Finding a new, higher-paying job or requesting a raise are your two options if you feel that you deserve to be paid more for the work you do. Both of these career options open doors to new prospects but might also bring on fears. If you like your current position and think you can advance there, it’s a smart idea to request a raise. After all, your employer might not be aware of your dissatisfaction with your current salary.
In this article, we will outline a guideline for requesting a raise from your manager.
Timing is important
You’re going to approach your manager to ask for this raise, and your manager is a person with typical human feelings. As a result, you shouldn’t approach them to discuss your compensation while their particularly busy, having a terrible day, or anxious about upcoming budget cuts. On the other side, it might be a particularly ideal time to make the request if you’ve recently saved the day with a crucial customer, received glowing evaluations for a high-profile project, or your boss has recently been very pleased with your work.
If you haven’t asked for a raise for more than a year, it might be time
According to indeed.com, some businesses may independently examine your salary each year, frequently in conjunction with performance evaluations. However, many people won’t bring it up on their own, so you’ll need to decide when to bring it up yourself. In most circumstances, it is fair to request that your pay be reviewed now if it has been a year or more since it was last determined and you have been producing great work throughout that time.
Be aware of your companies budget cycle
Pay attention to when your employer typically grants raises each year. It can fall close to the anniversary of your start date in some organizations. Plan to start the conversation with your supervisor at least a month or two before the formal procedure starts once you are aware of when that occurs. It might be too late for them to make changes if you wait until raise decisions have been made.
Know the worth of your work
Ideally, you shouldn’t answer salary inquiries until being familiar with the salary range for the profession you do and the place in which you do it (since there can be big variations by region). If you learn that your salary is too low for the market, you can use that as a strong argument when you request a raise.
Also see: 5 ways to survive a toxic work environment
