Pay raise tips to negotiate a higher salary increase. Asking for a pay raise can be rewarding, if done correctly. Negotiating in person is better than writing a salary increase letter or a salary negotiation email.
There is no standard method for securing a pay raise. These pay raise tips cover how to negotiate or ask for a pay raise. In addition to negotiating a job promotion. Successfully negotiating your pay raise results in $1000s over the course of your career.
Pay raise tips to successfully negotiate a salary increase
- You can 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 ask for a pay rise, you don’t get one.
- Evaluate what you are worth in the market place through job ads and associations. Use this as a guide for how much to ask.
- Make weekly notes of all your achievements. Also, note how the company and its clients have benefited. This is one of the best justifications for negotiating a raise.
- 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 phone … etc. Discuss all salary options that appeal to you with your employer.
- Through the hidden job market, if a company finds the right candidate, they will hire that person. As you would be the only candidate, you can negotiate a higher starting salary.
More pay raise tips
- If you are not successful in getting a pay raise, don’t make emotional moves.
- If your pay raise request is not successful, ask your boss what will qualify you for a raise. Also, ask what the time frame is. Follow up with him/ her within the time frame. If he/ she delays indefinitely, ask for a new time frame and follow up within the time frame.
- Whatever approach you choose to secure your next pay raise, it is best to negotiate a raise.
- If you are expecting a 10% pay raise, you should ask for 19%. And then negotiate with your employer.
- If it will be hard to replace you, you can negotiate a high pay rise.
- Many companies review everyone’s salary on a yearly basis. Ask for more than the standard pay raise, if you deserve it.
- If you deserve a pay raise, ask for it, even if your boss says the economy is bad. 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 and professional. Do not push your boss into making a quick decision about your pay raise.
- When you are successful in getting a pay raise, thank your boss. Thank you boss in person or via email.
What to avoid when you want a pay raise
- Avoid writing a salary increase letter, unless you have to. A face to face discussion or a phone discussion 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 boss.
- Sometimes, to justify why you deserve the pay raise, you may be asked to write a salary increase letter. Also see counter offer letter
- Even if your boss is in a different location, it is better to wait until they come back. So you can discuss in a face to face meeting instead of writing a pay raise request letter. Even if you have to call your boss, it is better than writing a pay raise request letter.
- If your performance is weak, delay asking for a pay rise. And don’t be persistent, until the factors improve.
We’ll add online salary negotiation coaching, how to negotiate your salary and sample salary increase letter. In addition to accepting or rejecting a new job offer and salary packaging negotiations.
Please share these pay raise tips and how to ask for a pay raise.
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