Asking for a raise can be one of the trickiest things for many employees. Most people feel uncomfortable asking their boss for more money and do not enjoy negotiating their salary. That said, asking for a raise is a key component in reaching financial success. Here are a few tips for overcoming your apprehension and effectively negotiating your salary.
Keep track of your accomplishments.
It’s not enough to walk into your boss’s office and say you deserve a raise. Rather, you need to show what you have done to earn more money. Put together a list of achievements and use strong examples to support your position. You want to show your boss what you have accomplished and how you have helped the company.
Don’t get personal.
Avoid talking about how you need more money for bills, personal expenses, college tuition, etc. Instead, your request needs to be based solely on your value to the company. Businesses don’t pay people according to their financial needs so stick to how you benefit the business when it comes to asking for a raise.
Have a number in mind.
In order to negotiate effectively, you need to come prepared with a number in mind. You can come up with this number by comparing your job to others in the industry and seeing what the average salary is for someone with your skillset. You can also use your performance to negotiate this number.
Remember It’s not just about salary.
There is more to a raise than compensation alone. You can consider extra perks such as vacation time, flex scheduling, added training, or getting a better title that reflects your role.
Practice.
Perhaps the most important tip for negotiating salary is to practice what you are going to say. Try role-playing with a friend or colleague and rehearse your request. Becoming familiar with what words you are going to say can make all the difference.
While it may seem uncomfortable, asking for a raise is a necessary skill for employees. If you are doing a great job and you feel as if your performance is deserving of a raise, take a deep breath, consider these important tips, and prepare yourself to effectively negotiate your salary.