Seeking a pay raise is pretty normal and everyone at some point finds themselves in a situation to ask for a salary review. You will learn to broach the subject to your manager and the right things to say to improve your odds for a raise.
Photo credit: wirestock
I guess you’re qualified and due for a pay raise at your current job and you probably don’t quite understand the rudiments of asking for a salary increase. As you advance in your career path and take on higher or senior roles with its follow-on increase in the level of responsibility and ranking; Organizations establish a pay scale or pay grade that dictates the remuneration of staff according to their designated roles and job functions and contributions to the bottom-line of an organization. When you feel your current position, (including experience) and level of input in your organization is underappreciated in terms of monetary reward, then you should go ahead and have a sit-down with your manager or boss for a possible salary increase.
In this article, we’d expatiate steps to follow and things to consider before asking for a salary review.
1. Choose the right time to ask
Timing is crucial when asking for a raise. Choosing the right time to ask for a pay raise is a good way to begin—prior to seeking out your manager for a discussion. Ask yourself these questions as you’re identifying the right time to ask for a raise:
How is the financial health of your organization?
If your company is not doing well financially, then it surely isn’t a great time to ask for a raise. As an employee, you may be aware of the company’s financial health. You should look for warning signs, such as curtailments in spending or layoffs. Check the news for stories about your employer or industry and look at financial reports.
What is your manager’s workload?
If you know that your manager is under a lot of pressure from work or focused on too many things at the moment, it may not be the right time to ask for a raise. Paying attention to your manager’s moods and identifying how to help them demonstrates maturity and thoughtfulness that will be useful to mention in your conversation about compensation.
When is the best time of year to ask for a raise?
In many businesses, there are times when it is convenient to talk about pay. Some employers may conduct annual or quarterly reviews with employees. If you have one coming up, your employer might already expect to discuss your compensation.
The end of the fiscal year could be another option. A fiscal year is a 12-month period that companies use for budgeting and tax reporting purposes. At the close of that period, employers are likely making recruitment and compensation plans for the next year.
If you see that one of these opportunities is in the offing, make note of it on your calendar. This will give you a headstart on planning for the conversation with your manager.
Highlight your most significant achievements
If the company is doing well and your manager isn’t too stressed, but a convenient time to ask for a raise isn’t coming up, reflect on your recent accomplishments. Have you just reached an impressive milestone or exceeded an important goal? This could be a good time to ask for a raise.
Be sure to document the details of the specific accomplishment(s) you’ll reference in your conversation about a raise.
2. Get salary trends
At this stage, you may be asking yourself how much of a raise to ask for.
Every job has a market value. This value is usually within a certain range. To learn the salary range for your job, visit Payscale and enter your job title. You’ll be able to see the national salary trend for your job title. You can then choose the state or city where you work to get a pay rate that’s appropriate for your locale.
By learning about the trend for your job title and your city, you will have a foundation for understanding the monetary value of your work. From there, take the following steps:
Consider your qualifications
Consider your education, years of experience, years you’ve worked for your current employer, and any specialized skills or attributes you bring to the table. These all add value by increasing your ability to perform the job. Ideally, your employer would take them into account when determining your compensation.
Make a list of your accomplishments
Take special note of which ones added the most value to your organization. When possible, use numbers to illustrate an accomplishment. For example: “Launched a rebranded company website, which resulted in a 20% monthly increase in site visits in the last quarter.”
Identify a salary range or percentage increase in pay that you’d be happy with
Note that 3% is considered an average or even generous pay increase. That shouldn’t necessarily deter you from asking for more if you believe your current pay is significantly disproportionate to what you could earn, but it can give you an idea of where to start.
3. Schedule a meeting
It’s ideal to ask for a raise in person and in private. If you’re not in the same location as your manager, have the conversation over a video call, if possible.
Do not ask for a raise without setting an appointment on the calendar first. The best setting is a room with a closed door. Don’t discuss it in workplace common areas, such as a cafeteria or hallway. If you can avoid it, don’t ask for a raise in an email.
If you have a performance review coming up, you may not need to expressly invite your manager to a meeting since that review may already be on the calendar. If you’re not asking for a raise during a performance review, you may want to put the meeting on the calendar at least two weeks in advance.
