How To Ask For a Raise
Asking for a raise can be nerve-wracking, but it is an important step in advancing your career and ensuring that you are being compensated fairly for your hard work. Here are a few tips to help you prepare for the conversation and make the most of your opportunity to negotiate for a higher salary.
Do your research: Before you even start thinking about asking for a raise, it's important to research the going rates for your position in your industry and location. This will give you a better understanding of what you should be earning, and it will also help you to build a case for why you deserve a raise. There are several websites and resources that you can use to research current pay amounts for your position and industry. Some popular options include:
- Glassdoor: Glassdoor is a website that allows you to search for salaries by job title, company, and location. It also provides information on company reviews, benefits, and interview questions.
- Payscale: Payscale is a website that offers salary information and compensation data for a wide range of industries and positions. You can search for salaries by job title, experience level, and location.
- Bureau of Labor Statistics: The Bureau of Labor Statistics (BLS) is a government agency that provides information on employment and wages for various industries and occupations. You can find data on median wages, average wages, and employment statistics for different positions.
- LinkedIn: LinkedIn is a professional networking site that can help you research salaries for specific jobs in specific companies and locations. You can search for salaries by job title, company, and location.
- Indeed: Indeed is a job search website that allows you to search for salaries by job title, company, and location. You can also research salaries of companies that are hiring for similar positions.
- CareerBuilder: CareerBuilder is a job search website that provides salary information for various industries and job titles.
It's worth noting that you can also research salary by asking in professional networking groups, or reach out to industry experts and recruiters. These sites can provide you with a general idea of the pay range for your position and industry, but keep in mind that salaries can vary greatly depending on factors such as experience, location, and company size.
Make a list of your accomplishments: It's important to come to the conversation prepared with a list of your accomplishments and contributions to the company. This will help you to articulate your value to the company and demonstrate why you deserve a raise. We suggest doing this as you work throughout the year, rather than trying to remember it later on.
Schedule a meeting with your manager: It's best to schedule a meeting with your manager rather than just bringing up the subject out of the blue. This will give you the opportunity to have a thoughtful, productive conversation about your compensation.
Be confident: When asking for a raise, it's important to be confident in your abilities and your value to the company. Remember that you are worth the raise and that you deserve to be compensated fairly for your work.
Be prepared to negotiate: Even if your manager is willing to give you a raise, it may not be as much as you were hoping for. Be prepared to negotiate and come to a compromise that works for both you and the company.
Show gratitude: Show gratitude for the opportunity to discuss this topic and the company's consideration, regardless of the outcome.
Asking for a raise can be intimidating, but by doing your research, coming prepared with a list of accomplishments, scheduling a meeting, being confident, and being prepared to negotiate, you will be in the best position to get the raise you deserve. Remember that asking for a raise is not a one-time event, but a constant effort to improve your skills and market value, so it's important to stay informed and updated with the industry standards.
If your boss denies your request for a raise, it can be disappointing, but it's important to handle the situation professionally. Here are a few tips to help you navigate the conversation:
Listen actively: It's important to listen to your boss's reasons for denying your request and to try to understand their perspective. They may have valid reasons for not being able to grant a raise at this time, and by listening actively, you will be able to better understand the situation.
Ask for feedback: If your boss is giving you specific reasons for why they can't grant a raise, ask for feedback on how you can improve your performance in those areas. This will show that you are willing to work hard to improve and that you are invested in your career at the company.
Discuss a plan for the future: If your boss is unable to grant a raise at this time, ask about what you can do to earn one in the future. Discuss a plan for how you can work together to achieve your goals and get a raise in the future.
Be professional: Remember that even if you are disappointed with the outcome, it's important to remain professional and respectful throughout the conversation.
Reflect and consider your options: After the conversation, take the time to reflect on your options. It may be worth considering if you are happy with your current employer and if there's a long-term growth plan for you, or if it's time to start looking for other opportunities.
It's important to remember that sometimes, the company or the department is going through a tough time financially, or there may be other reasons that can prevent your boss from approving a raise. However, it's also important to remember that it's not a rejection of your skills or worth as an employee, but rather the company's current situation. By approaching the conversation professionally and discussing a plan for the future, you will be able to maintain a positive working relationship and continue to work towards a raise in the future.