Getting a raise can feel like an impossible task, especially if you’re unsure how to do it. Asking for more money is never easy, and the fear of being turned down can be intimidating. But it doesn’t have to be! When asking for a raise, come prepared with these 5 things in mind.
Do Your Research
Before you ask your boss for a raise, it’s important to do some research on salaries in your field and geographic area. This will give you an idea of what constitutes fair pay so that you can make an informed request. You should also research the company’s financials to see if it has been doing well or struggling recently; this could influence whether they can accept your request. Additionally, researching any recent raises within the company may provide insight into what type of salary increase you may get.
Put Together A List Of Accomplishments
Before speaking with your boss, write down your accomplishments over the past year or two—this will help convince them that you deserve a raise. Make sure to include examples of going above and beyond normal expectations. Include any projects with positive outcomes or additional responsibility that was taken on without additional compensation. This list will show your boss how much value you bring to their business and can help reinforce why you should get a raise.
Be Prepared For Questions
Your boss will likely ask questions about why they should give you a raise. Therefore you must be prepared with answers ahead of time. Have examples ready about how your work has benefited the company. Come prepared to discuss how the additional responsibilities you have taken on have helped make their job easier or more efficient. Be sure that all of these arguments are backed up by facts or evidence so that they can’t challenge them as easily during negotiations.
Know How Much To Ask For
Prepare an appropriate figure for what kind of raise you would like to receive from your boss. Be realistic but don’t be afraid to aim high – sometimes, the worst thing they can say is no! Also, it may not always be possible for them to meet your exact number. Having a range in mind instead (e.g., anywhere from $500-1000) could help facilitate negotiations if necessary.
Have An Alternative In Mind
If asking for a raise does not work out, it may be beneficial to have alternative options. For example, additional vacation days or flexible hours/work-from-home opportunities. Knowing what other alternatives might help. Your employer can help ensure that everyone feels satisfied with the request’s outcome regardless of whether or not they agree on salary increases at this time.
Prepare For Rejection
Even after extensive research, coming up with thoughtful arguments, and evidence of accomplishments, you might not get your raise. So, prepare yourself mentally in case this happens so that it won’t be too much of a shock if they reject it outright.
Asking for a raise is always a challenging conversation to have. However, gathering evidence beforehand and coming prepared with facts about why you deserve one can significantly increase the chances of success. Bringing concrete data, such as other salaries in similar positions and accomplishments, can help demonstrate why you deserve a raise. Rejection is always possible, so be prepared to hear no. Good luck!