Four Easy Steps to Asking for a Raise
If you're ready to ask for higher compensation, read this first. There are four easy steps to navigating a pay increase discussion.
So, you want to ask for a raise, eh?
Are you sweating yet? For many people, the mere thought of discussing pay expectations with their manager causes distress, sweat, and anxiety. Although discussions about pay carry a reputation for being notoriously tricky, it doesn't actually have to be that way.
When you're ready to talk about this with your boss, consider using this approach. Never blindside your manager with this discussion. Seriously, don't. Instead, tell them you want to discuss your compensation, then put some time on their calendar for the actual discussion. This will help to ensure everyone shows up to this meeting with the right mindset.
1. Do your research. Benchmark your salary against what other people, who do similar work, are paid.
2. Create a minimum and maximum range of what you want to be paid. Don't give one figure - set your boss up for success than giving them options.
3. How is your company performing currently? Timing is everything when it comes to requesting a raise, so make sure the company's financial performance is good. If things aren't going well financially, the chances you'll get a pay increase are very slim.
4. Consider your own performance and effort. Write down what you've accomplished and how it positively impacted the organization. Be honest with yourself - is it raise worthy? This is a great time to revisit what you're asking for to make sure it aligns with your results.
Remember, just because the timing is right for you, it doesn't mean the timing will be right for the company. If you aren't able to get what you want right now, be sure to ask your manager this question, "How soon can we revisit this conversation?"