Asking for a Raise? Here's How!
Asking for a Raise? – Here’s How!
Asking your manager for a raise can be nerve-wracking; which is why many people wait for months or even years before asking for the raise they deserve.
There’s nothing wrong with asking for a raise that reflects the hard work that you do, but there are some ways to ask better than others.
Your manager presumably has data on the hard work you’ve been doing, but you still need to present your case for why you deserve a raise. Always be ready to negotiate as well.
How to Prepare
- Build Your Case: Look back at recent projects or times where you went beyond what was expected of you and provided a real benefit for your company.
- Know Your Worth: Use a salary estimator to give yourself a clear idea of how much of a raise you should be asking for. With these estimators, you can understand if you’re getting paid fairly and will have a concrete number to bring to the table when negotiating.
When to Ask for a Raise
Picking a good time to ask for a raise requires you to figure out when your company’s fiscal budget planning takes place so you know you aren’t asking for the impossible.
Here are a few times to ask for a raise:
- Annual Performance Reviews: This is a natural time for a raise conversation. The topic of salary is not only timely, but often expected.
- After Completing an Important Project: Asking for a raise after successfully completing an important project or showing exceptional work is a great idea.
- When Your Manager is in a Good Mood: Never ask for a raise during a stressful or hectic period because your manager will be short on time and patience. Wait to ask for a raise at a better time when your manager is happy with you, and your work.
What to Say to Get a Raise
Your evidence has been prepared and you have chosen a good time to talk to your manager, now what are you going to say?
Be clear and specific in your delivery. It also can’t hurt to have a few phrases up your sleeve to help ease the conversation. Never prepare a script. The conversation should be as natural as it can be.
How to Act
Be sure that you balance confidence, graciousness, and enthusiasm for the work that you do. Also, keep the tone of your voice calm and confident.
Expressing gratitude and appreciation for what you do currently at the company is a gracious and professional preface when asking for more money. Share excitement for your future goals, and for the future goals for the company. This reassures your manager that you are dedicated to doing your job well.
How to Justify Your Raise
Justifying your desired salary can be difficult but can be accomplished with specific examples of times when you set the bar high.
- Use specific, recent accomplishments that have brought great value to your company as reasons for why you deserve the salary you are proposing.
- Further determine your value with results so you can physically demonstrate how you’ve contributed to your company’s work force.
- Answer your manager’s questions attentively and respectfully to further support your request.
How to Negotiate
When a manager’s salary proposal does not match the number you had in mind, it’s time to negotiate for what you think you deserve.
- Set your expectations. You may not be able to get the salary you intended immediately.
- Do your homework. Make your target salary known and start a conversation with your manager to see how to reach your target salary.
- Set your goals. Work with your manager in setting specific goals in order to reach your desired salary.
- Reach your goals. Meet your goals on time and make sure that your manager is paying close attention to your progress.
How to Recover from a Failed Raise Conversation
There may be no room in your company’s budget for a raise. If this happens, it’s important to be polite, that way you can set yourself up for a successful raise conversation the next time around.
If you can’t achieve the monetary raise you deserve, ask for more perks or benefits like:
- Additional Vacation Time
- Title Change
- Half-Day Fridays