Have you been thinking about getting a raise and you have been on the fence about asking for one. If you think you deserve a raise and you are qualified for a raise then I promise you asking for it is the biggest favor you will ever do for yourself. The worst thing that could happen is that they say no. On this post I go into the details of how to ask for a raise.
A few years ago during a performance evaluation I was told that I was going to get a promotion. Of course I was super excited but the increase in workload was not at par with the raise. I cringed and asked my manager to see if it could go higher. Guess what? It did!!! You must know your value and no one wants to lose a good employee because it’s usually more expensive to replace a good worker.
It doesn’t mean that it will always work out that way. I’ve seen people try to pull the ‘give me a raise or promotion or I’ll leave strategy’ and it didn’t work. You must be approaching this not from a place of pride but from a place of building your brand. Make sure that your brand deserves what you are asking for.
Be aware too that depending on how long you have stayed at a company your compensation may have become stale. Ask around if you think you should be making more. You can apply for a job and if a recruiter responds ask what the salary range is. Ask your friends that are in the field what their range is. Do your research!
IMPORTANT QUESTIONS TO CONSIDER
You must first assess the situation and ask yourself these questions:
- Am I a good worker?
- Do you need constant supervision. Can your manager depend on you ALL the time or do you need constant reminders and guidance?
- Have you taken on solo projects and completed them?
- Did the past performance reviews go well?
- Has your workload increased?
- Have you taken on more responsibility?
- Is there something high profile that you have overseen that no one can dispute your achievement of?
- Are you asking for a raise for the wrong reasons?
Once you have asked yourself these questions it’s time to set up a meeting with your manager. Make sure that your manager is aware that you want to discuss your performance and compensation. It should not be a blind side. Prepare your materials and be ready to advocate for yourself. Remember that whatever you bring to that meeting will determine how your manager responses.
The steps below are a great guide for how to ask for a raise:
1. Point out valid reasons
Clearly point out the reasons why you think your position should earn higher. The reasons should be valid and legitimate. It is best to avoid saying that changes have made the job difficult and hence the request for a raise. You are expected to be adoptive to change. In most job requirements companies ask that candidates be flexible.
2. Provide a comprehensive market analysis
Be ready with comparisons in the market sighting that to replace you they would probably have to pay more. This can be backed up by analysis from various search companies like Glassdoor, LinkedIn and Indeed. Often due to inflation and changes in the job market your salary may be lower than it should be. You should always be paid at the fair market value.
3. Define the extra value you add
Clearly define the extra value you are bringing and how your job description has become stale. If you have worked for a company for a long time a market analysis of your position may be exactly what you need. Job descriptions can sometimes become outdated. If over time the role that you have in the company continues to grow and take on more responsibility then you definitely deserve a raise.
4. Don’t be over eager
Don’t try to sell yourself too much trust me your manager knows your work ethic and value. Be calm and be concise. Don’t ramble on and appear desperate. A raise is a recognition of our effort because our salaries don’t match the work that we perform. Do not think of the raise as a favor or a gift. Keep the discussion focused on the job itself. It is best to avoid bringing up things like how expensive life has become. The company is not responsible for how you manage your personal life.
5. Avoid comparing yourself to your coworkers
Don’t compare yourself to other employees. This is one of the worst mistakes you can make. Managers know what each of their employees does and their performance levels. A manager always has more information so its best to avoid comparisons. Focus on your work accomplishments.
If the raise doesn’t come it may be time to reassess why you work there. It may be that you need to change jobs that pays you competitively. Also ensure that your resume is updated before scheduling the meeting. As a rule of thumb always ensure your LinkedIn profile is always up to date.
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