Have you been putting in extra hours to help meet company goals? Have you been taking up more responsibilities since you started out? Have your company been benefiting from your contribution? If you have done any of the above, then it may be time to ask for a pay raise.
More often than not, people feel uncomfortable bringing this up with their bosses or supervisors. But there are a few ways that can make it easier for you to negotiate a pay raise with your boss.
Conduct Your Research On The Market Salaries And Make Salary Comparison
One way to be able to make your case strong is by knowing your worth and by knowing how much you want to ask for. Your boss will appreciate that you have done the necessary preparations.
Make A List Of Your Contributions And Achievements
If you want to ask for a higher salary, you would need to prove your worth. List down all the contributions that you have done for the company. If possible, show your boss how much you have saved the company from spending or how much you have increased company sales due to your efficiency.
Propose A List Of Accomplishments Your New Negotiated Salary Will Allow You To Do
List down what you can achieve in the next 6 to 12 months. Show your boss what problems you would be able to solve and what contributions you can further make. Be prepared to explain potential accomplishments that you can provide.
Take Negotiating Benefits And Perks Into Consideration
Sometimes, a raise may not always necessarily be in monetary form. Consider negotiating the benefits that you receive from the company. You can consider talking about more vacations, flexible hours, a more prestigious title, or even for the company to allow you to participate in professional conferences.
Timing Is Important
Negotiating for a raise is a slightly sensitive topic so timing is very important. You would want to do it after you have successfully closed a deal or completed a project or even after you have taken more responsibilities. You want your boss to notice your results and remember you as an asset. Thus, waiting for the right moment is equally important.
So what if your boss says ‘no’? Try to find out if this is temporary and if there’s a possibility of a pay raise in the future. You can also try to negotiate for a better job title as the change in job description can help your chances to negotiate for better pay in the future. Find out what it will take for you to get a pay raise, and then do it. However, if your boss still continuously says ‘no’, and you have continuously been performing well, then perhaps it’s time for you to do some serious thinking. Because who wants to work for a boss that doesn’t know how to appreciate, right?