How to Ask for a Raise This Year

Before you ask for a raise, do some research to find out what others are paid for doing a similar job. A good place to start is a salary comparison website such as PayScale. However, also speak to recruiters and other people working in your field and check the job ads.

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The website Your Office Coach suggests that you also speak to your HR manager to find out what your company’s pay practices are. This will give you an idea of the pay scale for your position. And if you're new to the game, check out these high-paying Canadian jobs that don't need a degree.

Well before you approach your boss for a raise, find out what the criteria would be. For example, would you need to take on extra responsibilities? This could encourage your boss to think about the issue.

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Many companies draw up their budget several months before they discuss performance reviews with their employees. You need to make your request for a raise at least two months before your performance review comes up. It's a thing to know for how not to ask for a raise.

Different companies give salary increases at different times. Some do it at the start of the financial year, while others wait for your birthday month. Find out what the policy at your company is and time your request for a raise accordingly.

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You’re more likely to get a raise when your company is doing great financially than when it’s struggling. Expansion and record-breaking sales are indications that things are going well but if there have been layoffs or the company is trying to cut costs in small ways, asking for a raise will make you look out of touch.

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Your boss’s personality is an important factor to consider when you’re planning on asking for a raise. Some managers prefer a sales pitch, while others prefer a more subtle approach. Think carefully about what would work best with your boss.

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Forbes suggests that you keep a record of everything you’ve accomplished in the past year, such as successful projects, praise from clients or your superiors, and extra responsibilities you’ve taken on. This way you can show your boss exactly how much you mean to the company.

Take the approach of selling your skills and your worth as an employee. Your mortgage, how many kids you have to feed or how much debt you’re in aren’t relevant to your boss and bringing up these issues will make it seem as if you’re begging.

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Be realistic about the kind of salary you can expect. If you’re in a junior position, you can’t expect a senior manager’s salary, just like you can’t expect to be paid the same as a doctor if you’re a cleaner.

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Don’t take a negative approach such as saying you haven’t had a raise in three years. Instead, focus on your strengths because as Salary.com points out, harping on the negative will come across as lazy and self-absorbed.

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Some people work or a company for twenty years without really accomplishing anything extraordinary, so the amount of time you’ve been with the company is irrelevant. What is important is what you’ve been doing in that time.

By asking for a promotion in place, you’re keeping the same job title but get compensated for the extra responsibilities you’ve taken on. These responsibilities may put you on a par with someone higher up the food chain, and you deserve being compensated accordingly.

Make sure to pay attention to your body language during the conversation. For more tips, read up on the bad body language habits you could be guilty of at work.

At some point during the discussion, you’ll have to state how much you want. You can wait for your boss to come up with an offer and then negotiate from there or you can be the one to state the figure first.

However, have a specific figure in mind, based on a 3 per cent to 5 per cent increase for great performance or a 10 per cent increase if you want a promotion too.

If you threaten to leave unless your boss makes a counter-offer, you will seem disloyal and your boss will feel that you could leave at any moment, even after you’ve received a raise. This could eventually lead to you being pushed out anyway. Read on for more ways bad managers make good employees quit.

When you tell your boss that a co-worker is making more money than you do, you will look petty and like you’re a gossip. It can also sour relations with that co-worker. Besides, your salary is based on what you do and what you bring to the company, not on what others earn.

A half-hearted approach won’t get you anywhere. Be confident in your worth, and you’re more likely to sell the idea of a raise or even a promotion.

Don’t become discouraged if your request is met with a no. Say that you understand that a raise isn’t possible right now but ask what you would need to bring to the table to earn a raise in the future. Then work on meeting those criteria and try again.

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If the budget doesn’t allow for the long-term commitment of a salary increase, your boss might still be able to give you a one-time performance bonus. This is often easier to get than a raise.

If a raise isn’t possible, but you have taken on more responsibilities, see if you can get a different job title that reflects what you actually do. This will help you to better compare your salary with others in your field and may help you find a better-paying job.

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