If you feel like you have been doing an excellent job at work, don't be afraid to approach your employer for a raise. Many people are afraid to ask for raises even though they know they deserve them, making excuses like, "The economy is so down right now" or "I'll never find a good time." If this sounds like you, then it's time to stop getting in your own way and to start making a game plan for getting the higher salary you deserve. If you want to know how to ask for a pay raise, just follow these steps.
Getting a pay raise in most industries is hard to achieve unless you have leverage. Leverage can consist of such things as getting another job offer or doing above and beyond your job description consistently, effectively, and regularly. [1]
If you are a "star employee," a good company will often be able to find a bit extra to keep you satisfied. Be aware that it is a fairly standard tactic to tell you that the business is already over its annual budget, to try and deter you from asking.[2] This means that you need to know your worth as assessed against objective criteria (see below) and be persistent.
If you've already negotiated a pay deal with your boss, it may be harder to ask for more. Your boss assumes you're happy with the amount you're getting and isn't going to be favorably disposed to adding more financial burden to the company without good reason.
Be careful about using another job offer as leverage. Your boss may call you on it; it's important to really have such a job offer and be willing to take it if you're rebuffed by your boss. Be ready to walk that plank!
If your company is already "over budget" and suffering as a result of the recession, cut-backs, or any other reasons, you might be better off waiting until later. During a recession period, some companies will not be able to provide pay raises without also endangering your job. However, this doesn't mean that you should use this as an excuse to delay asking for a raise indefinitely
It's easy to believe you're worth more, especially if you feel as if you're giving 110 percent every day, but you need to demonstrate this objectively by assessing your worth against that of others in the same industry. Many employers say they don't give a raise until the employer does 20% more work than he did when he was initially hired. Here are some things you can take into account when you consider your worth:
Your job description
Your responsibilities, including any management or leadership tasks
Years of experience and seniority in the company's line of work
Your level of education
Your location
Getting a pay raise in most industries is hard to achieve unless you have leverage. Leverage can consist of such things as getting another job offer or doing above and beyond your job description consistently, effectively, and regularly. [1]
If you are a "star employee," a good company will often be able to find a bit extra to keep you satisfied. Be aware that it is a fairly standard tactic to tell you that the business is already over its annual budget, to try and deter you from asking.[2] This means that you need to know your worth as assessed against objective criteria (see below) and be persistent.
If you've already negotiated a pay deal with your boss, it may be harder to ask for more. Your boss assumes you're happy with the amount you're getting and isn't going to be favorably disposed to adding more financial burden to the company without good reason.
Be careful about using another job offer as leverage. Your boss may call you on it; it's important to really have such a job offer and be willing to take it if you're rebuffed by your boss. Be ready to walk that plank!
If your company is already "over budget" and suffering as a result of the recession, cut-backs, or any other reasons, you might be better off waiting until later. During a recession period, some companies will not be able to provide pay raises without also endangering your job. However, this doesn't mean that you should use this as an excuse to delay asking for a raise indefinitely
It's easy to believe you're worth more, especially if you feel as if you're giving 110 percent every day, but you need to demonstrate this objectively by assessing your worth against that of others in the same industry. Many employers say they don't give a raise until the employer does 20% more work than he did when he was initially hired. Here are some things you can take into account when you consider your worth:
Your job description
Your responsibilities, including any management or leadership tasks
Years of experience and seniority in the company's line of work
Your level of education
Your location