Things to do before you ask for a raise
If you believe you should be paid more for your work, you can do two things: either look for a higher-paying job or talk to your boss about getting a raise. Both options can make you feel nervous, but they can also open the door to fresh opportunities. Here are some important steps you need to take before asking for a raise during appraisal.
Know what you want
Be clear about your desired amount before seeking a salary hike. Define the raise you aim for to have a meaningful conversation with your manager. State the exact figure to reduce confusion and aid your boss in considering your appeal. Consider what job aspects are crucial to you, like financial rewards, career advancement, or work-life balance. Knowing your priorities helps present your case effectively.
Get the timing right
To improve your chances of getting a raise, it is important to understand your company's raise and budget cycles. It could be once a year, either on your employment anniversary or aligned with the company's fiscal year and budget planning. Once you know the timing, plan to talk to your boss about the raise a month or two in advance.
Document evidence
Be prepared to talk about the work you have done that you think deserves higher pay. You need to make a strong case for why you deserve it. Show evidence of your success, like keeping a record of your achievements and saving emails or notes where people praised your excellent work. It will strengthen your request for a well-deserved raise.
Know your company's salary structure
Employers vary in how they handle pay increases. Some have strict policies, capping raises at around five percent, while others are more generous. Knowing your company's typical approach to raises can give you an idea of what's possible and help you set realistic expectations. Understanding this will guide you when you ask for a raise and allow you to plan accordingly.
Be prepared for a 'no'
Be prepared for the possibility that your manager might initially say "no." Don't let it discourage you; view it as a chance to learn. Listen to your manager's reasons, as they can provide valuable insights for your future growth. Discuss their expectations, set up an action plan, and ask again for a raise in the next cycle when the time is right.
