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The Best Way to Ask for a Raise

September 4, 2017 in Careers

Salary increase - just ahead

One thing that brings anxiety and fear to employees everywhere is the thought of sitting down with the boss and asking for a raise. Due to this, many people do nothing and stay at the same salary or look for another job that pays more. Asking for a raise doesn’t guarantee that you will get one but, hesitating to ask will ensure that you don’t.

But, how do you ask for a raise? Here are five strategies that will help you in preparing for these conversations.

 Do your research

Before approaching your boss, conduct a background research to determine your market value. It will help you figure out if you are earning less than you should. Get salary information from renowned sources such as PayScale, Glassdoor, and Salary.com, to find out the right market rate for your role or the intended one.

Researchers at Columbia Business School say that it is best to give a precise number instead of a round number since it makes the person seem informed. Refrain from suggesting a number that is completely unrealistic.

 Focus on why you deserve it

Ask yourself whether you genuinely deserve a raise before convincing your boss. Everyone would like to make more money for their personal needs. But your employer will give raises based on your performance rather than your needs. So stick to discussing your performance and impact.

 Practise your pitch and anticipate questions

It is always better to rehearse in advance than going impassive while having a conversation with your boss. Consider every possible response that you will get to each of your requests. Then, think of the ways you will address them. After the role-playing, the actual conversation will be much easier since you can anticipate their responses and will be able to address them better.

 Share your accomplishments

Communicate your accomplishments to your boss. Start with the most recent ones and work your way backward. Be specific about your achievements. For instance, mention how you achieved your target and how it had a positive impact on the company’s success. Include statistics and measurable data wherever possible. You will make it easier for your boss to notice that you deserve a better title and salary.

 Be prepared to hear no

Don’t be discouraged when your boss turns you down. If he is rejecting your request because of your performance, decide if it’s valid. Think of the changes you could make to turn things around with the help of their suggestions and advice. If a raise is not going to happen right now, ask for things beyond salary, i.e., bonus, incentives or professional development opportunities.

 Conclusion

If you believe in your abilities and knowledge, you must know that you did the right thing by inquiring. At least, you will learn to advocate for yourself and appreciate your worth. So, keep in mind the above points while negotiating to get one step closer to getting a raise.

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