June 12, 2018

5 Secrets To Getting The Raise You Deserve

What would make your job better? More money? More vacation days? If you truly feel you deserve a raise or a bonus, why not just ask for one?

Yes, asking for a raise is a scary proposition. It’s intimidating to ask your boss for a raise, but if you deserve it and you add value to the company, then there’s no harm in asking for one.

Employee getting a Pay Raise Image

Here are a few secrets to getting the raise you deserve:

  1. Research Salaries – There are several websites like Salary.com or BLS.gov that provide salary information. Take a look at the salaries of similar job titles in your geographic area. This will help you determine how much you are worth.
  2. Document Your Case – Keep a record of your hours, accomplishments, and successes – also a good idea for keeping your resume up-to-date! Note quantifiable data that proves why you rock. This is the proof you’ll need to show that you add value to the company. Bear in mind that you actually have to have done something at the company – you won’t get a raise after only a few weeks.
  3. Time Your Request Appropriately – Take stock of your company’s financial health. Is your company doing well? Is the stock price going up? Did they just seal a big deal? When the company is thriving, this is the best time to ask for a raise. You’ll also want to take note of your boss’s routine and schedule. Make sure she isn’t super busy when you pop the question.
  4. Schedule A Meeting – If the timing is right, schedule a meeting with your boss. Make the meeting official. You don’t want to ask for a raise quickly in the elevator. This is the time when you will make your case for the raise. Be confident, stay positive, and sell yourself.
  5. Make A Realistic Request – If you’re making $20 per hour, don’t ask to make $50 an hour. It’s unrealistic. When you request a raise, make it a reasonable number. Be specific and back it up with facts and research. You’ll need to be able to justify the amount. Keep it professional and state facts, not opinions or emotions. Be willing to negotiate.

Getting a raise may not result in instant gratification. Your boss may hear your request and want to consider it overnight or for a week. Leave your boss to contemplate your raise proposal.

Ideally, you’ll get the raise that you requested. Often times your boss may offer a 7% raise when you asked for 10%. If this is reasonable, take it and be grateful that you are getting the raise you deserve. Whatever happens, keep up the hard work after you get the raise!

If you don’t get any raise, maybe it’s time to reconsider your career path or even start looking for a new job.

Sign up for our newsletter!