How To Ask For a Raise

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Asking for a raise can be nerve-wracking, but it’s an important step in your career growth. When you’re looking to increase your salary, it’s important to approach the conversation professionally and strategically.

In this blog, we’ll cover everything you need to know about how to ask for a raise, including what to say, what not to say, and how to handle a situation where you’re underpaid. We’ll also provide tips for writing a professional email asking for a raise.

How to ask for a raise

• First, know that it’s normal to ask
• Be thoughtful about your timing
• If you’ve been doing excellent work for a year since your salary was last set, it might be time to ask
• Know your company’s raise and budget cycles
• Know what your work is worth and start by researching online
• Factor in your company’s salary structure

Assessing Your Situation

Before you begin to ask for a raise, it’s important to assess your situation. First, consider your worth. Look at what other people in similar roles are making and what you bring to the table that makes you valuable to the company. Make sure you’re asking for a reasonable increase based on your contributions and the market value for your role.

Next, evaluate your performance. Make sure you’ve been meeting or exceeding expectations and have examples to back up your achievements. Be prepared to demonstrate your value to the company and how you’ve made an impact. This will help you make a more compelling case for a raise.

Timing and context are also critical when asking for a raise. It’s essential to choose the right time to ask for a raise. The best time to ask for a raise is when you’ve just completed a significant project or achieved a significant milestone, and when the company is performing well. Timing is everything when it comes to getting a raise, so make sure you pick the right moment.

Assessing Your Company’s Financial Situation

Before asking for a raise, it’s important to consider the financial health of your company. If your company is struggling financially, it may not be the best time to ask for a raise, as the company may not have the funds available to grant your request.

To assess your company’s financial situation, consider the following:

• Company Performance: Look at the company’s financial performance in recent years. Has it been consistently profitable, or has it been experiencing financial difficulties? Check for any financial reports or updates that may have been shared with employees.
• Market Position: Consider how your company is performing in relation to its competitors. Is it thriving or struggling? Are there any signs of financial distress or uncertainty in the industry?
• Company Culture: Consider the overall culture of the company. Are there any signs of cost-cutting measures being implemented? Are there any recent layoffs or furloughs?
• Opportunities for Growth: Consider any upcoming projects, new clients, or other opportunities for growth that your company may be pursuing. These could be signs of a healthy financial future for the company.

After considering these factors, you should have a better idea of whether it’s a good time to ask for a raise. If your company is in a strong financial position and you have been performing well, it may be a good time to make your case for a raise. On the other hand, if your company is experiencing financial difficulties, it may be best to hold off on asking for a raise and wait for the company’s financial situation to improve.

Preparing Your Request

Once you’ve assessed your situation, it’s time to prepare your request. Set a realistic goal for your raise, and make sure it’s based on your contributions and the market value for your role. Research salary data and industry standards to make sure you’re not asking for too much or too little.

Practice your pitch so you can make a compelling case for your raise. Practice with a friend or family member, or even record yourself giving the pitch. Make sure you’re concise and direct in your pitch and focus on your contributions and the value you bring to the company.

How to research your market value

If you would like to find out what the average salary is for your position, you can use mywage.co.za.

Simply use the link above and enter your current job title and years of experience and you will get a breakdown of the salary range and average salary for your position.

Approaching Your Employer

When it’s time to approach your employer, it’s important to choose the right person to talk to. This might be your direct manager or someone in HR, depending on the company’s structure. Make sure you schedule a meeting, so you have their full attention and can discuss the matter without distractions.

When making your case, focus on your contributions and the value you bring to the company. Make sure you have specific examples to back up your achievements and demonstrate why you deserve a raise. Be prepared to negotiate and have a backup plan in case your employer is unable to meet your request.

What to Say When Asking for a Raise

When asking for a raise, it’s essential to be direct and concise. Start by expressing your appreciation for your job and your commitment to the company. Then, state your request clearly and provide reasons why you believe you deserve a raise. Focus on your contributions and the value you bring to the company.

For example, you might say something like this:

“Thank you for taking the time to meet with me today. In my current role, I’m excited to keep working towards key company goals and grow my personal responsibilities. As a result, I’d like to discuss my salary.

 

“Based on the research I’ve done, which includes looking at averages for my job title and considering my tenure here, my years of experience and skill set, a salary increase of X% is appropriate.

