Asking for a raise can be one of the most stress-inducing, awkward processes you go through at work. But it’s a necessary part of being in the workforce. Because being paid what you deserve is crucial to feel valued at work and feel like your time is well spent.
Not negotiating a raise can seem like the easy way out to avoid an awkward conversation with your boss about your worth to the company. However, by doing that, you’re doing a great disservice to yourself by not taking your future into your own hands.
Steps to success in asking for a raise
What is the best way to ask for a salary increase? Start by creating a personal result tally or proof points. Here are samples to draw from:
- Saved the department money, reduced time on a process, brought in a new customer.
- Delivered a set of 26 mission-critical applications 7 months sooner than expected.
- Led activity that increased employee engagement scores by 19% in just four days.
- Shaved 375% off of allocated project time by streamlining training efforts.
- Saved $10K a year by consolidating telecommunication providers in just 11 weeks.
- Presented research findings to the executive team, resulting in work on six new projects.
- In just 5 days, scanned 340 surveys, ensuring student records were accurate and current.
- Built a 90-day success plan for incoming interns, which saved the company 60 hours of manpower and increased retention by 38%.
- Mastered training competency in Microsoft Excel, PowerPoint and Outlook six times sooner than all other trainees.
- Eliminate $60K of student loan is just 24 MONTHS.
Meet with your boss at least once a month before asking for a raise. Agree upon your demonstrated value.
Have faith in yourself—not the system—and ask for the raise. Be prepared to present your plans for sharpening the skills that will make you even more productive.
Say, “I’d like to talk with you about my contributions and your plan for increasing my pay.”
Be resilient. If your boss plays the “not now” card, ask for another evaluation in three months and hold him or her to it by scheduling the meeting right away. Agree on a bulleted list of accomplishments he or she needs to see from you before a raise is granted.
You waited. They’re ready to talk. Now what do you do?
How to negotiate a raise based on a recommended increase
Never speak about the dollar amount you want until a figure is offered by your company. In other words, make them go first! When you hear the figure, repeat the figure (or the top of the range) using a thoughtful tone of voice. Count to 15 silently. Then respond with the truth.
“Sounds great.”
“Sounds acceptable.”
“Sounds disappointing.”
They offer a 6% increase.
“I want the raise, and I’m sure you want to offer me an increase that’s fair and will keep me motivated. My contributions this year alone garner an increase of 10 to 12%, what can you do within that range?”
If they say, that’s the highest we can go, then you can say, “Let’s go with $6%.”
However, get them to agree to your next raise BEFORE you leave the meeting. Say, “I’m interested in the future. If the increases here are a direct reflection of my contributions, let’s schedule a review for an increase of $10,000 in six months.
If they waiver say, “If I’ve not reached the goals we agree on, it won’t cost a thing. If I have reached them, you’ve benefited. Either way, I’ll be motivated.”
When negotiating for a new role, only talk about salary once you have an offer:
- I’m open to what you have budgeted for the role.
- I’m sure we can agree on the right salary once we agree I’m the right fit. My preference is to table that until you know you want me.
- I only ask that I am fairly compensated for the responsibilities I’d have here. Let’s keep talking to see if I’m the one.
- If salary is a concern for you, let me put your mind at ease. My biggest driver is flexibility.
5 mistakes you’re making when you ask for a salary increase
Here are the top 5 most common mistakes professionals make when negotiating a raise.
Mistake #1: Not asking for a raise in the first place.
Obvious mistake? Absolutely. However, a 2018 survey by PayScale reported that nearly two-thirds of the 160,000 people questioned have never asked for a raise.
What’s more, if they’ve never asked for a raise, they’ve likely never received one by the goodwill of their employer alone.
Although it can seem awkward—especially if you’re shy, reserved, or feel uncomfortable talking about money—you must get in the habit of asking for a raise. If you never ask, you run the risk of stagnating in your career, feeling underappreciated, or falling into a risky habit of doing the bare minimum because you’re dissatisfied with your salary—which will likely lead to performance review issues when you finally drum up the courage to ask for a raise.
Mistake #2: Relying on your employer to make the first move.
You may be waiting for your employer to set the meeting or announce that long-awaited annual review so you can approach the subject of your raise.
However, it’s vital that you know this: you shouldn’t wait for your employer to offer up an annual review, or a one-on-one meeting where you’ll get the opportunity to ask for a raise. If you’ve been at your company for at least a year, it is reasonable to ask for a performance review so you can discuss a pay raise.
Mistake #3: Asking for a raise too soon.
It can be tempting to ask for a raise the second you take on extra work for a position your employer has been dragging their feet to fill. You’re valid in feeling that you should be compensated for any extra work you take on.
However, it can be a difficult path to forge if you have yet to prove that your contributions have helped meet department goals or have been beneficial to the company.
That’s why it’s important to keep track of all the things you’re doing that are helping save the company money, optimize time spent on projects, win over new clients, or other essential metrics unique to your position.
By documenting your contributions, you’re creating a list of evidence-based reasons why you deserve a raise. Prove your case, and you’re more likely to get the raise.
Typically, employees wait a year for an annual review to ask for a raise. You don’t necessarily have to follow this rule if your position and workload have changed dramatically from what you were initially hired to do. Just keep in mind that you’ll need documentation to prove to your boss why a raise (or even promotion) is justified.
Mistake #4: Not believing that you deserve a raise.
Confidence is an important factor of success in any part of your life—be it personal or professional. Knowing and believing that you’ve put in a lot of hard work will help give you a subconscious leg up when it’s time to ask.
This is yet another reason you should create a list of accomplishments you’ve made while in this position. Effective work and contributions to successful projects can often be overshadowed by the nonstop projects and unavoidable doldrums of everyday work life.
If you find yourself lacking in confidence, make a list of all your accomplishments, assists you’ve made, projects you’ve led successfully, and so forth. It will help you build confidence to see all the great work you’re doing on paper and prepare you to ask for the raise you deserve.
Mistake #5: Not having a smaller request ready.
If you ask for your raise and are told no, all hope is not lost. Be prepared with smaller requests that will be easier for your boss to say yes to.
That’s because although your boss may not be in a position to give you a raise right now, you may be able to turn that no into a successful request for more remote days, or even an extra vacation day or two per year.
Looking for more personalized help navigating common career challenges? Request One-on-One Executive Leadership Coaching from Melissa.
