Read These Books to Become a Better ManagerApril 11, 2022
What is to Blame for Employee Turnover?August 17, 2022
Too nervous to ask for a higher salary? Don’t be! You could be selling yourself short if you don’t take the time to talk with your boss. Make sure you’re prepared first! By doing your research, collecting information on your contributions, and planning your presentation ahead of time, you will have the confidence necessary to negotiate your next pay raise.
How do you know it’s time for a raise?
- Your company is doing well financially, and you can prove you’ve contributed
- It’s time for your annual performance review
- Or you haven’t had a performance review in a while and it’s time
- You’ve met your goals and likely succeeded them
- Your work has helped the company make big strides
- You’ve taken on additional responsibilities
- Your skillset is in demand in the marketplace
- The pay rate for your job is higher at other companies and you can prove it
- You’ve got a job offer from another company
- You’ve been given a promotion
- There’s been company turnover
If you meet any of those requirements above or you just know it’s time, then start with these steps…
Do Your Research
Before you ask, research the salary range for your position. An unreasonable salary request will only get you a quick no. However, this information will support your case if you’re being underpaid. Make sure to compare salary ranges for your location since the Midwest is going to look different than the East Coast. Don’t forget to take into account education and years of experience.
Collect Your Data
It’s up to you to prove your case that you’ve earned a pay increase. You want specific numbers on your work such as projects completed, sales increases, or company cost savings. Collect all positive reviews or awards you’ve received since your last raise. Detail how you are an asset to your company and how you work together with your colleagues through examples.
Note: You should ALWAYS be preparing for this day! Keep collecting praise, accomplishments, client reviews, internal accolades, etc. all throughout the year and beyond. If you start collecting this information from day one, then when the time comes, you’ll be ready.
Present Your Case
Set up a time with your manager to speak with him or her in person. Let them know that you want to talk about reviewing your compensation. Be smart about the timing of your meeting request, such as not during the middle of a stressful work project. Have an outline of your talking points or a prepared statement. You want to be respectful and confident, but not come across as a complainer.
This meeting could be awkward but remember this is your chance to give your manager the talking points they will need to get your raise approved by their managers. So go all out!
Don’t Give Up
If your boss says no to a pay raise, don’t quit trying. You’ve already established that you are willing to show your worth when it comes to compensation. Before ending the meeting, be sure to ask if your salary can be reviewed in a few months. Next, ask for specific ways you can earn that raise and meet (or exceed!) those expectations. Use those requirements from your manager to guide your goals and next steps.
Remember, you won’t know until you ask, so don’t keep waiting!
Ready for a change?
Perhaps mutual respect is what you’re after and it’s just time to start looking. Westphal Staffing is your resource to start looking. With professional expertise we can guide you through the process. Call today to speak to one of our professionals. We’ll talk about your skillsets, what you’re looking for, and any opportunities that will be a fit for you. In just a few minutes we can start planning your next adventure!