HOW TO ASK FOR A RAISE FROM YOUR BOSS

HOW TO ASK FOR A RAISE FROM YOUR BOSS – OUR 6 KEY TIPS

We understand that asking for a raise from your boss can be a daunting experience. Whether you’re struggling with what to say, or how and when to say it, asking for a raise is a normal part of any job. That’s why we’ve developed the following guidelines to help you build the confidence you need to ask the all-important questions.

1. KNOW THAT IT’S NORMAL TO ASK

A raise is your reward for levelling up.

It is recognition that you’re now contributing at a higher level than you were when your salary was last set. As you’ve grown and developed, your value to the company has increased. A raise is a way to get paid what you’re worth.

It is also important to remember that your boss is probably used to dealing with salaries. Don’t worry about putting them on the spot or damaging your relationship. As long as you’re professional and prepared, using Platinum’s tips, you have nothing to worry about!

Finally, asking for a raise is not a sign of weakness. It’s a sign that you’re confident in your abilities and that you’re willing to advocate for yourself.

2. DOCUMENT YOUR ACCOMPLISHMENTS AND CONTRIBUTIONS

Feel ready to ask for a raise? Before you do, it’s important to assess your own performance. Do you think you really deserve one?

Firstly, think about your accomplishments and how they have positively impacted the company. A data-led approach is great, showing how many leads you’ve generated, how much extra revenue you’ve brought in, or how much you’ve saved the company.

If you can quantify your accomplishments, even better. This will give you a clear picture of your impact on the company and make your case for a raise even stronger.

Secondly, your accomplishments are not the only factor to consider. You also need to think about your contributions to the company culture and your overall work ethic.

Are you a team player?

Are you willing to go the extra mile?

Do you meet deadlines?

If you can answer these questions honestly, then you can successfully assess your own performance and in turn, build the confidence to ask your boss for a raise.

3. FREE SALARY REPORTS AND MORE

What is the salary landscape for the role you’re in? Do your research and know your worth!

Spend time talking to your peers, recruiters, and professional organisations and even research free salary reports to find out what other people in your role with your experience level are making. You can also check your company’s policies and procedures to see if there are any guidelines or protocols for requesting a raise.

Once you know where you stand, you can start to think about how much of a raise you deserve. This is a tricky question, but there are a few things to consider.

The average pay raise is 3%. A good pay raise ranges from 4.5% to 5%, and anything more than that is considered exceptional. So, with this in mind, along with your assessed performance and salary landscape research, you can decide on a pay increase that suits both you and your boss.

4. TIMING IS EVERYTHING

Choosing the right time and place for the conversation is key. Your boss is only human, and they’re more likely to be receptive to your request if they’re not distracted, in a rush or generally having a bad day. Here are our timing tips:

Avoid asking for a raise during a busy time or when your boss is under a lot of stress – No one wants to be bombarded with requests when they’re already feeling overwhelmed.

Schedule a meeting in advance – Give your boss time to prepare for the conversation and to think about your request.

Choose a private location – Prevent being overheard or interrupted by other people.

5. BE CONFIDENT WHEN ASKING FOR A RAISE

Although we’ve said it before, asking for a raise can be an uncomfortable experience. But, now you’ve got the goods. You’ve done your research, you know your worth, and you’re ready to make your case.

It is important to stay confident, positive and enthusiastic. This way, you can set the tone for the meeting, which might help alleviate some of the awkwardness.

If you’re given the raise, celebrate your win! But, don’t just sit back and relax. Use this as an opportunity to work harder and show your boss that you deserve the raise.

6. PREPARE FOR REJECTION

If your boss doesn’t give you a firm yes, don’t be discouraged. Many managers won’t say yes on the spot and that’s okay! It just means that they need some time to consider your request.

But, if their response is ‘maybe’, find out what the next steps are. When will they have an answer for you? What factors will they consider? Prepare yourself for the next conversation.

If the answer is no, don’t be afraid to ask why. This is a perfect opportunity to ask for feedback and learn what you need to do to earn a raise in the future. Here are some tips on handling rejection:

Remain professional and respectful – Leave the conversation on a positive note and don’t take it personally.

Be positive and proactive – Ask your boss what you can do to earn a raise in the future.

Stay patient and don’t give up – It may take some time to get the raise you deserve, keep working hard.

If you’re looking for further career advice, our expert consultants can help.