You may feel valued in your current role, but does your salary reflect that value? If you’ve considered asking your boss for a raise, keep these tips in mind to give yourself the best chance to succeed.
1 Do your research
It’s always helpful to do a quick internet search and find out what others in your position are earning. You may find that you’re earning below market value or the current average. Either way, it’s a good idea to have this information before meeting with your boss. Whatever you do, DON’T approach your colleagues and discuss salaries with them – most companies have strict policies against this.
2 Find the right time
If you know your company is having cash flow issues and are looking to cut spending, it’s not a good time to start asking for a raise. If, however, your company’s prospects look positive and they’re in a good position to increase your salary, then start preparing your pitch.
3 Have a number in mind
Before asking for a raise, you’ll need to know exactly what amount to ask for. Keep your previous research in mind and remember that salaries vary from city to city, and are based on experience and skill level. Use these factors to help you decide on a fair amount, and be prepared to negotiate when the time comes.
4 Make your case
Asking for a raise isn’t as simple as going to your boss’s office and requesting a salary increase – you have to justify why you think you deserve it. Make a list of all the successful projects you’ve tackled, any accomplishments you’re proud of, responsibilities you’ve taken on, and specific examples of how your contributions to the company have positively affected their bottom line. The more solid your case is, the more likely you’ll get the outcome you want.
5 Request a meeting
Once you have all the information you need, it’s time to set up a formal appointment with your boss. Make sure you frame your request as calmly and professionally as possible, leaving emotion at the door. If you’re nervous, you may want to practice with a friend before the time. Show your boss the information you’ve gathered, make a case for why you deserve a raise, and let your hard work and experience do the rest.
Now that you’ve got your dream salary, here’s how to make it last ALL month. Are you ‘ready’ for a promotion? Find out here.
