If your goal is to stay in your current job, working for your present employer, you’ll need to ask for a salary increase. Other than the once-a-year across-the-board raises and the occasional bonus or profit-sharing check you may receive, asking for a salary raise is the only way to seek a higher amount.
Planning and preparation are key when you ask for an increase; you need to convince your employer that your contribution to the work of the company is worth above and beyond the usual annual income.
Steps in Asking for a salary increase:
Familiarize yourself with your employer’s remuneration practices. If the standard practice is to offer salary increases once a year after an annual review, you are unlikely to receive an increase at any other time. If your company offers more frequent increases, you’ll have more luck asking for a pay raise.
Research the market pay rates for your job. Getting information has never been easier, although you’ll want to take care when you use online projections and salary calculators. If you are already paid above your market pay rate, negotiating an increase can be difficult.
Ask yourself why you deserve a pay raise because you will need good data to support your request. Maybe it’s smarter to ask your boss what you need to do to qualify for the highest possible pay increase and bonuses in the future if you cannot justify a higher salary now.
- Make a list of the goals you have accomplished for the company and the ways in which you have contributed more than your job required. Documented, these accomplishments may justify a pay increase.
- Make a list of any additional responsibilities you have added to your job. An increase in responsibility, more employees, management on your team, or special projects are often grounds for an increase if you ask.
- Learn about negotiation from books, resources, networking, and friends who have successfully negotiated a pay raise.
- Set up a meeting with your immediate manager or supervisor to discuss your compensation. You will not want to ambush your supervisor or blindside her. Additionally, if the manager is unprepared to discuss an increase with you, nothing will happen at the meeting.
- Be straightforward in addressing your request for a raise to your manager. Tell the manager you are asking for the raise at this time because of the accomplishments and contributions you have made, and the additional responsibilities you have taken on.
- Tell your boss the specific increase you’d like to see. Be prepared to present your research that supports your request.
- If the boss tells you he cannot provide an increase in remuneration currently, ask what you need to do to make yourself eligible.
Remember that a difference exists between an employee who is performing the job as expected from a superior performer and an employee who is truly giving the employer superior performance. Salary increases are based on the second.
You build your confidence that asking for a raise is a task that you can do. And, you increase the possibility that you will achieve your maximum income potential in your chosen field.
