5 Steps To Building A Case For A Raise
Regardless whether or not your employer gives out annual raises, there may come a time when your pay just doesn't add up. Here's what you do...
Table of Contents
- Research the industry average salary for your position
- Clearly communicate your achievements to your boss
- Demonstrate your competence
- Don’t be afraid of feedback
- Remember timing is everything
As an employee who has added value to the business in which you work, there are times when you are convinced that you deserve more in terms of salary or promotion. You have added much value to the establishment and believe that your contributions deserve some additional monetary recognition. Here are 5 clear cut steps to building a case for a raise.
1. Research the industry average salary for your position
Before going to your employer to ask for a raise, you must have done your homework of researching the average salary earned by the employees who are currently working in the same capacity as you now. Utilize all the available information sources you can to keep yourself abreast of the salary trends in your industry. This will equip you with useful information when you eventually sit down to discuss the pay raise with your boss. You should be certain about the fact that your boss will want you to justify why you deserve a pay raise. You should have a figure in mind when deliberating on a raise. It will be wise to talk in terms of monetary amount or percentage. Equipping yourself with the information about how much is being paid to your colleagues in the industry will give you an edge on the negotiation table.
Tips
- A really good site for real, unfiltered reviews and salary averages by company is Indeed.com. You can hear directly from former and current employees about the job and salary information.
- For a more comprehensive list of salaries per industry/job type you can visit the U.S. Bureau of Labor Statistics.
2. Clearly communicate your achievements to your boss
Your boss is possibly interested in hearing you speak about your achievements at the company. You have the amazing task of stating in clear terms how you have helped the company achieve its goals and objectives. Explain to your boss politely how you have been instrumental in getting the company to its current state.
In a nutshell, remind them of the value you have brought on board, and how it has helped the company move forward. Never fail to remind your manager of your accomplishments.
Tips
- Take time to write out everything you have accomplished over the years. If you have information regarding the impact of your contributions that may be helpful. For instance, you can speak on how you specifically impacted the bottom line, or helped a person or project team recover from a difficult situation, etc.
- Whatever you decide to use to demonstrate your value, make sure that you are honest and able to provide evidence if requested.
3. Demonstrate your competence
This comes even before you walk right into the office to discuss your pay raise with your boss. Let your boss see the reasons why you deserve a raise. Handling your day to day tasks in the business premises gracefully will give your boss all sense of duty to pay an attentive ear to you when you finally meet to discuss your pay raise. How well you execute tasks, how punctual you are to work, and how effectively you communicate to your colleagues and team will help create an impression on your boss that you truly deserve to get a pay raise.
Tips
- Complete projects early and make sure you get the job done right
- Maintain your reputation beyond your department as well, because word always travels back
4. Don’t be afraid of feedback
Feedbacks provide an assessment of your overall performance in the company where you work. It helps you realize the other necessary areas in which you need to improve as an employee. Constructive criticisms from your boss and colleagues will help you become even more valuable to your organization. This is because you are provided with information on the necessary areas you still need to improve on. Asking for feedback will show your employer that you are proactive and capable of handling your role well.
Tips
- Not only should you be comfortable with feedback, but encourage it as well! Set time up with your boss at the end of the week and ask where and what he or she feels you can improve. This will show them that you care about your development. And regardless of whether or not further development is needed, you can be trusted to course correct in the event you need to make improvements
- Don't resist when receiving feedback from your boss. Greet their words with a smile and be sure that you are taking notes. This will demonstrate your coachability and garner a huge amount of respect as well
5. Remember timing is everything
Know the appropriate time to discuss a pay raise with your boss. You should ideally meet to discuss with your boss in private. You should find out when your boss is free, and schedule a meeting with them. Meeting with your boss physically to discuss a pay raise allows you to get you're their reaction is about the request you are making. Also, familiarize yourself with the salary review policy of your organization. Know how often they review staff salaries. Is it every 6 months, annually, or biennially? Remember to always choose the right time for salary negotiation with your boss and avoid giving an ultimatum to the company to meet your requests.
Tips
- Be observant, learn what days and times are seemingly best to discuss money with your leader. Maybe it's the end of the week when there is finally a chance to kickback and relax. It's your job to read the situation and act accordingly
- If business is slow or sales goals were just missed, it's probably not a good time to ask for more money. When you finally find the right time to pose the question, be professional and polite but make sure they know you mean business. No one will respect your time if you don't.
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