Do you want a pay increase? One of the key elements to successfully asking for a raise is preparation. A successful request for a raise includes the proper timing, an organized request, and a strong case for the rise. We will examine a few of the steps you may take to assist yourself get ready to ask for a raise in the second of this three-part series.
Make Yourself Successful
- Become inspired by speaking to a friend who just got a raise. What worries and trepidations did they have? What benefited them? What would they have changed, if anything?
- Picture your success. Imagine yourself requesting and receiving a raise.
- Create supporting evidence. Be sure to back up your wage request with documented evidence when requesting a raise. This can include pay information, prior performance reviews, letters of recommendation, and a list of achievements and honors at work.
- Make a list of goals. Write down a summary of what you’re working on right now, together with your goals for the upcoming year, and explain how these efforts will affect the organization in the near future. What are your top priorities and how will they benefit the business?
- Prepare a brief overview of a significant project you’ve just finished, and email it to your manager.
Practice requesting a raise
- Make a list of the five to ten questions you anticipate being asked in response to your request for a raise. Your workload, performance, goals, and/or compensation may be the subject of inquiries.
- Create a script outlining the questions and responses you expect to be asked.
- Spend 25 minutes with a buddy or workmate practicing asking for a raise.
- When asking for a raise, consider the other factors that are important to you than money. Would you be open to giving up the chance to work part-time from home in exchange for a pay raise? or the capacity for flexible work hours?
- Have a backup plan in place in case your raise request is denied. A one-time bonus could be an option. Or even one additional day off? or the chance to assume more responsibility (which might result in a future raise)?
- Prepare your response to the following for 15 minutes: “Why should we give you a raise?”
- Make a recording of yourself asking for a raise and work on your presentation.
- Find out when your company receives requests for raises. If this is your first time requesting a raise, speak with your coworkers about the procedure and timing.
- Decide the course, workshop, training, certification, or degree you’ll need to improve your employability.
- Enroll in an online course or workshop to hone a particular talent.
- Work on your confidence since how you approach asking for a raise matters a lot.
Watch this space to find out what happens next!