A PayScale salary survey showed that 57% of people have not requested a raise in their fields. Reasons being that 38% had their bosses give them a salary raise before they asked for one, 28% were uncomfortable asking and 19% were afraid of being seen as pushy. It’s common knowledge that asking for a salary raise is not a pleasant experience – it involves the possibility of rejection and having your work come under scrutiny. But employees should not feel afraid of bringing up a salary raise. Going by the PayScale Compensation Best Practices Report 2016, 73% of employers think their employees are fairly paid, while just 36% of employees think that their compensations are fair. Sometimes, the only way out is to ask for that salary raise. The best time to talk salary and settle for a price you would be comfortable going forward with is during the interviews in the hiring process, but the salary negotiations continue throughout your stay at a company. The more you get used to discussing money generally, the easier it will be to request for a raise at work. According to PayScale, 75% of people who ask for a raise at work get it. It takes proper preparation to have a productive conversation with your boss about your salary. Here are some steps to take to make that salary increase happen.
- Get the timing right: Starting negotiations for that raise at the right time will determine whether or not you’re rewarded with the raise you want. It may be tough to decide when it’s the right time to approach your boss or manager about your raise, but timing truly makes a difference. Take into consideration things like when raises are generally granted – it may be at the end of each year or 12 months after your start date. If there are no clear rules governing when raises are granted in your firm, you can ask your manager outright. Some other things to take into consideration before broaching the topic . If your firm just went through an unprofitable quarter or lost a major client, the time may not be right to request a salary raise, regardless of how strong your individual performance is. A survey revealed that the best time to request a salary raise is when you are happy with your current job and not when you stop liking it.
- Find out what you’re worth: What you’re worth is a combination of the work you’ve done and the general average salary someone in your position gets paid. Do your research, find out what people in your position generally receive and take stock of the work you’ve done before presenting your boss with the numbers during negotiations.Hannah Morgan, career expert of Career Sherpa says a good way to keep your boss up to date is by sending him or her a weekly or monthly email update. State what you accomplished in objective, measurable terms. And always try to tie your achievements back to organizational goals or how those accomplishments benefit the bottom line.
- Plan the approach: Plan out the discussion with your boss. Find out your manager’s biggest challenges, the priorities for the upcoming year and what your boss needs help with. Using this information, plan your response based on the answers you can deliver. Also ask yourself how your boss best processes information? Are they data-driven? Subjective? If they are data-driven, lead with your research and clearly state your request. If they are more subjective, start with what contributions you have made to the organization, your performance, and then give them an overview of the data and your request.
- Prepare for a “no”: There is a good chance that your request for a salary raise will be denied by your boss. Try to prepare for this eventuality when going in for a meeting about your raise. It is possible that your boss will not respond as expected to your request, so what happens next is entirely dependent on you. Regardless of the outcome, taking the chance can be a positive experience. Having these conversations puts you more in control of your career path and development even if they don’t exactly work out as expected.