Review season is upon us, and you are eagerly awaiting your performance review and if a pay increase will accompany it. You hope your manager will see your self-assessment and give you a ranking and a salary increase if it accurately reflects you. It can be accurate or not.
You may be wondering how to request a salary increase. Many people are afraid to ask for a pay increase. They may feel uncomfortable talking with their boss or worry that they will sound greedy.
Successfully asking for a salary raise is about presenting facts and examples that support your case. You may not get a yes right away, but you can make it more difficult for them to reject you. It would help to remember a few do’s and don’ts when you ask your boss for a raise.
When is the right time to ask for a pay raise?
Every year, after the cycle of performance reviews, organizations review the salaries they pay their employees. You are promoted or given a pay raise based on your performance. Some organizations do not give you a raise automatically. If you think you deserve a pay raise and are wondering how to request one, you should lobby your manager to discuss your achievements and why. It is reasonable to ask for a raise if it’s been over a year since your last pay increase or if it has been quite some time since you were compensated.
Know the value of your work.
What is the current market rate of your position and location? Salary levels can vary greatly depending on the site or region in which you work. You’ll be able to justify a raise if you can prove that you are being underpaid compared to other people who perform similar work within your region. If you’re already on top of the pay scale, you should do some research and provide additional rationale to support your claim. Some websites that provide salary information may need to be more accurate because different organizations may have other job titles or work.
You can start your research by visiting sites like Glassdoor or PayScale to determine your market value. You should ask for a pay raise if you are being underpaid after doing thorough research.
Use Your Emotional Intelligence
No matter where you sit, performance reviews can be stressful. Managers must work hard to check and prepare for feedback and performance. When you ask your manager for something, remember that your boss has feelings as normal as yours. You must choose the best time to start this conversation. If you schedule a meeting early, let your manager know what you will discuss. You can also practice your message to your manager to increase confidence and to ensure you don’t sound negative.
You can put your cards out there if you’ve recently won a client, completed a significant project, or gone “above and beyond” your regular duties. If your manager is satisfied with your recent work, now is perfect!
Build Your Case
Many assume they must create a detailed presentation explaining why they want a raise. Your request does not require a complex slide show. You can keep it short and straightforward. Be sure to mention legitimate reasons for your importance and why you’re essential to the business. Make sure that your pitch is not only about you but also about the company. Explain to your manager, for example, how your responsibilities or contributions have changed and how this has also benefited the organization. Your case study should be limited to the most critical points and highlight your accomplishments.
Take What You Deserve
You should know that nearly everyone is nervous about asking for a raise. It’s natural. It’s only natural to want what you deserve. You can increase your chances of getting a raise by researching and listing your accomplishments and the value you add to your company. Also, respecting your manager’s timing and sensibility will help you earn their respect. Now you can learn Q&As about the 2022 appraisal season.
Feel free to request a raise but do not receive one. Try learning or improving your abilities. You can also use the opportunity of being denied a pay raise to find out what you need to do to be eligible for one during your next performance review cycle. You can always prove yourself to your company in the next round.
