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Is it time to ask for a raise? Do you feel like you are worth more than what you are getting paid? Asking for a raise takes preparation. Although you may feel like waiting until your boss increases your pay, sometimes that never happens and you have to take initiative. This can seem scary at first but remember, it if very doubtful that you will lose your job by asking for a raise.
I have been in the corporate world since 2002 and I have over-worked myself and never received any compensation for my loyalty and dedication. I realized there has to be another way, either I can ask for a raise or I can look for another job. Instead of dealing with the hassle of finding another job and adjusting to a new boss, I decided to put on my big girl pants and ask for a raise.
When it comes to asking for a raise, your boss can say “yes” or “no”. How do you improve the odds of getting a “yes”? You make yourself irreplaceable. Are you irreplaceable?
Before you ask for a raise, you need to decide if this is the right time. I do not recommend asking for a raise within the first 6 months of working for a company or within 1 year of receiving your last raise.
For obvious reasons, don’t ask for a raise if:
The best times to ask for a raise would be:
When you are preparing to ask for a raise, think about your career goals. I know having more money would be great but your raise should be advancement in your career. Remember you don’t need this raise, you DESERVE this raise.
So you are ready to ask for a raise. It is the perfect time; you have prepared all the proof needed about why you deserve a raise…but how do you ask? What’s the approach?
DO NOT ASK IN AN EMAIL! This is a big no-no. It’s tacky and not at all personal. This needs to be a face to face conversation.
Consider this an important meeting. Depending how formal or informal your boss is, first make a mention about wanted to talk to him or her for 15 minutes or so. This can be casual such as passing in the hallway or breakout time after a meeting. Be sure to ask what day and time works best for them.
After the initial mention, send a formal meeting request through the company email system. Only do this if your boss is prefers formal meeting requests. If your boss is an informal person, just show up to their office at the right day and time.
Last but not least, sell yourself. Present your rehearsed speech and answer any and all questions your boss may have.
You gathered up the courage to ask for a raise and they said no. What now? You have 3 options:
When considering your options, don’t forget about your career goals. Can you grow with the company or have you plateaued? If there is not growth opportunity, I recommend looking for another job. If there are great career opportunities at your current employer, stay. Remember you can always ask for another raise 6 months from now.
Have you ever asked for a raise? How did you prepare for it?