You excel in your role, perhaps even stand out as exceptional. You're a key player on your team and champion the broader business objectives.
However, you've noticed your salary hasn't kept pace with your growing contributions. Despite the absence of immediate advancement opportunities, you're considering asking for a raise. Here are seven key points to guide you through this process:
Know Your Value
Timing Matters
Showcase Your Achievements
Be Realistic
Set Up a Meeting
Confidence Is Key
Be Ready to Elevate Your Game
1. Know Your Value
Before initiating any conversation about a raise, it's critical to understand where you stand financially in your field. Tools like our Salary Guide Calculator can help you compare your earnings with peers in your specialty, factoring in experience levels.
Pro Tip: Use industry salary averages as supporting evidence rather than the main argument for your raise.
Even if you discover you're earning above the average, it doesn't mean a raise is off the table; it simply means you need a stronger justification.
2. Timing Matters
Understanding when to broach the subject is crucial. This involves knowing your company's budget cycle and when raises are typically discussed.
A promising time to ask might be after the company has met its targets, which you've contributed to, and budgets for the next cycle are being planned.
Also, consider the broader economic environment, such as inflation and cost of living adjustments, which may influence salary decisions.
3. Showcase Your Achievements
Prepare a list of your contributions, supported by data and examples. Highlight how you've added value, taken on more responsibility, navigated challenges, impacted your team positively, or improved efficiencies.
Use specific accolades, client feedback, or significant team successes as proof of your impact.
Also, share your future plans and how they align with the company's goals, helping your manager see the potential return on investing in your salary increase.
Aim high but stay grounded. If your requested raise significantly exceeds industry norms or your current salary, you'll need a solid argument to back it up. The Salary Guide Calculator can provide a benchmark for a reasonable request.
5. Set Up a Meeting
Now's the time to talk. Reach out to your manager via email to express your desire for a meeting, briefly outlining your reasons. This conversation is best had in person or via a video call for remote workers.
6. Confidence Is Key
Your approach should be confident yet professional. Speak clearly, stick to the facts, and use positive language. Demonstrating the company's core values and behaviors can only strengthen your case.
Post-discussion, be prepared for any outcome. If you secure the raise, be ready to validate the company's investment in you. If not, seek feedback and set clear goals for future eligibility.
Making Your Case for a Raise
Requesting a raise can feel daunting, but armed with the right preparation and mindset, you can navigate the conversation with confidence. Conduct thorough research, compile evidence of your contributions, set realistic expectations, choose the right timing, engage in person, maintain confidence, and be ready to step up your performance.
Feel free to share this guidance to help others navigate this pivotal career momen