Pay raise tips to help you to ask for a pay raise. Asking for a pay raise can be successful and rewarding if done correctly. A meeting is better than writing a pay raise request letter or sending a request for a pay raise by email.
There is no standard method for securing a pay raise, but these pay raise tips are an overview of different approaches on how to get, negotiate or ask for a pay raise or job promotion. It is best to have a meeting instead of writing a pay raise request letter or email.
To follow are some pay raise tips on how to ask for a pay raise or job promotion:
You can practically ask for a pay raise at any time of the year, but the best times to ask are; after the company announces good financial results, before next year’s budget, after you have secured another job with a competitor or after you have successfully completed a major project.
Sometimes, if you don’t negotiate or ask for a pay rise, you may not get one, so don’t hesitate to ask for one.
It is usually quite simple to ask & if you haven’t received a pay raise recently, your boss is probably expecting you to ask for one.
A pay raise can be in the form of salary packaging. It can be a company car, laptop, additional insurance, cell or mobile phone…. etc. Discuss all the salary options that appeal to you with your boss/ employer.
If you ask for a pay raise & you are not successful, ask your boss what will qualify you for a raise in the future & what the time frame is. Follow up with him/ her within the time frame given to you. Again, if he/ she delays indefinitely, ask for a new time frame & follow up within the time frame.
If you are not successful in getting a pay raise, make logical professional moves, not emotional ones.
When you are successful in getting a pay raise, it is a good idea to thank your manager verbally, via email or via letter.
Whatever approach you choose to secure your next pay raise, it is best to negotiate.
If you are expecting a 10% pay raise, you should ask for 19% & then negotiate with your boss/ employer. If your job role is critical, if you are underpaid or if your role would be hard to fill if you left, then you will be in a more powerful position to negotiate your pay raise.
It is best to avoid writing a pay raise letter or to send a pay raise email request, unless you have to. A face to face discussion or via phone are the best methods to discuss a pay raise. While some write a pay raise request letter, we recommend you ask for a meeting with your immediate manager & discuss this in the meeting. On rare occasions, to justify why you deserve the pay raise to more than your immediate manager, you may be asked to write a pay raise letter. Even if your immediate manager is in a different location, it is better to wait until you can discuss in a face to face meeting instead of writing a pay raise request letter. Even if you have to discuss the request on the phone, it is still better than writing a pay raise request letter.
Many companies review everyone’s salary on a yearly basis. Asking for a pay raise at your yearly review is fine, provided you deserve it.
Evaluate what you are worth in the market place through newspaper ads, associations, colleagues… etc. This can be used as a benchmark for how much of a pay raise you should ask for.
Make weekly or monthly notes of all your achievements & how the company and/ or its clients have benefited from your achievements. This is one of the best justifications for a pay raise.
If you deserve a pay raise, ask for it, even if your boss/ employer says the economy is not that good … etc. and don’t give up, even if they are not giving anyone else a pay raise.
If you are confident that you deserve a pay raise, be persistent, but be reasonable & professional. Do not push your manager into making a quick decision about your pay raise.
If there are a combination of negative factors such as bad economy, high unemployment in your field or industry and/ or your performance is not that good, it is a good idea to delay asking for a pay rise or at least don’t be persistent until the factors improve.
Through the hidden job market, if a company finds the right candidate for a job, without having to advertise or having to go through the trouble of searching or recruiting, they will hire that person. As you would be the only candidate, you would be able to negotiate a higher starting salary.
Related topics we’ll be adding shortly: online salary negotiation coaching, job promotion tips, job promotion letter, pay rise sample letter, how to qualify for your next job promotion, accepting or rejecting a new job offer and salary packaging negotiations.
ASK US if you have questions about the above pay raise tips or if you need assistance/ advice to negotiate your next pay raise or to negotiate a salary for a new job offer.
Please share these pay raise tips and how to ask for a pay raise and salary negotiation with those who can benefit from them.
KMD-solutions is based in Sydney, NSW, Australia