Do you think that you deserve a raise, but it has been a while since your current hourly wage has made a move? How should you approach this with your boss? These were always questions I asked when I was still working for “The Man” and know I’m definitely not alone when it comes to figuring out how and when to ask for a raise.
If you’re wanting to ask for a raise but not certain where to start some of these steps should help you get started and hopefully result with more money in your pocket!
1) Over-perform on the Job
If you want a raise today, you really have to go above and beyond consistently. No longer can you get a raise just for showing up – at least from what I’ve seen. If you don’t prove that you’re worth of a raise by doing extra each and every single day, then you’re likely in for an uphill battle.
Over-performing can be accomplished by either putting in extra hours at the office or by taking on extra projects. These are both ways that your boss can notice your extra efforts that might work out in your favor when you ask for a raise.
2) Keep Track of Your Extra Efforts
If you indeed are over- performing at your job, then you should make a point to take note of all your duties that you have taken on that are not currently part of your job description. You can take this a step further by quantifying either the amount you saved or made for the company.
How this can help when you ask for a raise is showing to your boss the value you bring to the company, that you’re a hard worker and that you think outside the box, and return your diligence with a raise.
3) Gather Data on Salaries of Similar Jobs
With the help of Glassdoor.com and other job boards, you can search job titles that are identical or similar to yours and get a relatively clear idea of what others are earning in other companies. Ideally, you should find salaries of those that are within your area and at competing companies. If you find that your earnings are quite low in comparison then you can use this data to help prove your case for a raise.
4) Kindly Ask For A Raise
If you truly want a raise, griping, complaining, and getting upset about it will not get you any extra cash. Instead, approach your boss kindness and professionally and explain that you enjoy your job as well as the company and would like to ask for a raise. Ask him what he thinks. If he does not jump on board immediately, leave him your findings and tell him that he can get back to you at his earliest convenience. If, even after looking through your data, he does not grant you a raise, you can then consider moving on to step #5.
5) Kindly Accept the Refusal and Look For a New Job
This step is one you’ll want to proceed with wisely. Without telling your boss that you’re searching for another job, entertain other offers in your field of knowledge. If you are offered a new position elsewhere, but would like to stick around with your current company, let your boss know about the offer and give him one last chance to increase your salary.
Do your best not to make him feel like he has a gun to his head, but kindly let him know that you are entertaining the offer and might choose to stay if you are properly compensated. If he still does not increase your pay, then maybe it is time for you to leave. Again, take this step wisely, but that also doesn’t mean you have to stay in your old job.
What steps do you take when you ask for a raise? Have you ever been denied a raise, and if so, what did you do? How often are you reviewed for a raise?
Photo courtesy of: Steven Depolo