Knowing when and how to ask for a raise can be one of the most intimidating things you do during your career. Even though you know you deserve more money in your pocket, it can still seem pretty awkward to talk about your accomplishments and why you deserve it. Even if it seems uncomfortable at first, asking for a raise is an important part of a career, and it shouldn't seem as intimidating as you might think it is.
Knowing your worth is the first step when it comes to asking for a raise. If you feel you've been going above and beyond what your position entails, and you've been receiving positive feedback over and over again, then it might be time to set up that meeting with your supervisor. It's OK to be nervous. Talking about yourself, especially in front of your boss, can be really scary. But being successful means standing up for yourself and going after what you know you deserve. If you are on the fence about asking for a raise, remember one thing: You will never know the answer if you choose not to ask. If you're about to take the dive off the deep end and ask for a raise, here are some tips on how to do just that.
1. Do Your Research
Before you walk into the meeting, make sure you do your homework. You want to be 100 percent prepared with the facts before asking for any money. According to Fast Company, Lolly Daskal, leadership coach, said to research on sites like Glassdoor or Salary to figure out the market's current paying offer for your position. This should help you become more aware of what the other companies in the market are paying and it should give you an idea for what to ask for. Also, figure out what your company's pay practices are. Do they only give raises during annual reviews or are they doing well financially that you can discuss money at your own leisure? Either way, make sure you're aware of what is happening with your company right now. It will give you an idea of how to approach your boss and give you more back up for your asking offer.
2. Be Positive And Leave Your Negativity At The Door
Be aware of how you talk to your supervisor when you're discussing your raise. Communication is everything and it could alter your bosses' answer. According to Forbes, complaining will only lessen your chances of actually receiving it. Don't talk about how you haven't had a raise in years or compare your salary to another employee's. According to Monster, Marianne Adoradio, a career counselor in Silicon Valley, suggested presenting your request in two parts: one that highlights your knowledge of the company's situation, and one that highlights your work. Use the company's data that you have gathered to back up your request and bring any performance reviews into the picture, too. The more leverage you have, the better your chances are of receiving the raise.
3. The Timing Has To Be Right
If you feel you are being taken advantage of or you've been complaining about your job more recently, it might not be the best time to ask for a raise. According to U.S News, the best time to ask for a raise is when you're happy at your job. Employees will actually receive their request more when they approach their bosses in a positive light. Approach your supervisor with positivity and confidence (without being too cocky). In addition to asking when you're happy, also try to be aware of your boss' schedule. Be polite and ask your manager when is the best time to talk about your progress and possible future goals. Your boss will appreciate you being considerate and it may even give them time to fully pay attention to your request without stressing out about their own work.
4. Know Your Worth
If you're planning on asking for a raise in the near future, start keeping a file of all the positive feedbacks you've received in addition to your projects and accomplishments. This is the time to prove to your boss that you've been working your butt off and you truly deserve this raise. According to Quint Careers, make sure you demonstrate your value and all of your contributions you have done in your department. Sometimes supervisors don't remember all the things you have accomplished in the past year, so this is a great time to give them a little reminder of just how awesome you actually are.
5. Have A Number In Mind
Be realistic with your raise. While asking for more money is never a bad idea, you don't want to ask for too much, because then they might not give it to you. If you don't feel comfortable giving an exact number, then give them a range instead. According to Mashable, when you give your boss a financial range, they'll assume that you will not take anything lower than that number. Whereas with a single figure, they could be more inclined to go below it. And nobody wants that.
6. Have A Backup Plan And Ask For Feedback
If for some reason your supervisor is unable to give you a raise, then try to ask for a different type of bonus. According to Yahoo! Finance, ask to see if your company can give you a better title or more paid vacation time. While money is what you were originally going after, receiving these perks is still a pretty good idea. Also, don't be afraid to ask your boss on how you can approve so you may be able to get a raise next year. Bosses might have a hard time giving constructive feedback, but it's imperative to know these things, so you may be able to improve and get that raise you deserve.
Even though asking for a raise is really intimidating, it's not as scary as you think. Make sure you do your research and back yourself up with a file of all of your accomplishments. Treat this like a interview. You know you deserve this raise and the only way you are going to get it is if you're confident and truly believe in yourself.
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