Asking your employer for a raise is not rocket science, but it can still be intimidating for most people. Here are some surefire ways to make sure you get one when you ask for it.
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If the thought of asking for a raise from your employer fills you with anxiety and makes you want to head for the hills, then you are not alone. Considering how badly the pandemic has left some companies, you may also be wondering if now is the best time to ask for a raise. The unemployment rates have continued to increase over the past one year, and most people are just grateful to have a job. Whatever the case, if you feel you have been putting your best foot forward at work, it may be time to shake things up and ask for a salary raise from your employer.
Employers still want their staff to be satisfied despite these trying times, but not all companies are struggling right now. Preparation is critical before you go charging into your boss’ office asking for more money. Confidence is also crucial when asking for a raise, given how awkward it can be. In fact, a study by Zoro showed that 11.9% of employees were uncomfortable asking their employers for a raise, with women making up two times this number than men. This is because women are often too scared to discuss money with their employers to avoid being considered too entitled, pushy, or aggressive. The best way to go about it is to remember that it is not personal, but simply about the money. By not asking for that salary increase you have worked hard for, you are giving up a lot of money that you probably deserve.
So what are the best tactics to employ to make sure you get a raise at work?
1. Crunch the numbers
Like I mentioned before, background research is crucial before asking for a salary raise. Your boss will probably ask you for the specific amount of money you would like to get, so you need to have a figure in mind. All jobs usually have a market value that falls within a specific range. Find out what the salary range is for your position, specifically in your industry and geographic region. Narrow it down by looking into the average salary for professionals with similar responsibilities, qualifications, and job titles or a role that you are aiming to get. Websites like Africapay, Glassdoor and PayScale can be helpful in getting this information.
Also, consider that a standard salary raise typically falls between one to five percent, so do not go in with an unrealistic figure. Ideally, it would be best to ask for a bit more money than you want, to leave room for negotiation. When negotiating, keep three figures in mind: The ideal amount you would like, a middle figure that is still adequate, and a figure that’s lower than your expectation so you know at what point to renegotiate.
2. Know when to ask
There is nothing more important than timing if you are thinking of asking for a salary raise. First, evaluate how the company is fairing by noting if they have added any new lines of business that are doing well, acquired any new clients or recent funding. If the company looks like it is prospering, then go for it. But if the opposite is true, you need to be on the lookout for warning signs like layoffs or pay cuts, which lets you know to hold off for a while. There are also ideal times for businesses when employers are open to discussing salaries for their employees; an example would be during performance reviews. Another opportunity to discuss salary with your boss would be at the end of the company’s fiscal year. Employers usually consider compensation packages and new hires for the upcoming year during this time. Mark your calendar and schedule your salary discussion for these times. If you have also just successfully finished a big project at work, that is the perfect time to talk to your supervisor about a possible pay raise.
Pay attention to your boss’ mood as well. Imagine yourself trying to ask for a salary raise when your boss is angrily peeking at you from behind a pile of time-sensitive documents on their desk. It doesn’t look good, does it?? It is best to wait until your employer is in high spirits and when things are not so stressful at work, to schedule that meeting and give yourself a better chance.
3. Do it in person
It is always advisable to have a salary conversation with your employer in person and privately, not via email. It shows you are serious and allows you to assess your boss’ reaction to the salary raise request. If your manager is not in the same location, set up a video call meeting via email. Ask your manager when they would be available to have the meeting to discuss your salary before you schedule the appointment.
4. Show your value
You should have cold-hard facts and data if you want to persuade your employer to give you a raise. Note down recent accomplishments that you have achieved for the company, including successful projects, data showing revenue increase, or positive customer feedback that you can share with your employer as you make your case. Show ways in which you have gone the extra mile to increase value to the company. The aim is to convince your boss why you deserve a raise and not complain about why you need one.
5. Do a dry run
Prepare a script of what you are going to discuss. Make sure all your points are clear and specific. Rehearse what you will say to your friends and have them ask you anticipated questions. You can also video record yourself doing the dry run and watch it back to see any areas that need improvement. A career coach can also help you prepare for the D-day if you need a more professional touch. Prepare a backup plan in case your employer also says no. Ask if there is a chance of getting the raise in the future or take advantage of the moment to make another “smaller” request, such as more flexible hours.
Conclusion
Once your employer approves your salary raise, you need to hold up your end of the bargain by maintaining or surpassing expectations that justified your pay raise. You also have to ask your manager about any new responsibilities accompanying the salary increase to ensure you are accomplishing deliverables according to the expected standards. The worst thing that could happen when you ask is that your boss says no. Regardless, you will have learned to recognize your value and campaign for yourself if the opportunity for a pay raise presents itself again in the future. Remember, you will only get more money if you ask for it.