 

“In the time since my last salary adjustment, I’ve worked on several initiatives that have added significant value to the company. For instance, in the last few months, I [insert example of your most impressive accomplishment]. These achievements have made me ready for a raise.

 

“Does that sound fair?”

What Not to Say When Asking for a Raise

Comparing yourself to others: Avoid comparing yourself to other employees, especially if they are making more than you. Focus on your own contributions and the value you bring to the company.

Threatening to quit: Threatening to quit if you don’t get a raise is not a good strategy. It puts your employer in a difficult position, and it could backfire if they decide to let you go instead.

Making demands: Be assertive, but avoid making demands. You want to come across as professional and reasonable, not entitled or demanding.

How to Ask for a Raise When You’re Underpaid

If you’re underpaid, it can be challenging to ask for a raise. However, it’s still essential to approach the conversation professionally and strategically. Here are some tips for asking for a raise when you’re underpaid:

Research market value: Research the market value for your role and the average salary for similar positions in your area. This will help you make a more compelling case for a raise.

Focus on your contributions: Emphasize your contributions to the company and the value you bring to the table. Make a clear and concise case for why you deserve a raise.

Negotiate: Be prepared to negotiate and have a backup plan in case your employer is unable to meet your request. This might mean looking for other job opportunities or taking on additional responsibilities to increase your value to the company.

Writing a Professional Email Asking for a Raise

If you’re unable to schedule a meeting with your employer or feel more comfortable communicating via email, it’s possible to ask for a raise in writing. Here are some tips for writing a professional email asking for a raise:

• Be concise: Keep your email brief and to the point. State your request clearly and provide reasons why you believe you deserve a raise.
• Use a professional tone: Make sure your email is professional and respectful in tone. Avoid using overly casual or informal language.
• Provide evidence: Include specific examples of your contributions to the company and the impact you’ve had on its success. This will help make a more compelling case for your raise.
• Follow up: If you don’t receive a response to your email, follow up with a phone call or in-person meeting to discuss the matter further.

Sample E-Mail

Dear [Manager’s Name],

 

I appreciate you taking the time to meet with me today. As you know, I am passionate about contributing to the company’s success and taking on additional responsibilities. With that in mind, I would like to discuss my salary.

 

After conducting research on the current job market and considering my experience and skillset, I believe a salary increase of X% is warranted. This would bring my compensation in line with industry averages for my position in this area, as well as reflect my tenure and contributions to the company.

 

I am proud to have achieved several notable accomplishments since my last salary adjustment, including [insert example of your most impressive accomplishment]. These successes have undoubtedly added significant value to the company and have further strengthened my commitment to my role.

 

I believe that an increase in my salary is not only appropriate but necessary to recognize my hard work and dedication. I am confident that we can come to an agreement that is fair and reflective of my contributions to the company.

 

Thank you for your consideration, and I look forward to discussing this matter further.

 

Sincerely,

[Your Name]

Know what to say if the answer is “no” or “maybe.”

In case your boss doesn’t provide a definite response and instead opts to think about it or get back to you later, don’t worry as it is a common occurrence. However, if you receive a vague response like “maybe,” it is crucial to clarify the next steps. You can ask something like, “Can I follow up with you during our meeting on the 20th?” Alternatively, if your boss has a history of following up on issues, a simple “Thank you! I appreciate it” might suffice.

In the event that your boss declines your request, use this opportunity to ask, “Can you enlighten me on what I need to do to earn a raise in the future?” A good manager should be able to provide an explanation of what you should do to earn more, which could involve taking on more autonomy, improving your relationship with coworkers, or earning a promotion. Afterward, you can evaluate whether you are capable and willing to pursue the course of action laid out by your manager or if there is even a viable path to take. If your boss cannot offer specifics on how you can earn a raise, it’s a sign that you may need to consider leaving to find better compensation elsewhere.

Conclusion

Asking for a raise can be nerve-wracking, but it’s an important step in your career growth. When approaching the conversation, it’s essential to be direct, concise, and professional. Make sure you’ve assessed your situation, prepared your request, and chosen the right person to talk to. Focus on your contributions and the value you bring to the company, and be prepared to negotiate. With these tips, you’ll be able to make a more compelling case for your raise and take a step forward in your career.