There comes a time in any career when an individual feels that they deserve a salary increase. They may have been working at the same company for a long period of time, or their workload has been increased.
5 Tips on Asking For a Raise
Being prepared will help you calm your nerves and take the leap with confidence, greatly increasing your chances of success. Here are 5 tips that will ensure your request is considered:
Do Your Research
Before approaching your employer, ensure you research what the market rate for your career field is. This can be done by asking co-workers (both men and women) in your field, using the internet and even asking recruiter companies. Consider why you feel you deserve a raise and, when researching, remember to get a specific figure you can take to your employer.
Consider Your Company’s Salary Structure
Once you have a good idea of the going rate for your work, factor in your understanding of your own employer’s salary structure, too. It’s useful to know how your company generally handles raises so that you know what’s likely to be possible, as some companies are structured differently. It’s a good idea to pay attention to when companies give their annual raise, as this could affect your chances of getting a raise.
Demonstrate Your Achievements & Value
When you’re in the meeting you’ve scheduled to discuss your raise, you want to show your employer your value to the company. You want to be able to demonstrate that you have taken on additional responsibilities, as well as provide specific details about your accomplishments, projects and how they have increased sales or profits. You should also present positive feedback you have received from your accomplishments from colleagues and clients, as these are good examples of your contributions to the company. Numbers are very convincing, so use them to your advantage, discuss sales figures, upsells and profits you’ve earned for the company.
Focus on the Future
Another great tip to remember is to talk about the future, show your boss you’re invested in the company. Discuss the new responsibilities you want to take on and how they contribute to growing the business, you need to align your priorities with the companies to ensure growth and positive feedback. In the meeting bring up a new project you’re interested in starting and explain the positive impact it will have on the company’s performance.
Practice Your Pitch & Anticipate Questions
It’s important to go into the meeting with a brief outline in your head on what you need to discuss, as this shows confidence. You will also need to consider the many possible responses that you’ll get to each of your requests, your achievements and your goals for the future- think of how you’ll address these responses. In the meeting remember to express gratitude and appreciation for what you currently have at the company, as this is a gracious and professional preface before asking for more money. You need to set goals and timeline for them to discuss in the meeting as this shows self-confidence and results in that pay raise!
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Affirmative Portfolios have been matching employers with their perfect employees for over a decade and want to help you! Find your perfect position today and remember these tips for the future. Upload your CV today & let us give you the kickstart you need in your career.