“Research shows that 75 percent of raise requests result in some kind of salary bump.”
Most people find it difficult to talk about money. And when it’s with the boss, it can be all the more terrifying. However, if you think you deserve an upgradation and your organization is not bringing it up, you have to take the initiative and broach the topic with your boss.
“The universe doesn’t give you what you ask for with your thoughts - it gives you what you demand with your actions.”
Remember there is no need to be anxious, you just need to know when and how to ask for a raise. Asking for it at the right time and in the right way can put the odds in your favour.
So when should you ask for a raise?
If you are REALLY underpaid
Sometimes it may so happen that you really like a company and take up a job there even if you feel that you deserve much more than what you are being offered. Or else, you may have joined a company as a fresher with a lesser package due to lack of experience.
As you start working, you feel that you deserve much more for the amount of hard work that you put in every day. In such a situation, it is completely okay to ask for a raise.
Here’s a tip for you - using the right words when asking for a raise is very important. Money is dear to everyone, so ensure that you approach your boss with real facts. Do not simply barge in and say that you deserve a raise because you are underpaid. Instead, highlight your accomplishments and show your boss why exactly you deserve better pay.
You can also do some quick research regarding the average pay scale of your position in the industry to further strengthen your point.
When your job role is changing
Your job profile when you started off in a company will not be the same forever. In fact, within a few months you will realise that your daily tasks have changed. You probably are having a heavier workload now. Apart from that, it can also be that a colleague quit or was terminated, and you had to take up his/her responsibilities. These situations are a good time to ask for a raise.
When you’re putting in extra efforts for a particular project, ensure that you talk about the raise with your manager/boss while the project is still on. If you bring up this topic after its completion, remember the work will already be done and there will be something else in the pipeline that will need attention. So, your case may be overlooked in this whole scenario.
If you not just perform, but over perform
People can have more than one skill, and that is something really valuable for a company. You can be an excellent graphic designer and at the same time you may also be great at writing ad copies and handling accounts while being a great team leader. You have always been praised at employee appraisal meetings and your boss is a great fan of your multitasking skills. All of this makes you extremely qualified to ask for a raise.
When you fix your meeting to talk about it, build your case with facts and figures. Give past examples of how you have helped the organization make or save money, handled a tricky situation, lead a team to finish a project in the stipulated timeline or simply made everyone’s life a lot easier at work.
If you can put forward your point with relevant proof, the chances of you getting what you want will be much higher.
A few tips that can help you when asking for a raise:
- The most preferable time to ask for a raise is in the morning. Catch your boss sipping on coffee and sitting with a happy mood, and you know that’s the perfect time to broach the topic!
- Mondays are a strict no-no while discussing monetary issues. The workload tends to be heavier, and there can be a high probability of you coming back empty handed. The middle of the week or Fridays are a better option.
- Make sure you look professional when you go to ask for the raise. Don’t forget to iron your blouse or tie and polish your shoes. It will make you more confident. And yes, say it with a smile.
- While nobody likes a negative answer, having a backup option is always a must. So, even if your boss doesn’t agree to a raise, there can be other ways to compensate like extra paid leaves, more options of work from home, a new laptop etc.
- Be polite. It should not seem like you’re threatening your boss, otherwise you may lose not only the chance of a raise, but also the job!
- Refrain from talking about the salary of your colleagues to prove your point. It will just add on to office gossip and the colleague may also end up in trouble because of you.
- It is always better to ask for a raise in person rather than just sending off an email.
You cannot demand an immediate answer right after you put forward your point, but if you are confident, you can expect that the decision will be in your favour. Don’t be disheartened if your request is turned down, as you can always try again. Download the interviewfox.com mobile app and get the opportunity to bag your dream job!