- Elon Musk, Investor & Entrepreneur
If you have ever entertained the thought of asking for a pay rise, then you likely know of the stress and anxiety that come with it. Asking for more money is often met with fear. And when you get right down to it, what you really fear is rejection.
But it doesn’t have to be this way. There are plenty of helpful things that you can do to make the process go smoother. This is your life we’re talking about here. If you’re thinking of asking for more money, you must believe that you are an asset to your employer.
And you never know; there’s a chance that your boss does, too! When it comes to your life and career, you need to do what’s best for you. So let’s explore how to ask for a pay rise and what you can do to prepare for the big question.
If you know how much you are worth to your company, you will have a much easier time asking for a pay rise. It will be beneficial for you to do a bit of research to see what someone in your position generally makes.
Fortunately, this is easier than you may think. A simple Google search should give you a rough estimate of the typical salary a person in your field should expect. With this figure readily-accessible, you’ll be able to move on to the next step.
Not only do you want to have some evidence to support your desired pay, but you also want to bring any data that reflects your value to the company. If you have played a role in increasing revenue – and you can prove it – you definitely want to submit this information during your request.
Some things to think about are the number of new customers or clients you have brought in. And if you keep a log of your sales numbers, be sure to bring that with you, too.
HAVE A FIRM NUMBER IN MIND
Now that you’re armed with sales data and salary projections, you’re ready to present your case. But knowing numbers and requesting them are two different things.
Don’t be vague about the kind of pay increase you’re looking to get. Your boss is probably going to ask you what you had in mind, and it’s important that you have a clear answer.
Remember to base your request on the salary research you did. Be realistic, as anything to the contrary could ruin your chances of getting approved. With that being said, you may certainly aim slightly higher, as negotiations could see you lose 15% of your request.
SET THE STAGE
In other words, you don’t want to surprise your manager. Unfortunately, just popping in and unloading this request can cause your superior to react in a negative manner, resulting in a “no” without giving your query the proper consideration.
Try emailing them ahead of time to schedule a meeting. Be sure to explain your reasons for wanting to meet with them. Just be sure that you don’t ask for your raise in pay via email. As you’ll see in the next step, this is crucial to your success.
While it may be really tempting to send a quick email asking for your pay rise, there are a lot of reasons why you should do it face-to-face. It is always easier to say “no” over the phone or via email than it is in person.
Think about it this way: it would be a lot easier for you to email your boss asking for an increase in pay. But if you put yourself in their shoes, it’s just as easy for your manager to email you declining your request.
Let’s look at some other reasons why asking in person will benefit you:
- You will appear bold and worthy of your request
- It will show that you feel you are valuable
- You will earn respect from your manager
- Your initiative will reflect your courage
Taking the easy way out can lead to immediate rejection. Show that you respect your boss enough to ask them for a pay rise in person and there’s a good chance you will get the respect in return in the form of more money.
HAVE A PLAN FOR THE FUTURE
Your manager must know you are committed to the company. After all, if they are going to hand over more money, they are going to want to know that you plan on sticking around for a while.
A great way to demonstrate your devotion is to have a game plan for the company’s future. Be prepared to share this with your boss so that they know you are serious about playing a large role in the company’s growth.
NOTHING PERSONAL, JUST BUSINESS
When asking for a pay rise, be sure to focus on work. One of the easiest things to do is fall into the trap of explaining yourself away for needing more money.
Turing your request into a personal matter devalues your role within the company. You want your raise to be based on your performance and merit, not because you’re getting behind on bills and having trouble making ends meet.
If you keep your reasons out of it and focus on your self-worth, your boss will be a lot more likely to respect your request for a pay rise.
By familiarizing yourself with each of the above key points, you will be more comfortable when the time comes to ask for a pay rise. That means getting out of your comfort zone. This may mean you need to rehearse things with a friend to ensure that you get it right.
With enough practice, you will finally gain the confidence needed to ask the question without feeling like you’re being a burden. This confidence can play a big role in you getting the answer that you’re looking for!
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Thought leaders & celebrities share their tactics for success on the Lisnic podcast by Lisa Teh & Nick Bell