The top fashion color for 2014 may still be Radiant Orchid according to Pantone, but green accessories are also in style this fall, especially the kind that fill up your wallet or purse. And with the start of the fourth quarter and end of the year drawing near, now could be a good time to consider asking for a raise. This can undoubtedly be an intimidating task, so here are three steps to prepare you for taking the next step.
1. Consider the timing.
Timing is everything, particularly when it comes to asking for a salary increase. So, think about if right now is the optimum time to discuss the subject of a raise with your boss. Take into consideration the economy, how well the company is doing, if there have been signs of budget cuts or increases lately, and when compensation adjustments are usually done. On the other hand, if your employer does performance reviews at the end of the year, right now could be the perfect time to bring up the possibility of a raise. Often, employers have already budgeted for pay increases prior to employee reviews.
2. Do your homework.
If the timing seems right, then you need to do your homework so you’re prepared to logically and persuasively make your request. If you’re asking for a pay increase, there needs to be a good reason for it. Simply showing up every day and doing what’s expected of you isn’t enough. You must be able to prove that you’ve exceeded expectations, reached and gone past your performance goals, or provided tremendous value to the company. Keeping a running list of your accomplishments and praises from others will help ensure you don’t forget anything important. Your list should also include legitimate numbers that place a quantitative value on your work.
3. Second-guess yourself.
Once you think the time is right and you’ve gathered all the pertinent information, stop and second-guess yourself. Consider if your work performance and accomplishments truly merit a pay increase. Can you numerically show how your work has positively impacted your employer’s profits? If the answer is yes, then think about your attitude. Are you entering this process with a humble, thankful spirit or with an attitude of arrogance and entitlement? Even if you truly have earned a salary increase, your attitude and how you handle conversation with your boss could be the deciding factor in you seeing a higher number on your next paystub.
Everyone wants a raise, but most people don’t want to have the uncomfortable conversation about it with their managers. After all, it can be scary and intimidating to ask your boss for more money. If you properly prepare for it, though, asking for a raise can be a positive experience.
Do you have other tips for successfully asking for a salary increase? How have you secured raises in the past? Share your experiences of asking for pay raises in the comments section below.
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