As you advance your career, you want to ensure you are compensated fairly for your work … which likely means you will need to prepare to ask for a raise from your employer. Naturally, this can feel a little daunting but preparing thoroughly and being confident can increase your chances of getting the salary boost you’re seeking.
Recognition and feeling valued is a core aspect of career satisfaction. Recognition drives a 32% increase in employee performance when combined with feedback and incentives. It’s time to strategize and set up a meeting to get the feedback and raise you want.
6 Tips to Ask for a Raise with Confidence
Here are some helpful tips to get you started if you’re ready to ask for a raise.
Tip #1: Research is key
Before you go into your meeting, you need to research the market and the value of your role is within your industry and geographical location. Go into your meeting with all the facts to back up your request.
Pro Tip: Besides your job title, when you research, pay attention to qualifications, years of experience, and regional salary differences. You want to ensure you ask for a raise that is reasonable and aligned with both your role and the current market.
Tip #2: Document your achievements
As you start preparing to state why you deserve a raise, you need to highlight a list of the contributions you have made to your team and the company. Beyond your day-to-day responsibilities, what other successful projects and additional responsibilities have you taken on? Identify these from the past six to 12 months. Be specific and use numbers to quantify your achievements when you can.
Pro Tip: To make your contributions easier to document, keep a running list of your successes throughout the year. It’s easier to negotiate when you have concrete results to show.
Tip #3: Timing is important
This one’s important. Timing is key when you want to ask for a raise. Pay attention to your company’s financial results to make sure it’s positive news. Try to ask for a meeting during performance reviews, especially after positive feedback. These are good opportunities to ask for a raise.
Pro Tip: Look out for company-wide raises or bonuses. If you can align asking for a raise as part of an annual review, positioning your request at this time can be a good strategy.
Tip #4: Practice the meeting
Confidence, professionalism and clarity are crucial during your meeting. Don’t forget to thank your manager for the meeting and be clear that this conversation is about your compensation. Next, you will want to talk about your accomplishments and the research you have done on the market to back up your request.
Pro Tip: It’s a good idea to prepare the conversation with a trusted friend or family member to refine your pitch and become comfortable with the topic. It will also help prepare you for any questions asked.
Tip #5: Prepare for feedback
You may not get a yes right away – that’s ok. Just because it’s a “no” today, doesn’t mean it’s a “never.” There could be many reasons your manager may say no – budget constraints could be a big part of it. If that’s the case, you may want to consider asking for non-monetary compensation such as extra perks like vacation days or flexible working hours. Additionally, you can set clear goals and targets to be on a timeline to work towards a raise in the future.
Pro Tip: Don’t be upset with a “no.” Use this opportunity to gain constructive feedback to prepare to set clear goals and objectives for the future.
Tip #6: Stay professional
Whether it’s a yes or a no or an outcome you did not expect, it’s imperative you stay professional throughout the conversation and don’t allow your emotions to take over. When it’s good news, make sure you thank your manager and assure them of your commitment to delivering high-quality work. If the conversation goes the other way, show that you understand and you will continue to work hard until you get your salary request.
Pro Tip: Stay positive and focus on your goals. You want to be polite regardless of the outcome. The way you handle the matter will reflect your professionalism.
Professionalism and Confidence is Key
When you want to ask for a raise, you need to prepare, stay confident, and be diplomatic. Thorough research of your market value, documenting your achievements, and practicing your pitch can position you for success. Keep in mind, even if the raise isn’t granted immediately, maintaining professionalism and using constructive feedback can help pave the way for future opportunities. With the right strategy, you can position yourself to make a compelling case for a raise – and get it!
