What is the Best Way to Ask for a Raise?

finance investing

With cost of living rising disproportionately to salary, many employees now feel the need to ask for a raise. It’s an uncomfortable subject for many, and we are usually not trained in how or when to ask for a raise. The goal when asking for a raise, besides getting, one is to keep communications with managers or bosses very positive. That way, even if the answer is “No!” the option to maintain a good relationship with the company is there.

Before asking for a raise, one should consider the likelihood of getting a raise. If the job has a salary cap you are well below, then you probably should ask for a raise. Often salary caps are raised after an employee has been working with a company for several years. This can be irritating to have new untrained employees coming into your company who are actually making more money than you. However, keep this irritation at bay and approach the situation logically.

It costs most employers more money to hire and train new people. If you have been a good employee, with a good attendance record and job performance, it is in the company’s best interest to retain you and increase your salary if you ask for a raise. Most companies would prefer to keep a fully trained worker than to hire someone new.

This does not, however, mean that one should threaten to quit if the request for a raise is not granted. Unless you have somewhere else to work upon quitting, don’t make this threat, and don’t treat a denied request in a negative fashion. It takes about an average of five months to find a new job, so consider the downfalls of quitting. If however, you’ve been given an offer from another company that is more lucrative, but you like where you are, you should make your company aware of this offer so they have the opportunity to match or beat it.

Most employment experts feel that you should ask for a raise in person. You can certainly write a short note to a boss saying you’d like to discuss your “development” in a company, and asking then for a time to meet. However, don’t refer to salary.

Once you’ve arranged a meeting with your employer, you need to have clear reasons to ask for a raise. Hold onto your performance reviews and document contributions you make to the company. Perhaps you are a great employee who hasn’t missed a day of work in two years. Perhaps you have brought new business into the company. Most reasons should be directly related to how you have contributed in ways that merit additional pay. These should be calmly related to the manager in a friendly way.

You may also want extra responsibilities or an opportunity to move up in the company. Some employers can take advantage of this by offering you extra responsibilities without a raise. This really isn’t fair. If you feel this offer is acceptable, you may want to accept it pending a review and raise within a specified number of months. When possible, get this agreement in writing.

Once you ask for a raise, suggest a possible number. Make it higher than what you want, but not ridiculous. Any possible number you suggest will probably be met with a counteroffer. So ask for more than you actually hope to receive. If you are experiencing financial hardship, tell an employer about this last. Unless your work is the reason for your financial hardship, this is generally not an adequate reason to ask for a raise.

Some employers go through several years of freezing employee’s salaries. Usually this means your request for a raise will not be granted. However, watch for improved financial conditions and strike when the time is ripe. Your loyalty to the company for continuing to work there despite frozen salaries can be emphasized.

Getting a raise often depends upon the economic conditions of the company. However, if you have brought in significant revenue, you should share in the profits through a raise. If you find your employer completely dismisses you when you ask for a raise, shop around for another employer. It is always a good idea to have a job while you look for your next, which hopefully will be a more lucrative one.

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Written by Tricia Ellis-Christensen

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