Asking For A Pay Rise
If you have been with a company for a certain period of time and have consistently performed to a high level, it is normal to feel entitled to a raise. It is a fact that most employees believe they deserve a raise, but few pluck up the courage to ask. The thing is, you can’t walk into a manager’s office and demand a 10-20% salary bump on the spur of the moment.
You need to prepare your case like you’re in a courtroom! You should write out a list of reasons why you need it and these will help you how to ask for your raise. When you look for your salary increase and are armed with a list of accomplishments, it forces the manager to make a decision. If you show up and ask with no documents to back you up, it is easy for the manager to say ‘no.
How to Ask for a Pay Raise?
It should go without saying that it must not come out of the blue. Asking for a raise after a significant accomplishment is not a bad idea, nor is doing so during a particularly positive annual review. Savvy employees organise review sessions with their manager and find a way to bring up their financial expectations going forward subtly.
As your boss is constantly reminded of your desire for extra pay, he/she is not surprised when you submit a formal request. The right way to go about it is to request a meeting with your manager. This is when you bring your ‘evidence.’
How to Prepare Your Arguments
You don’t want to go into a gunfight armed with a plastic spoon! It is important to ask yourself some searching questions. For example, do you genuinely believe you are underpaid for the work you do? Have you taken on additional responsibilities with no increase in pay? When did you last receive a raise?
You must also think about what the company offers. Asking for a raise is, unfortunately, something that involves a long-term gameplan. Collect all details of your achievements while in the company and think about how much you actually want. There is often a disconnect between what employees and companies believe is a fair raise.
Above all, use sites such as irishjobs.ie. to find out how much others in your position, with similar qualifications and experience, are receiving. If your salary is significantly less than theirs, you will have a stronger case.
What to Say to Get a Raise
Schedule a meeting with your manager and structure what you’re going to say as follows:
• What you do for the organisation.
• The list of your achievements while working for the company.
• The things you feel you still need to work on. Believe it or not, your boss will appreciate the honesty.
• The scale of pay increase you are looking for.
In the meeting, you must act professionally and be clear as to the purpose of the meeting. It is perfectly fine to open with: “I wish to discuss my salary. Is now an appropriate time?” When you discuss the level of raise you are seeking, outline how you reached that figure.
It should go without saying that you must be confident and express appreciation for what the company, and your boss, offers you on a day-to-day basis. You must also show that you’re looking to stay at the organisation in the long-term so express a desire to help fulfil the future needs of the company.
How to Justify Your Raise
Now is not the time to be modest about your accomplishments. You need to provide specific examples of the contributions you make to the company. Hopefully, you will have gathered measurable data to show the level of revenue you generate for example. Let’s say you work in sales; you can point out that your streamlining efforts in the sales division increased earnings by 22% over the previous 12 months.
Negotiate a Raise
It is extraordinarily unlikely that your manager will acquiesce to your initial demand. It is far more likely that he/she will object. They may say it isn’t in the budget, and you would be earning more than others in your department or else you need to improve in certain areas to warrant a raise.
Make sure you have answers to all of these objections. For example, you can point out that the next budget isn’t finalised or else you have more responsibilities than others in your department. If the manager offers a smaller raise than you want, you have to decide if it is enough.
Tips to Follow When Asking for a Raise
• Timing is Everything: Make sure you pick your moment. Asking after recent success is a great idea; looking for a salary rise on the back of project failure is not!
• Check your Company Policy: No matter how badly you want a raise, you might have to wait. Check your company’s policy on wage increases before requesting one. It could be that your firm only gives salary rises during the end of year review cycles.
• Do a Market Research: Research your job, the size of company, location, experience, demand, and skill set before deciding how much you want.
• Show Accomplishments: Be specific when outlining your value to the company. This includes highlighting revenue earned, money saved, initiative demonstrated, improvements in products/services you implemented, and your history of ensuring projects are completed inside deadlines.
What to do if Your Employer Says ‘No’ To Your Pay Raise Request
Despite your best efforts, your request may be refused. Perhaps there is no room in the budget, or else your manager doesn’t think you warrant it. Whatever the reason, you should discuss a timetable and list of goals you need to hit to achieve your desired salary with your boss. You could ask for added perks such as telecommuting or half-days on Fridays. If it is made clear that you won’t get a raise for the foreseeable future, you have to decide if you wish to continue working for the company.
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