How to Ask Your Boss for a Raise. Here are five tips and other suggestions that will help you approach your boss confidently and professionally.
- If your job responsibilities have considerably changed or your performance calls for an increase in pay, asking for a raise may be your best option.
- The typical wage raise is from 3% to 5%. (exceptional). A good method to start discussions is to demand a 10%–20% increase, depending on the situation.
- When the employer has just laid off employees, for example, do not ask for a raise then.
- For employees looking to bargain for a salary increase.
The majority of individuals shudder at the idea of approaching their supervisor about a wage boost. Asking can be your only option if your firm doesn’t offer regular annual wage raises and you’re not eligible for a promotion. You should be aware that asking for a raise is quite legitimate, and that the majority of corporate managers and business owners desire to look out for their employees.
Even while the procedure appears unsettling and daunting, it need not be, especially if you know your employer. You will feel more comfortable starting the conversation if you do your homework and are prepared with the necessary information.
Why do you want a raise?
The crucial question to respond to is this one. Before making your request for a raise, make a list of all the reasons why you desire one. Don’t ask for a raise because your rent increased or because you’re annoyed that your coworker doesn’t put in as much effort yet is paid the same as you.
Your proposal should be supported by arguments that are based on your performance and the value you provide to the team and the corporation.
How much should you ask for?
The typical compensation increase is 3%. Anything above 5% is seen as remarkable, with 4.5% to 5% being considered a fair wage boost. You may ask for a salary rise in the 10% to 20% range, depending on the justifications you give and how long it’s been since your last one. But the stronger your justifications, the bigger the percentage you ask for. Asking for 20% is fair if your tasks have considerably altered, such as if you accepted a position with limited travel and are now on the road more than half the time.
Start with a more manageable percentage if, however, you are requesting a salary rise since it has been more than a year since your last one and you have continued to do effectively in your daily tasks. You should balance your desire for a raise with the realities of your efforts even though you still deserve one.
When is a good time to ask for a raise?
There is no perfect time to ask for a raise, according to some individuals, so apply your common sense instead. When your employer has just made layoffs, your department had weak performance for the quarter, or your boss is going through a challenging personal crisis, don’t ask for a raise.
Think about how your firm now handles compensation raises. Approach your manager in November or December if they usually issue increases on January 1. Instead of asking them to modify their mind after you’ve learned about your rate hike, you’ll give them a chance to think about your request and work with their managers this way.
If there isn’t a normal procedure for increases, attempt to propose one at a “good” time, such as after a successful quarter, when you know your employer is happy with your performance, or when no one is feeling tense.
How to ask your boss for a raise
Give yourself enough time to get ready for the discussion and your manager enough time to think about your request.
Instead of unexpectedly knocking on your boss’ door and presenting your request, set up a meeting in advance to demonstrate your respect for their time. Cross that day off your list if your employer is booked up on a particular day of the week.
When the meeting is set, prepare as though you were writing a research paper for college: In your compensation negotiation, look for reliable information and address the following areas.
Knowing your worth and doing your homework before approaching your supervisor in a professional manner are the greatest ways to request a raise. Here are five suggestions for making a successful raise request.
Tips for asking for a raise
1. List your accomplishments from the past six months, the past year and your time with the company.
Give specific examples of how your achievements have benefited your division and the organization as a whole. If you can, include figures and data. For instance, you may state, “I generated 5,000 leads for the firm last year, an 8% increase from the year before. The new business generated from the sales was $58,000.
Any manager would find it difficult to refuse a request when given stats like that. Your argument for a meritorious increase will be stronger the more solid the evidence you present.
You may also show that you are a devoted employee by highlighting the tasks you have completed for the business and the initiatives you have taken to support it. Employers are more likely to trust their employees who are loyal, which will benefit you.
2. Know what a competitive salary looks like for your position.
You can acquire a free salary report to examine how your current pay stacks up against that of other similar occupations on websites like Salary.com and PayScale. Another excellent resource for this is LinkedIn. Either go through the available job postings on the website or utilize the typical wage ranges provided on job postings on LinkedIn. Take into account the size of your firm, the sector in which you operate, and your perks. The best course of action is to contact recruiting professionals whenever feasible because some businesses just don’t pay properly. If you are connected to any local recruiters and hiring managers (perhaps through LinkedIn), ask them to review your CV and give you a reasonable compensation target based on your expertise and position.
3. Let your boss know what’s in it for them.
Remember that your employer is not concerned about your mortgage or the vacation you wish to take. What’s in it for your employer matters to them. You’ve already discussed what you’ve accomplished for the business, but you also want to discuss your future plans. Explain to them your objectives, how they will benefit the business, and how you plan to attain them.
4. Be confident.
When requesting a raise, do so with assurance. Yes, it is daunting, but you have proof to back you up in the form of the justifications for your request and your study on comparable wage ranges. Be ready for some resistance and be aware that the response can be negative. If you receive the increase, be ready to put in even more effort (or harder). Show your boss that you deserve the increase you were promised.
5. Provide your request in writing.
It’s likely that your manager may need to discuss your compensation or salary proposal with another supervisor. Give them a flyer outlining your request, similar compensation scales, and the advantages your work brings the organization.
After the request
It’s doubtful that during that initial meeting, your supervisor would agree. The majority of the time, they will seek some time to go about your request with other decision-makers and then come back to you. It is appropriate to inquire about the timeline for the decision-making process. For instance, you may inquire, “Is it alright if I follow up with you in two weeks if I haven’t heard anything?”
Next, be ready for a rejection. A negative response could be caused by variables that you are unaware of or are beyond of your control. If that occurs, find out what you can do to improve your chances of getting a salary rise in the future. If you are rejected, a good manager would explain why and advise you on how to increase your chances of receiving greater pay in the future.
It’s time to evaluate your career path and your willingness to continue with the company or organization if you are dissatisfied with the justifications given for why a raise isn’t possible or with the route suggested to earn more money. Stay upbeat in the meanwhile.
Maintain your professionalism if you receive a yes. Keep up the wonderful effort and express your thanks. Maintaining positive relationships with your coworkers is also crucial. Your manager will regret assisting you if you boast about your wage increase, and there will be conflict on your team if you do so.
You may feel anxious and uneasy while asking for a wage increase, but there is no harm in trying.
