We all want a raise in our jobs, right? I mean, who doesn’t want more money? If you’re feeling overworked and underpaid, then you might be considering asking for a pay increase. However, you can’t just march up to your boss and demand more money. There’s a certain way to go about things before you ask for a raise. Here’s the ultimate checklist of things to make sure you’ve done before asking for a pay increase.
Are you worth it?
Okay, so it may seem like a really strange thing to say, but are you definitely sure you’re worth the raise you’re about to ask for? Now is the perfect time to assess all of your achievements and accomplishments in your career to date. Think back to the last time you received a pay rise (or if you haven’t had a raise yet, back to when you first started). What has changed from then to now? What have you added to the business you work for? What are your biggest accomplishments in that time? Write down all of your plus points over the last however long, including anything big that you’ve done that has improved the company you work for in some way. This will form the basis of your negotiation, so make sure you’ve fully assessed your performance and achievements.
Create a pitch
You may not work in the sales department of your business, but right now you’re about to sell yourself – and why you’re worth that extra money. You’re going to want together the best pitch of your life to convince your boss to say yes when you ask for that raise. Using the achievements and accomplishments that you’ve already written down, craft a sales pitch with one goal in mind – selling yourself. Why are you worth that extra money? It could be that you’ve single-handedly improved profits for the business, streamlined certain procedures to save them time, or that your performance reviews have been stellar every single time. Your Unique Selling Point (USP) needs to feature in the pitch, but think very carefully about it. Everyone is replaceable, realistically, so it has to be something that sets you apart from everyone else in the office.
Prepare for negotiation
You may have crafted the perfect sales pitch in the world as to why you deserve a raise, but that doesn’t mean your boss is going to say yes right away. Not unless you’re really lucky! With this in mind, make sure you’re prepared to negotiate. You may have gone in asking for a $2,000 pay rise, but your boss only wants to give you $1,000. Are you willing to accept that? Is that the industry standard? Is that what you’re worth? Just like any good sales pitch, there are always going to be negotiations. Prepare to answer questions, prove your worth, and get ready to compromise. However, don’t undervalue yourself. If the boss says no or is offering you a much lower amount, then it may be time to start looking for a job where you will be paid what you’re worth.
Before marching into the office and asking for a raise, ensure you are fully prepared by following this handy guide. Know your worth, create a pitch, and get ready to negotiate. Only then should you ask for a meeting with the boss to discuss your terms. It’s important to work for a company that knows your worth, so if you really feel underpaid then perhaps it’s time to revamp the resume and look elsewhere.