When Should You Request A Pay Increase At Work?

Most people are apprehensive about discussing money with anyone, let alone their boss. However, it is critical to learn how to start negotiating a salary. You are less likely to be paid fairly if you never request a raise.

Raising your salary is not guaranteed. Some organisations take a proactive approach to salary increases, reviewing employee performance at 6- or 12-month intervals. However, there is no assurance that a consistently positive review will result in a significant pay increase. To make more money, you must be willing to bargain.

 

How Often Should You Request a Raise?

Throughout many cases, you should only request a raise once a year. There are exceptions to this rule, such as if your employer did not give you an increase six months ago but pledged to revisit the matter in four months based on your performance goals or funding sources.

Another opportunity window may open after a significant accomplishment, such as landing a large client, organising a successful event, obtaining a large grant, implementing a successful expense measure, or closing a large deal.

Overall, you should not request a raise until you have been in your present position for a full year.

 

Keep Track of Your Victories

Maintain a daily or weekly notebook of your job accomplishments, so you have documentation to support your request.

 

Display Results

Emphasize results that have had a financial impact, regardless of whether they resulted in increased sales, cost reductions, quality improvements, or employee satisfaction. Mention whether you have gained new skills (via a class or training), taken on additional duties, completed a project successfully, or exceeded the goals you set at the start of the year.

 

Outperform Expectations

Remember that simply carrying out the duties outlined in your job requirements does not entitle you to a raise. Managers seek workers who go above and beyond the call of duty in terms of work and efficiency. Document the things you've done that your leader appreciates and that make them appear good.

 

Conduct your research

Before requesting a raise, investigate the average salary and raises for your role in your area. Is your salary competitive in the market? Lower? Higher? Use your studies to back up the amount you're requesting.

 

Request Timing

When it arrives asking for a raise, timing is everything. Don't request one if your boss is going through a hard time. Also, if the organisation isn't doing well, don't make a request. (For example, if news comes that a huge deal has fallen through, request that the salary meeting be rescheduled.)

Consider when pay increases are typically given. Then, make your proposal a few months ahead of time. For example, if your company gives out promotional offers or expense raises at the end of the fiscal year in June, state your argument for a raise in April.

This will give your leader time to think about your proposal and meet with others from the company who is in charge of determining who receives a raise and for how much.

 

Persuade, not complain

This is not the time to complain about how everybody else makes more money than you or how you do twice their work. Whining rarely persuades leaders to loosen the purse strings, even if it's true.

Also, avoid discussing how much your spending, such as rent or loans, has increased. Your manager is unconcerned about your financial situation.

Instead, make your case using data.

Discuss how your achievements have benefited the organization's bottom line and the market price for your position and skills.

 

Is a promotion possible?

Remember that getting a promotion is one of the most effective ways to boost your pay. Ask management about the potential of promotion if there is an appropriate opportunity to open above your level or if you can rationalise reclassifying your employment at a higher level.

Promotions are frequently accompanied by larger raises than would generally be granted as part of regular adjustments.

How to Request a Raise

As you can clearly see, requesting a raise is far from spontaneous. Before requesting one, you should be well-prepared. The following are best practices for effectively receiving a pay raise:

Prepare

Prepare an agenda for the discussion as well as some salary scripts. Prepare a reason for why you deserve more, and be ready to debate it.

Dress for the Role

Although if your office dress code is casual or entirely absent, this is not the time to wear your beach attire to work. Dress for success. Your boss should be getting concerned about the case you've built after the meeting, not what you were supposed to wear during the conversation.

Have a backup plan

What would you do if your boss said no and didn't promise an increase in the near future? Quitting on the spot is rarely advisable, but you'll be more comfortable in the conversation if you have a backup plan, such as leads from other companies.

While some studies indicate that asking for a raise in person is preferable, there are potential benefits to communicating via email instead. You might feel more at ease making your case in written form, and your leader may prefer to evaluate and consider your request over time.

 

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