WiseDollar

You work hard. You?ve been nailing it.

Clients love you and you?ve brought in some great new accounts.

You were just handed some new responsibility.

You are going places.

The one obstacle in your way is that you don?t feel you are being compensated correctly for your current responsibilities at work. You want a raise.

So, how do you go about getting one? Depending on the company, raises may happen annually or they might be few and far between.

That’s why it’s important to take matters into your own hands when you feel that you deserve a raise.

Here are a few steps on how to ask for a raise and get it.

Be Prepared

Do your homework before you even think about going to your boss about a raise. You need to be prepared to present your case and answer questions.

Know Your Timing

The first thing you need to know is timing.

Is the company performing well or is it starting to shrink staff? Does your company give raises around performance reviews? If so you need to approach your boss a few months before to start conversation.

Raises are usually already determined by the time your review is held.

Keep Track of Accomplishments

Write down all the tasks you have accomplished, goals you’ve met and responsibilities you’ve tackled above and beyond what was required. Keep track of any stats and have specific figures.

For example, instead of saying you increased web traffic to clients? sites, say that you increased web traffic by 10% through x, y, z that increased client?s gains at x amount. The more information you have the better your case when you ask for a raise.

Find Out What Others Earn

Know what your industry is making salary-wise and in your geographic area. If your boss won?t go for your initial request, you can come back with that information.

Don’t present it in a hostile manner. Simply say, “Professionals in my field are making x and I?m at y, which is lower than the industry average.”

Knowing these numbers will help you provide a reasonable raise amount that would be within your employer?s capability.

Once you have your homework done and you feel you have a strong argument to get you that raise, you need to have that conversation.

Set Up a Meeting

This is obvious, but make sure you are upfront with the meeting topic. Also make sure your timing is still ideal. Letting your manager know up-front what your meeting is about will help them get in the right mindset and not be blindsided.

Present Your Case

You?ve done your homework and have the meeting set, now you need to practice your pitch. It sounds silly but the more confident you are about your case, the better you?ll come across.

Be sure to not get too emotional and give your valid reasons for the raise, not that you need more money to save for a vacation.

Have a Plan B

You might have nailed your pitch and feel super confident. But, there is always a chance your employer will say no.

If that?s the case, ask where you can improve. Ask what more can you do or extra responsibilities you can take on to show your value.

?No? is not the end of the conversation, it might be a ?not yet?. The company may not be able to provide a financial raise but they may give you extra vacation, more paid leave, and the potential to work from home. Have an alternative in mind.

Asking for a raise can be scary. Doing your research and have an open conversation with your boss usually leads to a better situation. Read the room and the economy. You might not get the raise the first time. But, by showing your worth and the value you bring to the company, that second ask may be more fruitful than the first.

 

Have you ever asked for a raise? Were you successful?

 

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