Top 5 Ways To Ask For A Raise
Eeeek! Doesn't just reading that title make you sweat bullets? Or maybe it's just me.... Either way, we can all relate to the fear and uncertainty of taking that initial step to ask for a raise. However, sometimes the risk is worth the reward!
Know your worth: Today, you have many resources to see what your job title gets paid (on average), even down to a zip code. Use these resources wisely!! Be sure to research what your position gets paid and incorporate that information with how long you have been in the industry. Are you new to the industry? Do you best to tie that in with other jobs that relate to your current position.
Take Notes: Track your progress. Since day one, I have always kept a separate note pad of all the skills I’ve gained along the way. Was your manager out sick one day and you had to take over the manager tasks? Were you given bigger projects to work on? Did you take a certification course that enhances your professional profile? Write all of them down! By the time it comes to your yearly review, you will have plenty of notes on WHY you're valuable and WHY you are worthy of the raise.
Be Confident: This might seem like a weird bullet point: but trust me on this one. Some managers may say “we are tight on money” or “we did not have the best financial year" as excuses to steer the conversation away from giving you what you want. As much as you want to respect them for their honesty, do your best to stand your ground and fight for what you deserve.
Perfect Your Timing: We don't encourage you to ask for a raise two months in. It takes time to prove your worth, your work-ethic and just your growth as a professional that it is wise to wait until at least a year. However, every company is different so be sure to always check your company’s policies. This will allow you to find the best time to meet with your manager and gather all of your notes together prior to the meeting.
Now that you have some tips to focus on prior to the meeting, it is now time to think about the result. Did your manager see your worth and agree to provide you with the raise? Did they want an additional few months of work before they went forth with it? Or, did you get turned down? Did you get a pay raise that was not what you were looking for? All possible scenarios, however, now it is up to you to determine whether or not there is a future within the company or if it is time to move on.
Were these tips helpful? Have you had any personal success (or horror) stories to share? We'd love to hear!
If you need help preparing for this conversation, let us know. We will take you through it step by step. Sign up today!