How to Ask for a Pay Raise?

What to say when you ask for a pay rise and How to Ask for a Pay Raise?

What to say when you ask for a pay rise?

Few things are as nerve-racking as asking for a pay rise. Asking for more money can be complex, but doing the right research and preparation can make you feel more confident and better set for success.

Then it’s important to set up a meeting with your boss or manager. Ideally, you want to do this privately and in person, but a video call is an option, too. Ask to set up a short meeting to discuss your salary, rather than bringing it up at an unrelated meeting or without notice.

Once you’re ready to have the conversation, try using this script to guide you.

  1. Start with the positives about your role and what you’re proud of
    “Thank you for making the time to meet with me today. As you know I have been working here for [amount of time] and have recently been focusing on [quick summary of what you’ve been doing].

    I have really enjoyed being part of [project or team] and am proud of the role I played in this organisation.”
     
  2. Talk about your achievements
    “Over the past 12 months I have [talk about your achievements that have benefited the organisation].”

    If you are able to include a dollar figure or percentage improvements do that, if you are not able to provide numbers then talk about the perceived benefit – such as how you streamlined a process or improved team morale. Tangible and intangible benefits are what you must bring to the attention of your manager.
     
  3. Get to the point
    “With my achievements over the past 12 months and bearing in mind the benefits I’ve brought to the organisation recently, I’d appreciate it if you would consider a review of my current salary.

    I’ve also had a look at current compensation levels for roles similar to mine in companies of the same size and believe I have a clear view of the industry standard salary.”

    At this point, your manager will likely require time to think over your request and have the idea approved by other stakeholders involved in salary increases. It’s likely the exact dollar value discussion will be revisited in a later conversation, should your request be fulfilled.

After the meeting, you must send an email thanking your manager and include the points you discussed.

If the answer to your request is no, you can ask if there is another way to acknowledge your achievements, such as bonuses, time off in lieu, extra paid leave. If there is no leeway whatsoever, your manager will still have gained an awareness of your value. You can ask them for another discussion in three to six months’ time.

If your manager agrees to a pay rise, ensure you ask for this in writing (email is fine), clarify when the raise will be paid from and suggest that you meet in another year to review your progress and salary again.

How to Ask for a Pay Raise?

Follow These Steps When You Ask for a Raise and You Will Succeed

1. Research an Appropriate Pay Raise

Your goal at this step in asking for a pay raise is to know your employer’s pay practices and the market pay rate for your job.

  • Familiarize yourself with your employer’s pay practices. The best time to ask for a raise is well before your annual review and when the economic atmosphere is what you would consider optimal in the company. Usually, after a commendable achievement, request for a meeting with your boss and discuss the salary review.
  • Research the market pay rates for your job.
  • Read your employee handbook. The handbook may present the process whereby pay raises are granted.
  • Network with other employees in similar jobs in similar industries to determine your salary competitiveness.

2. Prepare For The Discussion

You need to look at your work contributions to determine how you will present the request for a pay raise to your boss.

Maybe it’s smarter to ask your boss what you need to do to qualify for the highest possible pay raises and bonuses in the future if you cannot justify a higher salary now.

Make a list of the goals you have accomplished for the company. Determine how their accomplishment has helped the company.

Make a list of any additional responsibilities you have added to your job. An increase in responsibility, more employees, managed on your team, or special projects are often grounds for an increase if you ask.

Set a pay increase goal, in your mind, that appears to reward the contributions and additional responsibilities you have documented. Use all of your earlier research to make sure that you are asking for a pay raise that is reasonable for your job and performance and justly deserved.

3. Set A Time and Date With An Agenda

Set up a meeting with your immediate manager or supervisor to discuss your compensation. You will not want to ambush your supervisor or blindside her.

Have A Clear Figure in Mind. When asking for a raise, do not just ask for a raise with no clear figure in mind. This leaves the raise to the prerogative of the employer and you may not get a fair amount in the end. Go into the meeting with a workable figure so that you have a starting point for negotiation. Remember to back up what you are asking for with facts on why you deserve the raise.

Do Not Threaten Your Employer. If you have an offer from another employer, do not use this as a bargaining chip. It will not work and you will lose your credibility. This also lets your employer know that you are looking and you can leave at any time. As such, your employer is likely to ask you to please go to whoever is offering you a better pay.

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