Asking for a Raise
Most workers are timid when it comes to asking for a raise. Even if they feel like they've earned pay increases, they often refuse to approach their supervisors to ask for them. The fact is, asking for a raise – when done politely and with good reason – is a perfectly acceptable part of a professional relationship. Many employees are surprised to find out that most managers don't mind discussing compensation with them.
When making your case for a raise, be sure to keep the following in mind:
Be confident, but not overconfident.
Make a list of accomplishments, just as if you were creating a resume. Using numbers and listing specific contributions will go further in stating your case than expressing a simple desire to make more money. However, make sure you avoid sounding like you are entitled to a raise. The goal is to maintain a comfortable, professional conversation. Also, do not introduce your positives by admitting your negatives first. Instead, be direct with your supervisor and state right away that you are asking for a raise. Maintain professionalism, dress nicely and be polite and respectful.
Know your industry.
Consult your industry and know the salary standards for your area of expertise. Be familiar with the average pay rate in your geographic area for someone with your skills, education and experience.
Find your bargaining point.
Are you seeking a higher pay rate? Maybe you're looking for more comprehensive benefits? Or even for more time off? Remember that compensation means more than simply the money you earn.
Time your approach.
Timing is everything when it comes to asking for a raise. You want to find an opportune time when it's appropriate to point out your worth to the company. A few examples of these opportunities would be during your annual or quarterly reviews, after you've taken on more responsibility within the company, or after you've successfully completed a large project.
Avoid the pitfalls.
Even with the best argument for a pay increase, you want to avoid using a few bargaining techniques that are cliché and don't work well in professional environments. For instance, steer clear of comparing your salary to a co-worker's. Also, don't threaten to quit if you don't get your raise. Giving an ultimatum doesn't speak well for your devotion to the company and could potentially burn some of your networking bridges. Finally, focus your conversation more on what you've done to merit a pay raise and less on why you need additional money. Remember that you're talking to a representative of a business whose main concern is most likely the company's bottom line and not with your cash needs.
These techniques may help you as you hunt for a larger stake. However, if you're faced with rejection, you can still look for ways to advance. That may mean simply asking your supervisor what you need to do in order to earn the raise you're seeking. You can also consider any available training to make your skill set more specialized. After all this effort, if there is still absolutely no room for growth within the company, it may be time to consider other options.
