Are you being stuck in one position with the same salary for a longer time? Do you see that similar job positions are getting more on the market than in your company? Then it's time to ask for a raise! But – don't rush. Check out these tips to keep in mind before asking for a raise.
Start with your self-confidence
Before you start getting deeper into a salary analysis on the market and listing all your achievements within the position – you should start with yourself. Are you ready to ask for a raise? Do you feel confident enough?
We often think we are ready to start a challenge or have an important conversation, but when the time X comes – it might happen that you'll just take a step back and will want to wait until the next chance. To make sure you don't give up – work on your confidence.
Think of all your achievements, both personal and professional, within the last 10-15 years. List everything from a small project to a significant change such as a move. Don't let these facts pass you by – list them all, read them to yourself, and as you read, feel how proud and confident you are. Remember that feeling and repeat this practice every day until the key conversation about a raise comes in. This way, you'll be sure you won't run from this chance and will confidently justify your reasons for a raise.
Analyse the salary ranges
To ask for a raise, you need to know the number you're asking for. Although many companies do their budget calculations and the same position's salary can differ from one place to another, it's still worth getting information on the average salary ranges.
Many websites provide such information based on the name of the position and country (for example, Glassdoor). Additionally, you can also check salary guides of recruitment companies that hold a lot of insight based on the industry and job positions (like Hays). All these resources can help you navigate within salary ranges and suggest the best raise percentage you can ask for.
Prepare your justification
It would be super easy if we all could just ask for a raise and get it. In reality, managers and supervisors want to hear why you need a raise and whether you really deserve it. At this point, it's essential not to get upset that you need to prove that you are worth it. Any company is a business that works for profit and needs justified reasoning behind it, so it's a step you can't avoid.
Think of all successful projects you started and completed in this role, tasks you did that were not covered within your job description, and overtime you took to complete emergency requests. Support your ask for a raise with your successful outcomes and everything you did beyond your set role.
Time it right
Now, as you have all resources ready, the question is – when to ask for a raise? There are a couple of deadlines you should keep in mind. Many companies plan their yearly budgets around Spring, which means you should start your raise conversation 3-4 months in advance to make sure your manager gets all needed approvals and submit the request in time. You can also aim for the time dedicated for company performance reviews, budget quarter deadlines or before the start of the new year.
Another great time to ask for a raise is the finish of a big successful project you managed. This way, you won't need to dig deep into justifications but will be able to use this fresh deal as your leverage. Lastly, don't forget about your manager, who'll be deciding on your raise – if you have a scheduled call or meeting, but there is bad news or the manager is in a bad mood, it's better to postpone the talk.
Be ready to hear No
And what if, after all your justification and reasoning, you hear No? Make sure to be ready for this scenario. “No” shouldn’t stop you, as you can still push back and provide more examples of your work done.
Don't get upset with the negative reply but better try to gather as much information from your manager as possible. Ask why your manager thinks so and what you could do to deserve it. You can also ask whether you could take some tasks or projects and if they end up successful you could talk again.
However, don't limit yourself to one company. In case you worked overtime, delivered stunning results, and went above and beyond, but the company doesn't recognise it – it could be a sign it's time to move on. Don't be afraid of challenging yourself and always seek what's better for you. And you'll get the support and raise you deserve!
In case you don’t want to be left alone while prepping on how to ask for a raise, check out the Femme Palette mentoring program. A mentor will support you along your career journey and suggest the best approach to this important conversation.