A Guide to Getting a Raise and Boosting Your Salary
You’ve put in the hard work, and now it’s time to reap the rewards. You want to negotiate a raise, but you’re not sure how to go about it. Fortunately, asking for a raise isn’t as scary as it might seem — you just need some tips on how to do it right!
Adopt the right mindset
To get a raise, you need to have the right mindset. A successful approach is to be confident, prepared, patient, professional and humble. If you’ve been working hard and learning new skills, don’t be afraid to ask for what you deserve. You should also be persistent about getting a raise—if it doesn’t happen right away, try again in a few months.
Pay attention the value you bring to your company
Another way to get a raise is by knowing the value you bring to your company. Know what you bring to the table and how much it’s worth. Think about:
- How much are you paid?
- What are your skills and abilities?
- Does your company need these skills and abilities?
- Are there other people who have similar experiences but do not cost as much?
Do your research
Now that you’ve decided to ask for a raise, it’s time to do your research and learn what the industry standard is.
You’ll first want to look up the average salary for someone in your position. That way, when you’re talking with your boss about raises, you’ll know exactly how much more money they should be giving you.
Set up a meeting with your boss
Set up a meeting with your manager or CEO and discuss your performance, career path, salary, benefits, or work-life balance. You should ensure examples of your performance that can help illustrate what you’ve accomplished at work. Also, show evidence of how much time and effort you put into being successful at work so that they understand why they should give you a raise.
Prepare for the meeting
Before you approach your boss about a raise, be sure to prepare. This means preparing your argument and preparing yourself for the meeting in advance.
When it comes to arguing your case, there are three main points that every good employee should be able to articulate:
- How have you helped the company?
- How have you helped yourself and grown as an individual?
- What skill sets do you plan on developing in the future?
Know when to ask for a raise or promotion
At the right time, it’s worth asking for a raise or promotion. Here are some factors to consider:
- If your company is doing well with a growth graph, increased profits or improved operations in the last year or so, that’s a good time to ask for an increase in salary or title. Your boss will be more likely to say yes when things are going well than if they’re struggling with issues.
- When you’ve been with the company for a long time—and done well while there, then now might be an ideal time to ask for another bump up in pay or responsibility level.
Hopefully, these tips are worth learning. Intuit suggests, :Negotiating a raise doesn’t have to be intimidating. If you do your homework, know what you want and are prepared for a professional conversation, you can reap rewards.” Remember, when it comes to salary negotiations, it’s all about preparation and strategy.