How To Ask For A Raise
Approaching your boss about a pay rise can be pretty terrifying but it is also a powerful and necessary part of making sure you know your worth and that you get the most out of your role and skills. As a society, we often don’t feel comfortable chatting about money or achievements and we hate awkward conversations – which often means things get left unsaid! Asking for a raise is incredibly empowering and can change your career as well as your life. Think about how much earlier you can purchase your first home with some extra $$$!
So here are our top tips so you can confidently ask for a raise.
1. Know your worth
Before you can walk in and ask for a raise, you need to know how much you want, how much you deserve and how much is realistic. Make sure you spend time doing some research. A great way to go about research is to search job-seeking sites for similar roles and responsibilities, and see how much they are offering. Remember to take into account your location and experience. Once you have all of this information, come up with a goal figure as well as another amount you would be happy with.
2. Keep track of your accomplishments
This is something you should do throughout your career, keep a note in your phone or document on your computer. In the hustle and bustle of life, it’s easy to forget all of the things you do each day. Keep track of what you do to impact the business positively – whether that’s through finances, strategy or processes. Make sure to give real-world examples of the changes you’ve implemented and how it made a difference.
3. Consider the timing
Is there a time of year when it would be more suitable to ask for a raise? Do you have a yearly review? Or maybe even just a private meeting with your boss coming up? Try to make it as easy as possible for your boss to consider giving you the raise. Waiting until a week after pay reviews, or the middle of the busiest week of the year might not be the right time. If you can time it right, it can make a difference. But in saying that, don’t just wait forever for the right time and never get it done. The timing may not ever be perfect.
4. Be prepared
The key to confidence? Being prepared. If you walk into the meeting aware of what you want to say and how you’ll respond to tough questions then you won’t feel nervous or put on the spot. Spend some time thinking about the questions your employers will ask and how you’ll answer them. Also, have some points or questions to raise yourself.
5. Be professional
Money can be an awkward topic and when it comes to discussing your worth it can get personal. Make sure no matter what angle the conversation takes, it doesn’t get heated. Keep your tone polite and professional and use logic instead of emotion to answer the prickly questions that might come up. Remember that you want to come across as valuable, focus on proving your worth rather than bringing up any negative feelings you might have.
6. Try a power stance
If you need some extra confidence to show your boss you mean business then why not try a power stance in a mirror before you go in. This sounds a little silly, but your body language can really make an impact on how you come across. Try not to let your nerves come through by fiddling with anything. Stay calm and still, and maintain eye contact.
TIP: Once you’ve got your raise, resist the urge to increase your spending and add more expenses. Use the extra cash to reach your goals further by automatically transferring it to a savings account as soon as you’re paid.
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