Getting a raise involves strategic preparation and a professional approach, demonstrating your value and aligning your request with market standards and company goals.
1. Timing is Key
Choosing the right moment to ask for a raise significantly impacts your chances of success. Consider:
- Performance Reviews: This is often a natural time to discuss your contributions and compensation, as your performance is already being evaluated.
- Project Completion: After successfully completing a major project or initiative where you significantly contributed to company success.
- Company Performance: If the company has recently met or exceeded its financial goals, it might be a more opportune moment.
- Increased Responsibilities: When your role has expanded significantly or you've taken on duties beyond your initial job description.
- Avoid Busy Periods: Steer clear of times when your manager or the company is under high stress or dealing with major challenges.
2. Research Salary Trends
Before you ask, understand your market value. This involves researching what professionals with similar skills, experience, and responsibilities earn in your industry and location.
Here are some reputable resources for salary research:
| Resource | Description |
|---|---|
| Glassdoor Salaries | Provides anonymous salary data for specific roles and companies, often including benefits information. |
| Payscale | Offers personalized salary reports based on your skills, experience, location, and industry. |
| LinkedIn Salary | Leverages LinkedIn's vast professional network to provide salary insights for various roles. |
3. Determine Your Target Amount
Based on your research and your specific contributions to the company, decide on a realistic yet ambitious salary figure. Aim for a specific range rather than a single number. For instance, if the market rate is $70,000, you might aim for $70,000-$75,000. Be prepared to justify this amount with data and examples of your performance.
4. Schedule a Formal Meeting
Do not ambush your manager with a raise request. Instead, schedule a dedicated meeting. This demonstrates professionalism and ensures your manager can give you their full attention. A simple request like, "I'd like to schedule some time to discuss my growth and compensation within the company," is appropriate.
5. Prepare Your Case Thoroughly
This is where you build a compelling argument for why you deserve a raise. Gather and organize the following:
- Quantifiable Achievements: Document specific instances where you've added value, saved money, generated revenue, improved processes, or exceeded expectations. Use numbers whenever possible (e.g., "Increased project efficiency by 15%," "Led a initiative that resulted in $50,000 in new sales").
- Expanded Responsibilities: List any new duties or projects you've taken on since your last compensation review.
- Skills Development: Highlight new skills you've acquired or training you've completed that benefit the company.
- Market Value Data: Have your salary research ready to support your desired compensation range.
- Your Value Proposition: Articulate how your unique contributions align with the company's strategic goals and bottom line.
6. Be Ready for Questions and Negotiation
Your manager may have questions or counter-offers. Be prepared to discuss:
- "Why do you feel you deserve a raise?" Reiterate your achievements and value using your prepared points.
- "What are your salary expectations?" State your researched range confidently.
- "What are your future goals with the company?" Show your commitment and ambition.
Stay calm, confident, and professional throughout the discussion. If an immediate raise isn't possible, explore alternatives like a clear path to a raise, a bonus, additional benefits, or professional development opportunities.
7. Express Gratitude
Regardless of the outcome, thank your manager for their time and for considering your request. Maintaining a positive and professional relationship is crucial for your career progression. If your request is denied, ask for clear, actionable feedback on what steps you need to take to be considered for a raise in the future.