In either case, it’s good to let your manager know that you plan to discuss compensation in this meeting. Here are some lines you can use in the meeting description or in an email.
-
“Would it be alright if we spent some time during my performance review discussing my compensation?”
-
“I’d like to set up a short meeting to discuss my compensation. Please let me know if this time works for you.”
You should approach asking for a pay raise with the same level of seriousness you would have for a job interview or an important presentation, and you should dress accordingly. Even if your workplace has a relaxed dress code, consider dressing slightly more formally for this meeting. Your appearance can convey to your manager that you understand the significance of the conversation.
4. Prepare what to say
Before your meeting, you should prepare what you’re going to say to get a pay raise. Below are some guidelines and an example script.
Rehearse
As you’re preparing, it may be helpful to recognize that feelings of fear and anxiety are natural when discussing money. Writing and practicing a script is one way to manage those feelings. If you rehearse it enough, you’ll be able to stick to it even when you’re nervous. Throughout your script, focus on your key achievements at your organization rather than personal reasons why you deserve this raise.
Start with an opener
Begin your conversation by clearly stating the purpose of the meeting. You may consider opening lines such as:
“Thank you for taking this meeting. I’m excited to share some of my recent accomplishments with you and discuss my salary. Is now a good time for that?”
Follow up with specifics
If your manager is open to the conversation from there, follow up with specifics: tell them the increase or salary figure you’d like, cite the research you’ve done to arrive at that number, and close with examples of your work that justify a pay raise. When you give an example of your work, include a metric that makes the value clear. Here are some examples of accomplishments backed up by metrics:
- “I’ve consistently exceeded my sales quota, most recently reaching 128% of my monthly goal.”
Here’s an example script for asking for a raise:
-
"Thank you for taking the time to meet with me today. In my current role, I’m excited to keep working towards key company goals and grow my personal responsibilities. As a result, I’d like to discuss my salary."
-
"Based on the research I’ve done, which includes looking at averages for my job title in this city and considering my tenure here, my years of experience and skill set, a salary increase of X% is appropriate."
-
"In the time since my last salary adjustment, I’ve worked on several initiatives that have added significant value to the company. For instance, in the last few months, I [insert example your most impressive accomplishment]. These achievements have made me ready for a raise."
Tip: Throughout your pitch, avoid words that could downplay your position, such as: believe, feel, think, just, only, might. These words can make it seem that you are not feeling confident or sure—and if you convey uncertainty, your manager may become uncertain, too. Go into this conversation knowing that you deserve a raise and communicate your confidence with strong words that leave little room for negotiation.
5. Be ready for questions
If you’ve asked for a pay raise at a good time and given evidence that you deserve to be paid more, you should expect your manager to give your request careful consideration.
You can expect them to ask you follow-up questions, such as inquiring about the details of your recent accomplishments or the salary research you’ve done.
You can also expect there to be some negotiation. Listen carefully to how your manager responds to your request. If you feel intimidated at any point, return back to your evidence to strengthen your case. Ask your own questions to understand where they’re coming from.
Of course, there is the possibility that you receive a rejection when you ask for a raise. In this case, you should learn more about why you are being rejected. Ask questions such as:
-
“Are there skills or accomplishments you’d like to see from me before increasing my compensation?”
-
“Are you satisfied with my performance overall?”
-
“Is there a better time for us to have this conversation in the near future?”
It’s also normal at this stage to negotiate about the salary increase you initially suggested. You may need to ask for a lower amount if you are met by a lot of resistance.
If a raise doesn’t seem possible at this time, you may consider asking about other elements of your compensation, such as vacation time or flexible hours.
6. Show appreciation
Regardless of how the conversation went, end by thanking your manager for their time. Later that day or the next, send them a follow-up email that recaps your reasons for asking for a raise and include a summary of the conversation you had.
If your manager needs to ask someone else about your raise, this email will make it easier for them to have a conversation on your behalf. If they reject your request for a raise, this email can serve as a record of the conversation. You may decide to request a raise again at a later date, and you can reference this email at that point.
Bottom line...
If you feel you are not being compensated fairly and aren’t making progress with your efforts at getting a raise, it may be time to look for a new job.
You'll also like: Should I keep my salary a secret?
