Do you want to make more money? Do you deserve a raise? Asking for a raise can be intimidating, even if you deserve it. With the current economy, getting a raise isn’t a guarantee. This is one of the toughest job related questions you will ever have to ask. It’s scary to approach the big boss. Typically there is no harm in asking. The best case scenario is that you’ll get what you ask for. The worst case is that your boss says no.
It’s super important to have a good game plan before you ask for a raise. Here are four simple steps to help you build your raise request strategy:
Make A Case – Ask yourself, do you deserve a raise? This is the big question. It’s the one you will have to prove to your boss. You’ll need to show proof of successful projects, big sales, valuable experience, recognizable awards, earned certifications, etc. Show your performance and how it goes beyond what is expected. Show that you are unique and that you are NOT replaceable. It’s good to show how your hard work has boosted the company’s performance. Be strategic. Toot your own horn, but remain humble. You have to show your boss why you deserve the raise.
Determine The Going Rate – When you ask for a raise, you need to have a specific number in mind. Find out the going rate. You can figure this out on various websites like BLS, Salary.com, or Payscale.com. You can also ask your network, your co-workers, or your professional association. It’s important to know how much you’re worth. When you ask for a raise, ask for a specific amount.
Know When To Ask For A Raise – Timing is everything. You need to have a strategy for this. You can do it after you successfully finish a big project, during your annual review, when asking for feedback, or when you’re boss is having a really positive day. It takes some time to prove yourself before you ask for a raise. Determine if your boss would prefer to have your request in an email or in person. When you ask for a raise, be sure to make a commitment to the company and dial in your responsibilities.
Have A Backup Plan – If you’re boss says no, you need to know what you are going to do. The easiest solution is to shrug it off and go back to work. It may also be your opportunity to reassess what you’re doing and where you’re doing it. If you truly believe you deserve a raise and your company won’t give you one, it may be time to consider finding a new employer who can pay you what you are worth.
When you ask for a raise, you have to sell it. Do your research. Make a case for it. Choose your timing. Accept or reassess. It’s a simple process that is still one of the toughest things you’ll have to ask your boss for. Whatever happens be humble, gracious, and confident. Stand up for what you are worth.