Many of of us believe we deserve a pay raise but most of us do not know how to go about it. Asking for an increase in salary is sometimes an akward conversation, so most of us shy away from it. People spend about five or six or more years at a particular company without a pay raise. I had a friend who worked for a particular company for seven years without a salary increase. Shecomplained about how she was being snubbed while those she felt were close to the company's management were getting an increase. She wanted a wage increase abut she wasnt sure about how to go about it. Here are some tips that could help you achieve the pay raise.
Have a career plan
You need to have a written down career plan. The plan should include your goals, time period to achieve those goals and how you can achieve those goals. Lots of people do not have a career plan and tend not to know when to ask for a raise. If you want to achieve something, you need to have a well thought out plan. Have a twenth year career plan that includes your promotion goals and salary increasegoals.
Know your value
You need to know your worth to the company as in how much you contribute to the company. You cant ask for a pay raise if you cant provide evidence that would justify the raise. It is important for you to evaluate your contribution to the company to determine this. Here are some questions to ask yourself to determine your worth to the company.
Do your research
Do your research about what your peers earn, i mean other people in your position. It is important to know what others earn in order to use it to booster your arguement during the salary negotiation. Make sure you ask a family, friend or colleagues for advise when such information is not readily available.
It is important to know what the market is paying for someone with your credentials and level of experience. It is advsable that you use atkeast two or more sources.
Timing your request
The timing of your request is also another important factor that you must consider. Find out when your company promotes its workers, wether its during the year or eork anniversary. Most people tend to ask for pay raise after their evaluation and it is usually late by then. For big companies who operate on budget, you need to ask atleast three months before the evaluation or two months before the end of the year. This timing is important in large companies because salary increase must be included in the budget before it can be approved.
It is advisable not to ask for a pay raise when your company is going through a downturn or trying to cut cost.
Let people know your value
Make sure that other people in the company know your value. Hardwork is not sometimes enough to get the salary increase you desire. Advancing your career in today's workplace requires taking an aproach that is less about you and more about others. One of such approach is doing more than your job description. Just doing alone what you are rewuired to do would not get you noticed. The most effective way to be noticed is being efficient at helping others become efficient in doing their jobs. It involves being a leader. It involves placing yourself in a such a position that when people are looking for help, they automatically seek you. These doesnt mean that you should be a pushiver. But whenever you come across a colleague in geniune need of help, please offer one.
Practise
Look a friend, relative or coworker to practise salary negotiation with. Salary negotiation can be an award conversation, having a practise session would let you know how well prepared you are for it. It would also boost your confidence when taking part in the real negotiation.
Ask for the pay raise
The final and most important step in getting a salary increase is to ask for one. Many workers are usually too scared to ask for raise due to fear of rejection or termination of employment. You would never know whether you would get it or not until you asked. So just take the bull by the horn and ask for what you deserve. Tips about asking:
Have a career plan
You need to have a written down career plan. The plan should include your goals, time period to achieve those goals and how you can achieve those goals. Lots of people do not have a career plan and tend not to know when to ask for a raise. If you want to achieve something, you need to have a well thought out plan. Have a twenth year career plan that includes your promotion goals and salary increasegoals.
Know your value
You need to know your worth to the company as in how much you contribute to the company. You cant ask for a pay raise if you cant provide evidence that would justify the raise. It is important for you to evaluate your contribution to the company to determine this. Here are some questions to ask yourself to determine your worth to the company.
- How are you performing in comparison with your colleagues at work
- If you were the supervisor, would you be satisfied with your work.
- Have you been surpasing underperforming in terms of the company target.
- Have you acquired new skills or undergone any new training that would make you more valuable as an employee.
Do your research
Do your research about what your peers earn, i mean other people in your position. It is important to know what others earn in order to use it to booster your arguement during the salary negotiation. Make sure you ask a family, friend or colleagues for advise when such information is not readily available.
It is important to know what the market is paying for someone with your credentials and level of experience. It is advsable that you use atkeast two or more sources.
Timing your request
The timing of your request is also another important factor that you must consider. Find out when your company promotes its workers, wether its during the year or eork anniversary. Most people tend to ask for pay raise after their evaluation and it is usually late by then. For big companies who operate on budget, you need to ask atleast three months before the evaluation or two months before the end of the year. This timing is important in large companies because salary increase must be included in the budget before it can be approved.
It is advisable not to ask for a pay raise when your company is going through a downturn or trying to cut cost.
Let people know your value
Make sure that other people in the company know your value. Hardwork is not sometimes enough to get the salary increase you desire. Advancing your career in today's workplace requires taking an aproach that is less about you and more about others. One of such approach is doing more than your job description. Just doing alone what you are rewuired to do would not get you noticed. The most effective way to be noticed is being efficient at helping others become efficient in doing their jobs. It involves being a leader. It involves placing yourself in a such a position that when people are looking for help, they automatically seek you. These doesnt mean that you should be a pushiver. But whenever you come across a colleague in geniune need of help, please offer one.
Practise
Look a friend, relative or coworker to practise salary negotiation with. Salary negotiation can be an award conversation, having a practise session would let you know how well prepared you are for it. It would also boost your confidence when taking part in the real negotiation.
Ask for the pay raise
The final and most important step in getting a salary increase is to ask for one. Many workers are usually too scared to ask for raise due to fear of rejection or termination of employment. You would never know whether you would get it or not until you asked. So just take the bull by the horn and ask for what you deserve. Tips about asking:
- Schedule a meeting with you boss/ supervisor
- Start the conversation on positive note
- Be specific in your denand
- Present your facts/data
- Dont be arrogant
- Dont threaten
- Thank your supervisor even if he rejects
- Ask for the reason when rejected
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