How to Ask for a Raise?
Every employee, company, and request for a salary increase is unique. Nevertheless, some aspects don't change with every demand: the accomplishments of the employee and how they are presented, the methodology of such requests are handled, and how the manager will react to them. In the following lines, we present the top 10 steps to take when looking for a raise:
1. Do Your Research
Understand the market value for your role in your industry and location. Websites like Glassdoor, Salary.com, and Payscale can provide this information. This will help you establish an appropriate salary range.
Tip: Usually, a salary increase is between 3 and 5% of your present pay.
2. Review Company Salary Norms
Understand your company's policies and norms regarding salary increases. Some companies may have predefined salary increase percentages or structures based on performance ratings or time spent in the position.
Tip: Do check the company handbook or invite your HR manager for a coffee to discuss such details.
3. Evaluate Your Performance
Reflect on your accomplishments, contributions, and the value you add to the company. Gather concrete examples and data to demonstrate this.
Assembling a list of astonishing results that you brought to your team or company will probably be the main factor helping your request to be accepted.
Your last performance review record can help you identify your accomplishments, and your manager's feedback can prove that you're a solid performer in the company and deserve a raise.
Tip: If you have done excellent work since your salary was set, it's a good time to ask for a raise.
4. Get the Timing Right
Choose the right time to ask. Ideally, this should be during a performance review or after you've completed a significant project or task successfully.
Tip: If the company's financial health is not at its best, you should postpone the meeting. Signs like spending cuts or layoffs are such signals. If the company's quarterly reports are public, then check the financial section before asking for the meeting.
Important: If your manager is under pressure with multiple projects and deadlines, again, decide to postpone the meeting rather than create additional work.
5. Prepare Your Proposal
Create a clear, concise argument for why you deserve a raise. Highlight your achievements, responsibilities, and the market value for your role.
Prepare for defensives. Your manager might come up with reasons to decline your requests, such as performance issues, unfinished projects, difficulties within the organization, economy, or priorities with other colleagues.
Set realistic expectations: Aim for a reasonable salary increase that aligns with your market value and contributions. Aiming too high without proper justification may hinder your chances of a successful negotiation.
6. Practice Negotiation
Consider how you will handle these objections in advance, discuss adding value, highlight your contributions, and explain confidently why you deserve a raise.
Tip: One of the most common negotiation aspects is the range of the salary increase you're looking to get. Also reflect on the timeline for the increase (it an be a 6-18 months with additional training and milestones required).
7. Schedule a Meeting
Request a private meeting with your manager. This shows that you take this matter seriously and give them time to prepare.
Tip: See the examples of emails for the salary discussion below.
8. Present Your Case Confidently
In the meeting, use your prepared pitch to explain why you believe you deserve a raise. Be professional and confident.
Tip: Focus on the benefits for your manager. Personal needs like mortgage payments or upcoming vacations are not good reasons for requesting salary increases. Reflect on what you can do in the future, key goals, and projects you aim to take over.
9. Be Ready for a Discussion
Your employer may want to discuss your request further, or they might need time to consider it. Be patient and open to discussion.
Tip: Confidence is key. Once you have researched comparable salaries for your job and experience and created the list with your accomplishments and future objectives, the dialogue should be easier.
10. Thank your Manager and Follow-up Professionally
Regardless of the outcome, respond professionally and thank your manager for their time.
Tip: Follow up accordingly. After the meeting, you might also write an email with your request, summarizing your points and interest.
Salary increase meeting request email
"Thank you for taking the time to meet with me after the unit meeting. I wanted to discuss my salary. Over the past year, I've taken on new responsibilities such as [mention responsibilities] and contributed to [mention significant projects or achievements].
I believe my role has evolved, and I'm providing more value to the company. After researching the current market rates for my role, my salary appears below the average. I would like to propose a fair adjustment to [mention desired salary]. I hope we can discuss this further in the following days."
Thank you for considering my request.
Email to Start a Conversation About a Salary Increase
Subject: Request for Meeting to Discuss Salary Adjustment
Dear [Manager's Name],
I hope this message finds you well. I'm writing to request a meeting to discuss my current compensation.
Over the past year, I've taken on additional responsibilities and have made significant contributions to our team, including [mention significant projects or achievements]. I believe these achievements and additional responsibilities have expanded my role and the value I bring to our team.
I appreciate your understanding and am open to a meeting at a time that suits you best.
Thank you for considering my request.
Email to Manager About a Salary Review
Subject: Request for Salary Review
Dear [Manager's Name],
I hope this message finds you well. I am writing to request a review of my current salary.
Over the past year, I have assumed additional responsibilities and successfully completed several key projects, including [mention significant projects or achievements]. I believe these accomplishments have increased the value I bring to the team and the company.
I would appreciate the opportunity to discuss this with you further. Please let me know a suitable time for you.
Thank you for your time and consideration.
How to Ask for a Raise with Another Job Offer?
If you have another job offer, approach the discussion professionally and honestly without using it as a threat. Here's an example:
Dear [Manager's Name],
I wanted to discuss something important with you. Recently, I was approached by another company with a job offer. They have offered me a position that aligns with my current role here but with a higher salary.
I want to be transparent about this situation as I value my position and work here at [Your Company]. I'm happy with my role, my colleagues, and the projects I'm working on. However, the salary difference is significant and has led me to reconsider my current compensation.
I would appreciate the chance to discuss this with you. Could we arrange a meeting at a time that suits you?
FAQ How to ask for a raise?
When to Ask for a Raise?
It's generally best to ask for a raise during your annual performance review or after you've successfully completed a significant project. However, if your job responsibilities have increased significantly without a corresponding increase in pay, you may choose to ask outside of these times.
How to Prepare for a Raise?
To prepare for asking a raise, you should:
- Understand the market value for your role.
- Reflect on your accomplishments and contributions.
- Prepare a compelling argument for the raise.
- Choose the right timing.
- Schedule a meeting with your manager.
What Should You Avoid and Not Say When Looking for a Raise?
- Weight your salary to that of your colleagues.
- Threatening to quit if you don't get a raise.
- Complaining about your personal financial issues.
- Asking without preparation or justification.
- Being confrontational or unprofessional.
What are the Factors That Determine the Salary?
Factors that determine salary include:
- The industry and the job market.
- The job location.
- The size and resources of the company.
- The employee's experience and education.
- The level of job responsibilities.
- The employee's performance.
What to Do Before You Ask for a Raise?
Before asking for a raise, you should do research on market salaries, evaluate your performance, and prepare your pitch. You should also consider the timing and schedule a meeting with your manager.
What Should You Do After You Ask for the Raise?
After asking for a raise, thank your manager for their time and patience. If the answer is positive, express your gratitude. If it's negative or uncertain, ask for feedback and the specific actions you could take to increase your chances in the future.
- Preparation is key: Understand market salaries, reflect on your achievements, prepare your argument, and choose the right time to ask.
- Professionalism is crucial: Whether in your pitch, your emails, or your reactions, always maintain a professional attitude.
- Use concrete examples and data: Your achievements, responsibilities, and the market rate for your role are the primary supports for your argument.
- Avoid comparisons and threats: Focus on your value and contributions, not on how much your colleagues earn or what you might do if you don't get a raise.
- Be open to feedback and discussion: If you're turned down, use it as an opportunity to learn what you need to do to increase your chances next time.