If you did not have an end-of-year review last December, you may be waiting for an annual review based on your hire date or quarterly reviews for the previous year. In such a scenario, you might be assessing your work and gearing up to ask for a salary raise. If that’s the case, we have some tips that you should follow to negotiate a pay raise.
Here are five steps that can help you ask for a salary raise with confidence and success. Read them carefully below.
List out accomplishments in the past year
It’s a good idea to prepare a list of all your accomplishments over the past year before any review or salary negotiation. If you achieve specific goals, make a note of them. If you have numbers, statistics, or metrics that demonstrate how you contributed to company revenue or overall growth, write them down. It’s important to provide a comprehensive overview of everything you did to contribute to the company and its success. Even if you don’t have concrete numbers, if you played a significant role in fostering team spirit, consistently worked late to meet deadlines, maintained a positive attitude, or acted as a leader, be sure to include these details in your list as well.
Research industry salary benchmarks for your role
It’s important to research before discussing salary with your employer. You may feel that you’re not being paid fairly or that you deserve a higher salary based on your performance. Therefore, it’s helpful to have some average salary figures on hand from your research. There are many websites available that provide baseline salaries based on your title and city, taking into account your experience and industry. Make sure to use these resources to your advantage. They can help you have a more productive conversation with your supervisor and employer.
Ask Questions
During a conversation, it’s important to give the other person a chance to ask questions or express their ideas. This will help the conversation flow smoothly and give you a better understanding of where it’s heading. If the conversation is part of an annual review, your manager may bring up topics related to your success.
Be Confident
Asking for more money can be nerve-wracking, but it’s important to recognize your worth and be confident in your abilities. You were hired for a reason and deserve to be recognized for your hard work and dedication.
Provide Request in Writing
It’s a good practice to summarize your discussion in writing after you’ve had a conversation either in person or virtually. Make sure you include the important points of the conversation and what you’re looking for. It’s best to do this within 24 hours after your discussion to show that you’re serious about it and to provide a timely response to your request.
Conclusion
Don’t be afraid to ask about salary and remember your worth when discussing it and your growth within the company. The right employers will have already acknowledged your value and will appreciate your professional approach in presenting your request.