July 8, 2022
Perhaps you’ve briefly discussed your salary hike and never found the perfect opportunity again. Maybe you are not sure how exactly you can ask for a raise since then. You have been working for some time and haven’t had a hike yet. Suppose you have struggled to find a proper way to express what you want; when it comes to getting a raise at work, you will need to convince your Managers why you deserve to increase your income. Take the initiative and write a formal letter or an email. Speak with conviction about why you are an asset to your time and deserve more pay. Let’s look at a few things you need to keep in mind before attempting to discuss it with your current employer.
1) Find the most appropriate timing: What’s as crucial as the discussion of your job raise is selecting the right time to ask for a raise. A great idea would be to find out when your company’s fiscal budget planning takes place; this way, you are on the safe side and aren’t for something inappropriate. Another great time to ask for a pay raise would be after the successful completion of a big project. Doing so would be a great chance as you’ve recently proved that you can be a valuable asset. Before you initiate the discussion about your salary, do ask verbally and confirm if it’s a good time to talk.
2) Know your worth: Websites like Glassdoor & PayScale are great tools for you to find out how much other people with your job designation and qualifications are getting paid. Before you plan how much to ask for, it’s always healthy to have a scale set in your mind. If you’re still looking for a raise that exceeds the industry’s number, find the average between your need and the industry standard.
3) Understand your company’s environment: Perhaps you are worth more than your current salary; however, it’s indicative of you to understand the company and the industry’s situation. Find out if other firms are hot-hiring or are going through multiple job lay-offs. On top of that, understand what is going on in your current company as well. Have they recently raised funding and had good sales in the last quarter? The state of the macro environment overrules the considerations you may have about how much you should be paid.
5) Incorporate visual aids: Gather up all of your evidence and create a sheet. This sheet not only just summarizes all of your accomplishments. Your sheet helps explain why you should get the raise using clear, concrete examples of what you did and how it benefits the company. Rank your traits, accomplishments, and growth with the star system. Then, through visuals, explain how you have helped yourself, your team, and the company grow.
6) Practice your pitch: Practice your pitch so that you know all your points. Make sure you know your every micro detail, focus on your strengths, and rehearse with a friend to make sure you sound confident. Prepare your justification with solid, concise points. Figure out what questions might be asked of you and be ready for every answer. Figure out all the possible ways your discussion can take place and be ready for everything.
7) Be confident and assertive: “If you don’t believe in yourself, no one will do it for you” ~ Kobe Bryant. Self-conviction always breeds success; believe everything you have to say. Know that you can and do deserve a hike in pay. Be very forward, and don’t circle around points. Be sure to let them know that you’re asking for a pay raise because you deserve it, not just because you want it. Always be prepared for every situation.
KAPITAL has been placing several candidates for a better part of the decade; we understand all the reasons why a company finds it difficult to increase an employee’s salary, as well as why candidates leave firms for a better deal. We always strive to keep a candidate’s desires and needs in mind while placing them.
