Asking for a pay raise is a tricky thing and you shouldn’t go ahead without a proper way of planning. Being completely prepared can help you a lot. Apart from tracking your accomplishments and contributions, you can plan about things like timing. If there’s a cutback of revenues in the organization, it is not an ideal time to ask for a raise. Wait for everything to settle down and then assess the situation. Once you’ve decided that whether it’s the right time to ask for a raise, here’s how you can negotiate a raise and hold onto your money. They are as follows:
- KNOW YOUR VALUE:
Do a complete research to know your worth, that can also include going for interviews or using resources like getraised.com. if you come to know that you’re underpaid, you can certainly use it to negotiate an increase. If you know that the colleagues are earning more as compared to you, be wise. You wouldn’t want to put people in a negative light or violate a corporate rule about knowing what other people earn. Just present what the field pays and why you believe that the performance of yours is at the top.
- KNOW THE NUMBER:
Once your research is done, calculate in general what you think is a good amount of money to ask for. Keep that number in your mind while asking for a raise.
- SCHEDULE A MEETING:
Search for a time that is ideal for you and your boss. Give the boss a head’s up or indication that you want to talk to your boss about the growth of your career, so that you a lot of time.
- PRACTICE SALARY NEGOTIATIONS:
This is a bit of awkward and difficult conversation. Try practising this with a friend or someone close and who can be a tough but to crack.
- START ON A POSITIVE NOTE:
You can start off the conversation like, I absolutely like working here and the challenging projects makes me to work harder. I believe that my roles and responsibilities as well as contributions towards the organization has gone up. I would like to discuss the possibilities of a raise of my salary. Or you can go for something like, I would like to discuss about my career and how I can do the best work from my side.
- TELL THEM YOU KNOW THAT THE COMPANY ISN’T HANDING OUT RAISES:
Make a clear point of why you should be an exception to the policy. This will certainly require to focus on the results you have actually achieved for the organization.
- STATE YOUR CASE AND THEN PAUSE:
Listen to the manager and what he says. Give your best and everything as in why you definitely deserve a raise. Make your point based on your own research and also the results of your own work.
- BE SPECIFIC:
Give the boss the range of raise you require and also elaborate why.
- BRING YOUR PERSONAL KUDOS FILE:
Make sure you bring a list of all your achievements and focus specially on the areas of achievements that are very important to your manager.
- DON’T BE AGGRESIVE:
Do not try to threaten to leave if you don’t get a raise. Be well prepared and well mannered.
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