Asking for a raise is an intimidating task. After all, you’re trying to push your employer to do something that they don’t have to do. However, in order to keep their top talent, employers are usually at least willing to hear you out. Whether you’ve negotiated before, or have no experience whatsoever, it’s alright. You have what they want – the continued value you’ll bring to the table. It’s daunting at first, but once you realize you’re in just as strong of a position as them, you’ll know that there is nothing to be afraid of. Let’s take the plunge and go over how to ask for a raise – and increase your chances of getting one.
Collect The Positive Feedback You’ve Received
The first thing you need to do is collect all the good feedback you’ve received. In other words, make a list of all the evidence you have that you deserve to make more money than you currently do. This serves two purposes. One purpose is to help get you psyched up, it’s important to believe you deserve more pay. So, if you have any doubt, do your best to drop it – it’s crucial to know the value you bring.
The second purpose is so that you’re able to go into any potential meeting to discuss your raise with fodder for the case. If you can recall all these different examples of great value you’ve brought, then it can help you make a great case for a raise.
Major Projects
If you’re having trouble with this, think back to any major projects or tasks you’ve worked on. Maybe you did something that saved the company a lot of money, found a way to fix a process, or brought in a bunch of customers. Whatever big things you’ve worked on, look to them and don’t sell yourself short.
Collect The Negative Feedback – And How You’ve Improved
On top of backing yourself up with the good things, it’s important to go over the negative feedback you’ve received as well. It’s possible you haven’t had any. Whether you have or haven’t, the real goal of this is to highlight areas you’ve grown. So, if you’ve had any negative feedback from your manager in the past, find a way to highlight how you’ve grown since then.
If you can break down how you’ve brought value in the past, as well as how you’ve gotten better since then, it can pave the way for a much better discussion about increasing your pay.
Do Your Research
It’s important to research the industry standards and come prepared. You need to rely on facts rather than emotional appeals if you want to raise your salary. Do the legwork as much as possible, and it will help prepare you for the discussion. It’s good to not be blindsided by basic figures, and it can be helpful if you’re better read on the subject than whoever you’re talking about your raise with (likely your manager).
Remember that not everything you read on the internet is true though, so do your best to fact-check yourself before you assume something.
Your Income Vs Market Value
One of the main things you’ll need to research is income expectations for your position. Do your best to find as much data as possible on this, which should include the location as well. There will likely be some variance, so you’ll have to educate yourself and figure out what is realistic. Again, be sure to factor in location and cost of living. A common mistake I see is people looking up salaries in high cost of living areas and then assuming that’s how much they should be paid.
Alternatively, if you know someone with more insight on salaries for your position, it’s even better if you can reach out to them for help.
Have Real, Concrete Numbers
Make sure your research leads you to solid, specific numbers. The more specific you are, the better. Once you have a concrete number, be sure to see how it lines up with your financial goals. Does this put you on the right track to reach them? Are you already on the right track? Or will you need to supplement your income with a side hustle?
Don’t Compare Yourself To Specific Coworkers
This tactic is highly unprofessional and just doesn’t work. Saying you want to make as much as someone else on your team does nobody any favors. Keep the names of other people out of the discussion. Comparison is usually a bad game to play, and you may find you’ll fall short.
The most common example of this is the most inexperienced person on a team demanding the same pay as everyone else. Unless you are a serious top performer, you can’t expect to be paid the same amount as someone with a significant amount of experience over you – unless it’s a position with commission.
Don’t Make Personal Motivations Your Case
As I said, emotional appeals aren’t your friend here. Talking about why you need or want the money doesn’t help your case. It’s another unprofessional tactic, and it will leave everyone feeling bad or guilty afterwards. Your personal reasons aren’t a justifiable business motivation for increasing your pay. There are better ways to make your case and get your raise, so don’t fall for this mistake.
Emphasize The Value You’ll Bring Going Forward
One of the best things to do, instead, is to focus on the immense value you’ll be able to bring to the table going forward. This can be between your proven track record, what you’ve learned along the way, and the additional motivation of upward mobility. Often times your manager will appreciate it if you’re interested in moving up within the company, and will admire the work and loyalty required to do so. By mentioning your motivation to keep growing individually, and helping the company, it can be a good reason for them to give you a raise. Not only for the hard work you’ve done, but also to encourage more of it.
Do Your Best To Time The Conversation Appropriately
If you know layoffs are happening, it may be wise to postpone your discussion for a bit. Of course, don’t wait forever, just make sure you’ve timed this well and that you’re doing it during a period where there is actually a chance of getting a raise. A common, and great opportunity, to discuss raises is during performance evaluations. Of course the choice is yours, just make sure you think twice about the right time to approach the topic.
Practice, Practice, Practice
I don’t care if you practice with your mom, a friend, or just in front of a mirror. The important thing is for you to practice. Have a decent pitch to open up with, and try saying it out loud a few times. Sometimes it becomes incredibly easy to see flaws in an argument by saying out loud, and it can help you determine if it’s awkwardly worded too.
Prepare To Negotiate
Be ready for some give and take. This should be a win-win for everyone. You should get a raise that it suitable given your performance and the industry standard, and your employer should have an employee that is more of a boon than a drain on resources.
Generally, it’s a good idea to know how low is too low for you. Is there a specific salary that will be too low for you to continue your job with this employer? If that’s the case, make sure you’re aware of it and do your best to at least reach that minimum.
If you don’t get the minimum amount you needed to feel comfortable staying, that’s fine. Quitting outright is usually not the greatest idea, but nobody can blame you for putting yourself first and starting the interview process elsewhere.
Conclusion
I hope this article helped you come up with some ideas on how you’ll approach asking for a raise. If you have any tips, let us know them in the comments.
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