Much of what is required for a raise is demonstrated in a person’s work. However, what happens when you’re doing the work and you don’t think you’re adequately compensated for it? How do you ask for a raise without being reprimanded for asking? Here are three quick tips to ask for and get the raise you deserve!
1. Find out how raises work in your company
Be sure you know the guidelines for asking and how compensation is structured. This may seem like a task if your company doesn’t make this information accessible to its general employees. I suggest meeting with your immediate superior to establish how this process works. Be sure to have a proposal ready to speak to and support your compensation request. It’s in your best interest to create something short and simple outlining your work and desire for an increase.
2. Make sure you keep track of your work and extracurriculars on the job
In other words, what supports your desire for compensation? Of course, you deserve it, but this has to be proven to your company or employer. As a business, all compensation has to make sense. There are instances where an employer wants to give employees a raise but financially ends may not meet. Sometimes there is a gap between what the employer believes you do and what you actually do. It’s often misguided and not completely accurate in your job description. Many times human resource coordinators draft up the descriptions. There’s a market value for every position in an industry and that’s what companies use to base their salaries on. Be sure you’ve researched the market and competencies.
3. Outwork your earning potential
This is a simple thought. Operate with excellence in all you do and make yourself irreplaceable. I believe that many companies want value and want employees they don’t have to worry about or micromanage. In these cases asking for a raise is easier to digest than it would be for someone who isn’t doing the work. Keep this in mind as you’re preparing for your increase. If you know you’re in good standing and deserving of a raise then go for it. Get what you’re worth!
Lastly, understand that there are times when you may not receive that raise you’re after. That’s okay. Sometimes the perks that come with the job balance the payout. Sometimes they don’t. Always do what makes sense financially; stability is needed in the financial world. Be sure to always save for a rainy day and be sure to stay with your job until you’re ready to sustain yourself without it for however long you may need. The job hunt can be tedious and you want to line things up before you go.
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