Everything YOU need to know when asking for a pay raise at your job. One of the best ways to convince your boss to increase your salary is to show that you aren’t being paid “market value” Present data points… show some research about average salaries in your job area and region. Bring some print outs. Show that you are under paid compared to other people. Name a number. Don’t just say you want “a raise.” Either give a target salary, or a percentage increase. Don’t give a “range”
3. Show the boss that you are “worth more” — You brought in extra sales, you closed extra deals, you do things 3 times faster than everyone else. It would help if you’ve been proactive already about sharing all your achievements with your boss, because then they’ll already know about the great work you’re doing, and you’re just summarizing it for them.
Present a case about how you go “above and beyond”… write this case out so it’s easy to present when you actually discuss it with your boss. And practice it! It can be nerve-racking to ask for more money. It will help you do it if you practice it… out loud!
4. Don’t make your case based on how long you’ve “existed” in the company. Make it based on results you’ve generated. Don’t have an entitled mentality. Be confident, but don’t be arrogant. Remember… it’s a discussion. I’ve done my research… these are the numbers. It would appear I’m being underpaid relative to my peers elsewhere. Show graciousness, enthusiasm for the work and the company. Definitely don’t consider this an argument.
5. Don’t make your case on why “YOU” need the money. Mortgage, car payments, kids school tuition are all not good reasons to ask for more money. Or at least not a good reason for why your boss should give you money.
5. If you’re asking for $10K — consider a fall-back position. If your manager says they can’t give you $10k, are you OK with $5K? Or $5K now and $5k later? How about more perks? More time off? Your own personal nap pod in your office?
6. If you work in a large organization, Don’t expect your boss to give you a raise on the spot. They likely will have to seek approval. Consider drafting this is a letter that you can leave with your boss so they can take your “points” up to their boss. And if you hear no the first time… don’t take that as a “no” forever. Ask If a raise isn’t possible at the moment, when will it be possible? And ask again later.
7. Don’t threaten that you’re going to leave, unless you’re prepared to make good on that threat. Most managers have found that by the time someone has “another offer” somewhere, it’s not worth it to try to match it. They are likely out the door anyway. If you do want to try and take this approach, you could say ‘I interviewed… it was a great offer… I turned it down, because I really like it here…. But it got me thinking… what are my prospects around here’
8. Time your question: If your company is barely keeping their doors open due to COVID, now might not be a good time to ask for a raise. Consider asking for a raise in conjunction with your regular “performance review” (they’ll already be receptive). And you’ll have already done some work on your “great work” over the past year. Or after you complete an important project and they’re already impressed with you. You also want to do it when your boss is in a good mood. If they’ve had a bad day, they’re tired, etc… then it’s not a good time.
9. Be prepared for new responsibilities
Boss says: OK — I’ll give you more money… but I’m going to ask for you to do more