How to ask for a pay raise and an tips on how to negotiate the highest pay raise. Also, how much pay raise you should ask for.
- Don’t expect to receive a pay raise automatically
- A pay raise can be in the form of salary packaging, such as a car, laptop or insurance.
How to ask for a pay raise
- Many companies review everyone’s salary on a yearly basis. But if you want more than the average, you need to ask.
- If you don’t get a pay raise, ask your boss how to qualify and what the time frame is.
- Take notes of everything your boss says.
- Follow up with your boss within the time frame given. But if they keep delaying, ask for a new time frame and follow up .
- Some of the best times to ask for a pay raise are:
- after a high achievement
- before next year’s budget
- after great financial results
- one you receive a job offer from a competitor
- Once you receive the pay raise, send your boss a thank you email.
Tips on how to ask for a pay raise
- If your role would be hard to fill, you will be in a very powerful position to negotiate.
- Make weekly notes of all your achievements, so you can show benefits to the company.
- If you deserve a pay raise, ask for it, even if your boss says the economy is bad. But don’t be persistent.
- If you are confident that you deserve a pay raise, be persistent. But do not push your boss.
- Delay asking for a pay raise if your performance is not good. If you do ask, at least don’t be persistent until you improve.
How much pay raise should I ask for?
- Research what you are worth in the market. Then ask for a pay raise based on your research.
- Ask for more than you are expecting and then negotiate. So, if you are expecting a 9% pay raise, you should ask for 19% and then negotiate.
- Also, see 3 examples of counter offer negotiation.
What if you don’t get the pay raise that you ask for?
- If you are not successful in getting a pay raise, stay calm and make logical moves.
- Ask your boss what will qualify you for a pay increase in the future and what the time frame is.
- Don’t complain to you coworkers that you haven’t received a pay raise for a long time.
Related topics we’ll be adding are how to ask for a pay raise for very high earners.
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