How to ask for a raise
Asking for a raise can be a stressful situation in the workplace, but by being prepared and knowledgeable, you’ll be able to confidently ask for the raise you deserve. Read on for expert tips on how to ask.
Go ahead and show off -- this is your time to shine! "Collect testimonials from clients and colleagues of a job well done," Caroline Ceniza-Levine, founding partner of career coaching company SixFigureStart LLC, said. "Keep in mind that it's much more powerful to have an e-mail directly from Jane Doe saying you did a great job, than just saying that Jane thinks highly of your work."
Do your homework
Ceniza-Levine recommends making an effort to understand what's customary for your market in terms of compensation. "If you have data that shows people are being better compensated for roles similar to yours, that's social proof you're underpaid," she said.
Danny Cahill, president and CEO of recruiting firm Hobson Associates and author of Harper's Rules: A Recruiters Guide to Finding a Dream Job and the Right Relationship, agrees. "When asking for a raise, you should have at least two white papers sourced from a site such as Careerbuilder.com showing what someone of your skill-set, experience and education is making at other companies," he said.
Document your results
Sunny K. Lurie, PhD, CEO and founder of Fast Focus Careers, recommends employees document their results and accomplishments for the past year or two before asking for a raise. "Be prepared to discuss how your contributions impact the organization," she said.
Cahill recommends having quantifiable data showing how you either saved the company money or made the company money.
Be eager to learn and share your knowledge
Set yourself up for a raise by becoming the office enthusiast. "As industries change and companies try new ideas to remain in business, they need people who enjoy learning new information and sharing ideas," Lurie said. "This type of employee is priceless to organizational growth. Mention the specific information you shared and how it helped the organization grow."
Finding it difficult to muster up enthusiasm? Check out this article to evaluate whether your job is right for you.
Have a plan
Before asking for a raise, it's important to have a plan. First, decide how much you want to ask for. Then, figure out if you want to phrase it as a dollar amount or percentage.
Next time you ask for a raise, focus on your accomplishments and skills, and avoid exaggerating job offers or threatening to quit. Let your talents and charm speak for themselves.
Make it about the business, not about you
It can be difficult to separate business and emotions. According to Ceniza-Levine, your accomplishments should be highlighted by their business impact, including costs saved, revenue generated and profits increased. "Be very clear about how your contribution leads to bottom line impact."