already considered leaving, how much longer would the money motivate you. The most important thing you need to remember is to treat your career as an investment that requires your care, start having more conversations about your objectives and personal development. If you go the extra mile the company will also go the extra mile and your hard work will pay off.