Tips and Strategies for Asking for a Raise at Work

Asking for a raise can be nerve-wracking, but it doesn't have to be. If you are armed with the right information and strategies, you will be able to confidently ask your boss for the salary increase you deserve. This guide will help by providing tips and advice on how to successfully ask for a raise and what to do if your request is denied.

This guide will help to strengthen your ability to talk about money and get over the lifetime conditioning to avoid doing so. Here are a few major steps to help you prepare. Remember to be confident, speak clear, and know your worth. 

• Explain why you deserve the salary you're requesting by citing specific, recent accomplishments and the value you've added to the company. 
• Evaluate your value with facts and accolades to show more clearly how you have improved your company's bottom line.
• Give logical, convincing examples to support your arguments for a raise. In order to further support your request, respond to your manager's inquiries about your raise logically and diplomatically.

Why Do You Want A Raise?

There are a number of reasons why you might want a raise. Maybe you feel like you're being underpaid compared to others in your field, or maybe your cost of living has gone up and you need more money to make ends meet. Whatever the reason, if you think you deserve a raise, it's important to be able to articulate why to your boss. Some reasons you might want to ask for a raise include:

• You feel like you're being underpaid compared to others in your field.
• Your cost of living has gone up and you need more money to make ends meet.
• You've been with the company for a long time and you feel like you deserve a raise.
• You've taken on additional responsibilities at work and you think you should be compensated for it.
• You're simply not happy with your current salary.

Whatever your reasons for wanting a raise, it's important that you be able to articulate them to your boss in a clear and concise way. Explain why you feel like you deserve a raise and back it up with specific examples, if possible. If you can make a strong case for why you deserve a raise, you're more likely to get one.

Before making your request, make a list of all of your reasons for seeking a raise. Don't ask for more money because your rent has risen or because you're irritated that your coworker doesn't work as hard as you yet receives the same salary. When making your request, you should base your reasoning on your performance and the value you contribute to the team and the corporation.

How Much Should You Ask For?

The average pay increase is 3%. A good wage increase runs from 4.5% to 5%, with anything more deemed extraordinary. Depending on the grounds you specify for a pay raise and the length of time since your last raise, you could request a raise ranging from 10% to 20%. The higher the percentage you request, though, the better your explanations should be. For example, if you accepted a position that required little travel and are now on the road more than half the time, asking for 20% isn't unreasonable because your responsibilities have considerably changed.

Examine your company's financial health. When you know the company is financially sound and can genuinely consider your proposal, try to ask for a raise. For example, if the company's client retention and new client onboarding rates continue to rise, it may signal enough stability and growth to pay you more.

Preparing To Ask Your Boss

Allow yourself time to prepare for the talk, and allow your boss time to evaluate your request.

Schedule a meeting with your supervisor ahead of time rather than unexpectedly knocking on their door; this demonstrates that you value their time. If your boss is unavailable on a certain weekday, cross it off your list. Do your study and know your worth before approaching your manager in a professional manner.

Final Thoughts

Keeping a portfolio of any compliments, reviews or notes from your boss, clients or coworkers is very important. It helps to keep a detailed record of the past achievements or recent success that you've achieved; And may come in handy when asking for a raise. Regular self evaluations and performance reviews are also recommended to keep on record.

Companies frequently seek employees who are upbeat, perform well in groups, and are personable. Your enthusiasm for your job may result from your positive attitude, and you may attract other employees who want to work with and be like you. Maintaining a pleasant attitude as opposed to a negative or passive-aggressive attitude may also increase collaboration and teamwork.

Employers look for adaptability and a willingness to learn. If you demonstrate that you are interested in the future and want to help the company, you will be far more likely to receive a raise when you ask.