If you’ve been working at your job for a while and exhibiting excellent performance, it might be time to ask for a raise. But how can you do so effectively and professionally? Here are a few tips to keep in mind if you’re getting ready to ask for more money.
#1: Highlight Your Accomplishments
If you’ve accomplished a great deal and provide a lot of value to your employer, it’s normal to ask for a raise, so don’t be scared! Remember to highlight your accomplishments, like a major project you recently completed or sales you’ve brought in, rather than your own needs. If you just had a child or bought a new car, it’s probably not the time to bring that up to your boss. Instead, focus on the positives, and make a list of specific things you’ve done recently that you believe warrant a higher salary. Maybe you’ve taken on more responsibilities since another team member left, brought on a new client for the company, trained new employees, or stepped up your game in terms of efficiency.
#2: Choose the Right Timing
Do you know how your company is doing financially? If it’s the time of year when your company usually faces some strain, or if there have recently been layoffs, it’s probably not a great idea to ask for a raise now. Instead, wait until an annual review or just before it’s scheduled in order to make a good impression at the right time.
#3: Prepare Your Pitch Beforehand
So you don’t get nervous in the room with your employer when the time comes, prepare a pitch to ask for your next raise. It should be concise and straightforward, including your recent accomplishments and either a specific suggestion for the value of your raise or a question about reconsidering your salary. Keep it simple, and don’t be afraid to mention the value you bring to the company and the skill set you feel you contribute to your team.
#4: Don’t Be Afraid to Ask Again
If your boss says “no” or “ask later,” don’t shy away from asking for a raise again. It’s best to wait a while, usually at least six months, before requesting a raise or another discussion about one. Fielding questions about salaries and hourly wages are just part of the job when it comes to managerial work, so your employer should never make you feel as though you shouldn’t broach the topic.