Pay raise used to be done automatically every year. However, with the changes that happened in the economy, this is no longer true on many companies in various industries. Most of them now have a year-end review that would evaluate the performance of employees for the past year. This is also when employees often get to pitch for their pay raise. Asking for a pay raise may be easier said than done to some people. However, who wouldn’t want or even need this nowadays? If you want to get that much needed increase on your salary, here are some tips that would help you make it a success.
Do Your Research
You need to have a specific number in mind on what your raise would be so that you’ll know how to negotiate. In today’s economy, most companies give 2% to 3% increase to their employees. While you may want to get the biggest salary, you need to be realistic. Finding what other people on the same role as yours are paid for would help a lot. You may ask colleagues about their opinion on what they think would be a fair salary for your job. The Internet is also a great tool to get the information you need. Browse the web and get the answer that you’re looking for. There are sites that give information on the average salary that people get on a specific job. There are also forums that you can check out where you could post your questions and get answers from other users. This can be done anonymously in case you don’t want others to know who you are.
List Down Your Achievements
Ask a raise only if you truly believe that you deserve it. Take note of your achievements or accomplishments for the past year. You would need this to backup your request on why you need to get a salary increase. Your request may not be granted if you will not be able to clearly give the reasons on why you deserve this.
Choose the Right Time
The right timing is very important. If you’ve been with the company for quite some time now, you may already have an idea about the personality of your manager. Don’t bring up the subject if you see that he’s stressed out or not in a good mood. Avoid days when he’s too busy working on some tasks. Choose a day when he looks more relaxed and happy. Let him know that you would like to talk about your performance review and salary so he would have an idea on what it would be about.
Practice What You Have to Say
You don’t have to memorize every word that you need to say, but you must have a general idea on what you would say once on the meeting. Being prepared would help you become more confident and comfortable, which could help in closing the deal to your benefit.
Dress Up Professionally
Well, this one doesn’t just apply on the meeting, but it’s something that you should always do at work every day. Whether you like it or not, appearance matters in the workplace. Dressing appropriately and neatly would make you look professional, thus getting more respect with the people around you, including your manager. The company may not appreciate it if you do otherwise because as an employee, you’re representing their name. Moreover, dressing for success would make you feel more confident.
Consider Other Compensations
If your salary increase was not approved because the company cannot afford this due to its current financial situation, you may consider negotiating other options that would still compensate you. For instance, you may ask for a more convenient work schedule, four days a week work, working from home one day a week or getting additional vacation leaves.
In case your request was not granted, ask the reason and what you need to do to get the raise. This way, you would have a clear goal on what you need to do to get the increase next time. Do you know any other tips on how to get a salary raise? Share them with us.
Featured and 1st image by Lucas (Own work) [Public domain], via Wikimedia Commons
2nd image by Nuorten Toimitus (Nuorten Toimitus Pohjois-Satakunta-lehti) [Public domain], via Wikimedia Commons
3rd image by Ildar Sagdejev (Specious) (Own work) [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC BY-SA 4.0-3.0-2.5-2.0-1.0 (http://creativecommons.org/licenses/by-sa/4.0-3.0-2.5-2.0-1.0)], via Wikimedia Commons