Asking your manager for a raise or promotion can be intimidating, but it’s worth having this conversation.
As part of your salary research (explore several sites), it’s essential that you know what your worth in relation to other employees in similar roles and companies. If a raise isn’t possible right away, explore other forms of compensation options instead.
Prepare yourself thoroughly before approaching your boss about a raise or promotion, including researching comparable salaries and considering your motivations for asking. Perhaps even practice in front of a mirror, or record yourself to gauge how it comes across.
Your manager should recognize both your value to the organization and what it would cost them to hire and train a replacement employee in your role. Knowing you are worth more than what they currently pay could persuade them to give you that raise.
However, it’s not unusual for employees to be denied raises and promotions. If this occurs to you, try working out something mutually agreeable – like extra vacation days or flexible scheduling arrangements – so that you still feel valued, respected and optimistic about your career path.
Keep an Open Mind
At your meeting with your boss, keep in mind that not everything may be within your grasp. Some companies only give raises under specific criteria such as years at work or financial success of the company. Therefore, it is essential to discuss their budget beforehand to understand how you should approach salary discussions.
When seeking to secure both promotions and raises, beware of coming across as unappreciative. Asking for more money when others in your team or department have been let go or the company has experienced losses could appear rude to managers; stay positive by remembering you are helping the company thrive; this will strengthen your case.
Be Prepared for a No
Your manager may not be able to give you what you desire in terms of raise, but that doesn’t mean your company or firm doesn’t value you. In fact, if they have given you a promotion that shows they believe in your abilities and are giving you an opportunity to prove them right.
Negotiating for a raise doesn’t have to mean being disrespectful of your employer; oftentimes it’s the only way you’ll secure a higher salary. Your company probably recognizes that hiring and training new people would cost more money than simply offering you an increase.
Take a moment and think about all that you have done for your organization over time. Write these down, as this will strengthen your case during negotiation. Don’t forget that managing is difficult enough without worrying about managing teams, meeting business targets and furthering personal careers!
Have a Backup Plan
Assuming your request is denied, having a backup plan in the form of smaller salary raises, changes to working hours or any other perk is important to have ready in case the main option falls through – though beware – new research suggests simply having multiple means can demoralize motivation!
When formulating a backup plan for your manager, aim to incorporate what they’d find most valuable into it. An increase within normal range is more likely to receive approval; moving departments or jobs will require further discussion and negotiation before being secured. Your manager wants to see that you’re committed to their company’s long-term success – this will be easier if there is a plan in place which shows how your work benefits it.