The end of the year is approaching and as you reflect on the past few months, you may realize that your workload has significantly increased and you’ve taken on a lot more responsibility. Is it time to ask your boss for a raise? The thought of asking for a raise can be absolutely terrifying. Consider these 5 steps when planning to ask your boss for a bump in pay:
- Timing is everything. It is important to ask for a raise after you have taken on more responsibilities and duties. In general, you want to ask prior to year-end so budgetary changes can be made. Another rule of thumb- don’t ask your boss for a raise when he or she is inundated with their own workload! Wait for a time when your boss can give you the time and attention to listen and validate your concerns.
- Ask for a reasonable salary. Use sites such as Glassdoor, Payscale and Salary.com to set a benchmark for a reasonable salary in your profession. You do not want to come off as greedy because that will increase your chances of being declined.
- Offer a salary range rather than an exact number. Make sure the low end of the range is still enough to make you feel content and satisfied.
- Make a valid pitch to justify a raise. Schedule a meeting with your boss and have set talking points to discuss. Make sure to quantify your achievements. For example – Did you exceed your sales goals? If so, by how much? Did you save the company money? Ask for a salary range and defend it with your accomplishments. It is important to let your manager do some talking, too. You need to know the next steps moving forward.
- Negotiate other perks if a raise is declined. Maybe your company is on a spending freeze or doesn’t have the budget for an immediate raise. If that is the case, consider asking for a bonus in the New Year, or more opportunity for remote work. Think about what perks would make you happier with your job if a raise is out of the question, and be prepared to ask!
We hope these 5 tips help you achieve your goal in obtaining a bump in pay! If you are looking for more job advice or thinking about changing careers, contact a McCallion Staffing recruiter at 215-855-8000. Best of luck!