Do you feel you are underpaid and due for a pay raise? If you did your research, would you find that others in your area do what you do and are paid more? Have you been afraid to ask because it looks like your motivation is only compensation based? Does your stress level increase just thinking about it?
You may be due for a raise and aren’t offered one. Sometimes we need to ask, and you must know how. It takes a lot of courage, but these tips will help your chances at success.
- Do your research. Ensure you know your market worth and gather evidence. Check what similar jobs in your market are paying, their qualifications, expectations, and experience. Use those as comparables for your job.
You need to know the local average salary for a comparable job. Don’t compare a job in San Francisco to one in Halifax, as the location matters significantly. Compare the years of experience, specialized skills, education, perks (such as retirement, remote work, or medical insurance), and required certifications. This information will provide solid evidence to support your case for more money. Remember, it’s not about expressing a mere desire for more money but rather highlighting why you genuinely deserve it.
- Document your achievements. Highlight your accomplishments, increased responsibilities, and any additional value you bring to the company. Keep track of any workshops or conferences you’ve attended, any certifications you may have achieved, or projects you were part of. Organize your points so your boss can see the value in your contributions and why you are worth more than they are paying you. Use metrics such as sales numbers, cost savings, or increase in productivity (for you or them).
- Know what you are asking for. This is precisely why you need to research to know what is reasonable and fair. A good pay increase range is 4 – 5% (asking for too much will guarantee a turndown even if the market supports asking for significantly more). You must prove you are worth that increase. The higher percent you ask for, the better justification and proposal you should have.
- Practice your pitch. Stand in front of a mirror or rehearse with a friend to boost your confidence and remove the emotions from the conversation. Learn when to stop talking and let your boss talk. You’ll need an extra confidence boost when you ask for the raise, so get comfortable with what you will say, what responses you might expect. Remember that communication is a two-way street, and you need to consider what responses they will offer. Practicing will make it easier for the real thing.
“Thank you for meeting with me today to discuss my salary. I’ve examined my skill set, experience, and accomplishment with this company, compared them to the current job market, and decided that it’s an appropriate time to ask for a raise.”
- Schedule a meeting. Once you’ve done your research and are ready, it is time to make it real. Be professional and respectful when requesting a discussion about your compensation but give them a heads up that you want to talk about a raise so they can be prepared too.
When scheduling your meeting, recognize that timing can be crucial regarding budgeting or cutbacks. Don’t schedule a raise discussion if you have only been in your role a short time, either. You need to give yourself time to prove your worth by building a track record of success. The best time to have this discussion (depending on budgeting season) is alongside your performance review.
- Articulate your value. During your meeting, clearly communicate your achievements, responsibilities, and why you deserve a raise. Make sure everything you’ve done is in a well-structured and organized manner. You aren’t going to tell your boss you want a raise, but you are going to explain why you deserve a raise.
- Put your request in writing. Following the meeting, create a formal written proposal summarizing your points and serving as backup for your raise request. This document should be professional (not just a summary email), thorough, and persuasive, reinforcing your case for a salary increase.
- Actively listen to your boss’s feedback. Be open to suggestions and constructive criticism. Don’t get defensive, don’t interrupt, and stick to the facts. Listen to what they are saying to you. They may agree you deserve more money but be stuck where they cannot give you more. You need to understand their perspective as it helps you negotiate effectively.
- Negotiate if needed. Be prepared to discuss your expectations and explore alternatives that benefit both parties. If money is the issue, are there other valuable perks? A new title, remote work, an allowance for your home office, more vacation time, flexible working hours, or opportunities for further education? Negotiation is about finding common ground and mutually beneficial solutions.
- Be confident. If you have genuinely earned this raise, be confident in asking for it. Clearly demonstrate your worth, emphasizing your value in the marketplace. Avoid being all wishy-washy or explain you need more money because you bought a car. Confidence, professionalism, and a strong case for your worth are essential for success.
If, for some reason, you are denied your raise, you need to ask what is required of you to earn a salary increase so that you know what is needed. That will help you the next time you are due for a salary increase.
Negotiating a raise can be intimidating. Follow these steps to ask for a raise with confidence and professionalism. Remember, thorough research, documenting achievements, effective communication, and a willingness to negotiate are key.
