A significant percentage of employees feel that they’re underpaid, but not many of them can gather the courage to ask their bosses for a pay raise. The main reason for not asking for what you think you deserve is not knowing how to go about it. If you’re planning to ask your boss for a pay raise, we’re pretty sure you must be feeling highly anxious and scared. And it’s okay.
We’ve listed some of the best tips that will teach you how to ask your boss for a pay raise. These tips are sure to improve your chances of actually convincing your boss to give you a raise! Let’s see how to go about it:
Choose the Right Time
When you ask your boss to give you a raise is one of the most critical factors in determining whether you’ll get it or not. You shouldn’t touch the topic of a pay raise if your boss seems to be in a foul mood or stressed out about the timelines of a project closing in. The chances that they’ll straightaway reject your request are pretty high in such cases. The best time to ask your boss to raise your pay is when you’ve achieved something notable, and your boss seems to be very happy about it or when the management has praised your boss himself for something they did. The better your boss’ mood, the better your chances that your boss will consider your request.
Understand the Pay Raise Cycles First
Before you ask your boss for a raise, you first need to familiarize yourself with the pay raise cycles of the company. Let’s say the policy says that all employees will receive a pay raise once a year; your boss may not be able to entertain your request to give you a raise in the middle of the cycle in this case. However, if the company provides pay raises twice a year, you can ask for a raise in between. Your boss can’t possibly go against the company policy, so it’s best to first do your homework.
Present Proofs of Your Achievements
One of the best ways to ask your boss for a pay raise is to present your achievements with proof. Make a presentation and highlight everything that you’ve achieved. Don’t just say, “I’ve contributed to the execution and completion of many projects.” Instead, quote the projects and the exact tasks that you overlooked. Don’t forget to highlight any extra responsibilities you took care of other than what you were hired to do. The better you present yourself and your achievements, the more likely you are to get a raise.
Analyze the Market Ranges for Your Job
Another important thing that you must do before asking your boss for a raise is to survey the market and see if you’re being paid a market-competitive salary. In case you are, your boss may not be able to give you a raise. However, if your salary is lower than the market average, you can make up a strong case before your boss for a pay raise, provided that your boss is satisfied with your performance.
Remember that asking for a raise is normal. There’s absolutely nothing to feel shy about. If you’re confident that your performance is better than your colleagues and you’re crossing the bar of expectations, you shouldn’t shy away from asking for a raise from your boss. Just make sure you’re doing it the right way.