Asking your manager for a salary raise is easier said than done. It’s very hard to express your desire for a salary increase. One must be good in negotiating. Still, prove your worth by applying salary increase tips.
You don’t get what you want because you never asked for it. CNBC reveals 80% of millennials who requested a raise in the past two years received one. That’s a big number. Do you want to belong to the remaining figures who lost the chance? They lost because they didn’t take the initiative.
Many months passed by. You’ve probably been working for over a year. You’ve consistently excelled in your job; however, a salary increase has always been elusive. Is getting a raise not plausible? No. You just don’t know how to approach your boss; thus, learn how to negotiate salary increase. It just needs knowledge and skills to succeed.
Prepare yourself through these effective tips on requesting a salary increase.
Salary Increase Tips for Employees:
- Review Company Policy on Salary Increase.
Organizations have their own metrics on salary increment. So, before you ask for a pay raise, assess the company rules first. Are they strict with their salary increase schedule? Can it be flexible? Is it done on annual or semi-annual basis? Knowing the policies is the first step.
- Know What You Deserve
Though companies have distinct rules on salary increase, you still deserve to get at least the average salary of your profession. This should also depend on a specific industry. You need to refer to a salary comparison website. Kelly Services is a good platform. Assess the salary range for your job position. Also, consider the years of experience, educational background, and location.
- Justify Your Request for Salary Increase
To get ready with your next step, keep track of your work accomplishments. It’s a summary that justifies why you deserve a raise which also serve as your proof. As per AON, a professional services firm, 40% of employers were eliminating pay increases for poor performers. Thus, you need to be exceptional to deserve a raise. Salary increase tips always include reasons to make them effective.
You can present at least one of the following:
- Past and present achievements (quantify each)
- Tasks you’ve taken beyond your job descriptions
- Attendance and other Key Performance Indicators
- Successful projects
- Be Rational Rather than Emotional
Your pay raise request should be based on reason, not on emotion. Leave your personal needs when you ask for a raise. Salary increase negotiation should be bound by business matters only. Base it on facts. Likewise, your employer is more interested in what you’ve accomplished than why you personally need it. Sell your professional value.
- Choose the Right Timing
Apply the first 4 salary increase tips with proper timing; otherwise, you might still lose your chance of winning over the negotiation. It’s best to ask for an increase before or during your performance evaluation. You may also take the initiative after having a big success. By the way, don’t ask for a raise if your manager is in a bad mood. Also, if your company is in a financial crisis, postpone your request. Wait until they’ve recovered from it.
These salary increase tips give you the best chance to get what you deserve. However, there’s still a risk of getting a negative result. So, consider a back-up plan. You may just ask for a bonus which can be non-monetary. An additional paid vacation leave will also work.
But if all else fails, it’s time to move on. Stay optimistic. Be cheerful in spite of the unwanted outcome. Who knows, your big break may be coming up next. You just have to make a way to welcome it. Be proactive! Visit Filworx to look for job openings. Better opportunities are waiting for you!