Marie Raperto, The Hiring Hub
Deserve a raise? Everyone wants to make more money but many people do not ask for it. Asking for a raise is normal, not doing it can put you behind. Don’t be afraid to ask. If done properly, most managers will listen to the request. The secret is in how you do it.
- Timing is everything. If you company/department have been doing well financially, they may have the money. If they are not doing well, it may be time to look for new opportunities.
- How have you been doing? You need to make your case why you deserve this raise. Be prepared to show that you’ve not only met your goals but exceeded them.
- Know when the company gives raises and when they budget for them. Asking for a raise when you’ve gotten your annual review a few months before is not the right time. You want to plead your case before budget time so your annual merit increase reflects all the hard work you’ve done.
- Try to find out what you are worth in the marketplace. You can use various sources and some job ads list salary ranges. Also, if your job has changed and you’ve taken on more responsibilities, remind your boss.
- If you’ve received a better offer but want to stay with your present company, be prepared to show the offer.
- Understand if your request is turned down. Use it as an opportunity to open a discussion on why it’s been declined, what you need to do to make more money and what are the promotion opportunities available to you.