Want To Ask For A Pay Raise? Here’s What You Need To Do
If you are not looking for a job change and you are planning to stay in your current job, you’ll then need to ask for a pay raise. This is the only way to seek a raise in your pay.
Asking your manager for a raise can be nerve-wracking to some but if you are giving out your everything in your current job then you do not have to wait for months and years before asking for a raise that you actually deserve.
The truth is, there’s nothing wrong with asking for a raise that reflects the hard work that you do, but there are some approaches and best practices that will always get better results than others.
The best things that you need to make your employer understand is that your contribution to the work of the company is worth above and beyond the usual annual pay raise of, on average, two-four per cent.
Even though your manager has data on the hard work you’ve been doing, you still need to present your case for why you really deserve a raise and you need to be prepared to negotiate. You can look into following suggestions while preparing to ask for a raise, and how to justify your raise, the right questions to ask, negotiating with your manager and recovering from an unsuccessful ask for a raise.
-The first thing you need to do is get familiar with the pay raise practice that your employer practices. If the standard practice is to offer salary increases once a year after an annual review, you are unlikely to receive a raise at any other time. If your company offers more frequent increases, you’ll have more luck asking for a pay raise.
-Research the market pay rates of the job you are currently working in. while researching, you need to take care when you use online projections and salary calculators. If you are already paid above your market pay rate, then negotiating might turn difficult for you.
-Communicate with other employees in similar jobs in similar industries to determine your salary competitiveness. Professional associations also do salary surveys and provide networking opportunities with people in similar jobs.
Once you get a clearer way about the pointers you’ll need while asking for a pay raise, the next step is to know how you need to behave while asking for the pay raise from your employer.
An easy way to begin a raise discussion is to say something like: “As I’m looking forward to working and growing with the company, I’d love to discuss my salary.” Or “I’m interested in discussing my salary, is now an appropriate time?”
Mention your desired salary digits and specifically outline how you came to this conclusion. Also, be clear about when you’d like your new desired salary to be effective, and any other details that are pertinent to your desired compensation.