In an ideal world, your boss would notice your hard work and give you a salary increase. In the real world, this is almost never the case. If you want more money, you have to ask for it.
Negotiating a raise can be uncomfortable and nerve wracking, to say the least. But it pays to be prepared. Here are a few tips to help you get what you want.
Do more to earn more
Be willing to take on extra work. Learn about what you need to do to move to the next level. Make sense of the core strategy of the company, and use it to your advantage. Ask questions. Showing initiative and doing more than what is asked of you proves that you’re worthy of a raise or promotion. Just make sure that you manage your time correctly to avoid slacking. And, be sure that a raise does follow after taking on those responsibilities!
What’s your worth?
Have you boosted sales lately? Increased the company’s social media following? Make sure you have your achievements on hand. Prepare a portfolio of all your accomplishments. Show how you’ve gone above your job description to complete certain tasks and projects. Don’t be shy about detailing how you’ve made a positive impact at work. This will show your value to the business and your future potential.
Be your own brand
It can be awkward to talk about yourself, but if you want that raise, you have to sell yourself. In essence, pushing for a raise is a sales pitch. You need to justify why your employer should invest more in you. Talk about your strengths and your successes, and how you contribute to the company. Focus on how your performance makes you worthy of a raise, and be confident about it. Be assured about your unique selling point.
Watch the clock – in a good way
Timing is everything. Don’t wait for your performance review to ask about a raise. Salary decisions are often made before the process, so get your request on the table a few months ahead. The best time to ask for a raise would be after you completed a big project, solved a major problem, or did something else that was noteworthy. Also, think about timing in terms of your company's overall performance. If your company recently had a major layoff or an unprofitable period, it may not be a good time to bring up a raise.
Talk about your future plans and what you want to achieve in the next few months. Explain the new responsibilities you’d like to take on in order to achieve the goals you have in place, and how it will help the company grow. Show that you’re loyal and invested in the business. This will give your employer reason to invest in you.