Asking for a Pay Rise Made Easier
Some people feel as if they are underpaid for the role they perform. Some accept it, but if that is your belief, why don’t you ask for a pay rise? Sure it can be a scary prospect for some people, but if you believe its justified, then why not present your case?. Even if it is never given, asking - appropriately - may show your professionalism and initiative. It’s essential that you have a good idea of how your colleagues and managers view you. If they consider you dispensable, your raise is less likely to come to fruition. However, if you have proved your value in the company and know first hand that you are one of the few capable of pulling off certain tasks, then you have a stronger case to argue.
Start by preparing yourself with the current company’s performance. Is the business meeting goals, where do you fit in with achieving these goals and how much value do you provide. Then you want to know what the current market rate is for someone in your position and align your tasks and pay accordingly. When determining your expected salary, you need to objectively put yourself in the employers shoes and ask: “How much would I pay this person to do this job?”. If you know you do extra work on top of your current position, don’t be afraid to make mention of this.
Your timing is the next major aspect of asking for a successful raise. For example, if the company has undergone a recent restructure which prompted a handful of layoffs, you may want to avoid asking for a raise. That is why phrasing your request is especially important. Phrasing your desire in two parts that recognises the current company situation and your own contributions. Something along the lines of:
“I understand that the company is looking at it’s most positive financial quarter to date. Our department has been putting in the extra hard yards and my last performance review was exceptional. I'm wondering if I could have a 5 percent pay increase”
If they respond tentatively, put forward your market data of your job position to support your request. If the raise proves unsuccessful, lay the groundwork for the future. Ask for constant feedback on your progress so you can improve. If no adjustment is in sight, then you know where you stand. You now have the choice to accept the outcome and move on, or perhaps its time to look elsewhere for another opportunity.