So, you’ve finally decided to ask your boss that question, huh? I know, I know, it’s nervewracking, right? Depending on how well or bad it goes, you may want to start writing your resignation letter. Just kidding. Though you may want to avoid annoying your boss after asking them for a raise, just in case.
For real now, asking for a raise today is challenging. Yes, companies are more open to giving better benefits to their employees now due to the talent war. But with our country’s economic growth slowing down once again due to the conflict in Ukraine, not many companies right now can do so.
To help ensure you get your salary increase, or at least not look like you’re overly demanding, here are seven easy steps to follow. These steps apply to both traditional and online jobs. So you can use these even if you’re talking face to face with your boss or if you’re in a video call with them.
Assess Your Company’s Financial Status.
Before you even approach your boss about your request, consider your company’s present status first. As I mentioned earlier, with how difficult things are economically today, not many companies can afford to increase their employee’s wages. So it may not be a wise move to ask right now.
However, some companies are rapidly recovering from the pandemic’s effects. Others even grew because of the pandemic. To know if your company is one of these, do basic research. Check if your company’s services are in-demand today. Additionally, don’t forget to check for telltale signs that your company isn’t doing well, such as layoffs and budget cutbacks.
Find the Right Time to Ask.
After checking your company’s financial situation, now’s the time to see if the timing is right. If your company is financially stable or even growing, now’s the perfect time to try asking for a raise.
Another prime moment to ask for a raise is when you have made a significant contribution to the company. Asking your boss during this time increases the chance they’ll say yes to your request, seeing you should be rewarded for your hard work.
On the other hand, if your company isn’t financially stable, don’t ask right now. Try asking at the end of the fiscal year instead. If they can’t provide you with the salary increase you need, you can start looking for a company that does during the first quarter next year.
Request a Performance Evaluation.
Of course, when you’re requesting a raise, you need to show why you’re deserving of it in the first place. The best way to do this is by asking for a performance evaluation from your boss. Having this when requesting a raise allows you to prove why you have earned it with raw data.
Aside from helping increase the likelihood of you getting a raise, receiving your performance evaluation will also help you improve your work. With it, you are now aware of the things you’re doing right and what you need to improve on as you work.
Find Out the Salary Trends for Your Area of Work.
Another way you can improve your chances of getting a raise is by researching your work’s salary range within your region. Knowing how much your work is valued helps you come up with a reasonable request to your boss. This will help you avoid sound too demanding or desperate to your boss during your appointment.
While researching your job’s salary trends, don’t be surprised if they vary depending on the website you check. This is because salary trends differ at the individual level. What may be the optimal salary range for one company is different for the other. Use these to estimate the amount you would like to request.
In addition, you can also try asking your co-workers what their optimal salaries are. Be sure to avoid asking them about their current ones, though. Because they might take offense at you for asking such a private question to them.
Notify Your Boss and Set an Appointment.
Next, if you have determined the right moment to state your request for a raise, now’s the time to notify your boss about it. Aside from being common courtesy, it also helps them prepare their response to you. You don’t want them to answer you in a rushed manner now, would you?
When notifying your boss, be sure to do it ahead of time. No boss likes being pressured by their employees for a meeting the day after you’ve sent your request. If possible, try to set your appointment a week ahead, so you and your boss have time to prepare.
Be Prepared to Answer Your Boss’ Questions.
Understandably, during your interview, your boss would like to know why you think you’re deserving of a raise. They will ask you a series of questions gauging your previous accomplishments and try to negotiate a different salary increase.
If you’re beginning to feel nervous, just remember to stick with the data you have at hand, namely, your performance evaluation. When it comes to negotiations, don’t be afraid to push your demands on your boss, but don’t close yourself to hearing alternatives.
Don’t Forget to Thank Your Boss.
No matter what happens at the end of your appointment with your boss, always show your sincerest gratitude. This shows your respect for their decision, whatever it may be. And that you have no ill-will towards your boss.
If you want to be more formal about it, you can send a post-appointment e-mail to your boss to show your thanks. This also serves as proof you and your boss discussed your request for a raise.
What Should You Do if Your Request Is Rejected?
Despite doing everything I have listed above, you still didn’t get the salary raise you requested? What should you do now? First off, remain calm. Don’t take this decision by your boss personally. The last thing you want is to cause needless issues with your boss.
Next, don’t let this affect your performance at work. Doing this will make your boss think you’re unworthy of a raise. Instead, try to work on improving yourself, so the next time you ask for a raise, you will surely get it. But if worse comes to worst and you really believe you deserved the raise, maybe it’s time to consider resigning from your present job and look for a new one.
Getting Your Just Rewards Easier.
And there you have it. Here are the seven steps you should follow when asking your boss for a raise. With these, I hope you will have an easier time getting your much-deserved raise. Good luck!