The desire for better pay has been a major motivation behind the Great Resignation. What if you like where you work – but wish you could make more doing it? Before you quit, maybe it’s time to ask for a raise.
Requesting a higher salary makes many people uncomfortable. Employees sometimes hesitate to ask for a raise because they don’t know what to say, they worry about seeming greedy or they’re simply scared. However, taking thoughtful steps to prepare for a wage negotiation will increase your chances of success.
Ready For a Raise? Here is How to Ask Your Boss For One
Time Your Request
What’s the best time to ask for a raise? Consider negotiating your wages when you are underpaid or when you have been given more responsibility. A good time to ask for a salary increase is when you’ve been performing your job well.
Make sure your timing is good for your boss and organization, too. For instance, if there have been cutbacks or layoffs recently, you might be wise to wait until your company’s financial situation has improved.
Is the annual budget under review? Your boss might have a more difficult time adjusting your wages after the budget is set.
Alternatively, says U.S. News, “if you know that raises are only awarded during annual performance reviews, then consider scheduling the talk with your boss a few months prior. During this preliminary chat, you can outline together any performance benchmarks that must be met before your next review in order to receive a raise.”
How to Prepare
It’s important for you to be prepared before you negotiate a pay increase.
- Know the average compensation for your position in your geographic area.
This will help you decide how much of an increase to request. If you are under-compensated for your city and industry, bolster your proposal with supporting data. (Payscale, Salary.com, Indeed salaries, and LinkedIn’s salary tool can offer valuable information.)
- Quantify the value you have brought to the team and company – especially if you’re asking for more than the typical salary. Your value includes your education, years of experience, and how long you’ve worked for your employer.
Have you developed any specialized skills? What are your recent accomplishments?
“When possible, use numbers to illustrate an accomplishment,” notes Indeed. “For example: ‘Launched a rebranded company website, which resulted in 20% month over month increase in site visits last quarter’.”
- Practice your proposal. You want to appear confident, not timid, demanding, or pushy.
CNBC advises against using phrases like “I think I deserve this because…” or “I was hoping for…”, which “make it sound like you were never actually expecting to receive the salary bump you’re asking for.”
If you have come prepared, you know your request is reasonable.
- Schedule time to talk with your supervisor. This is not a conversation to begin in the hallway or just before quitting time.
You’ve taken the time to prepare, now show you are serious by formally requesting a meeting with your boss.
- Whatever the outcome of your meeting, thank your manager for making time for you. Follow up with an email that summarizes the discussion. That way, there’s a record of the conversation. You can recap your primary arguments, which will be helpful if your request requires approval by higher-ups.
Negotiate with Confidence
Go into your pay raise negotiation prepared with strong arguments and supporting data and your confidence could win the day – and a larger paycheck.
If a raise isn’t in the cards at your current job, contact the placement experts at Pro Resources Staffing Services for help finding a position that’s a better fit.