Time now for our make more segment of the show.
Asking your boss for a raise can definitely be intimidating and I’m going to do an in depth interview with a negotiation strategist at some point. But, for now, here are eight killer tips that can increase your chances of getting a “yes.”
First, lay the ground work. Improve your standing in the workplace by not only doing your own work, but by helping with other tasks. In particular, see if you can do any problem-solving for a future role you might want. Never say “That’s not my job.”
Do PR for yourself. In other words keep track of things like how you helped increase revenue or reduced the time it takes teams to complete projects. If you receive an award for outstanding work, that’s great. But even compliments from clients or higher-ups counts. Compile these and find non-obnoxious ways to make your boss aware of them.
Third, set the stage: Long before you ask for a raise, ask for feedback on your current position and what they need from you and clearly communicate your goal of moving up in the company. Talk about the future to show you’re invested.
Fourth: Research average salaries for your position in your area. If you’re current pay is below average, that’s an opening. If it’s above, you’ll know you need to add value to get value.
Fifth, practice your pitch. This means out loud, in the mirror, or to someone you trust. But then, don’t just practice asking for more money. Also practice responding to various responses your boss may give you and be ready for those.
Sixth: time it right. Ideally you will ask for a raise soon after you’ve accomplished something noticeably helpful to the company. You don’t have to wait for your annual review. Also be sure it’s a day that your boss isn’t under undue stress that could make him or her feel negative in general.
Number 7: It’s about them, not you. When you make your case, remember that bosses kind of care about you but they really care about what YOU can do for the company. So don’t talk about how you need the money. Talk about why you DESERVE the money because of what you are doing for them.
And finally, have a graceful exit strategy. No, I don’t mean quitting if you don’t get what you want! Rather, if your boss says no to the raise, ask for SPECIFICS of what you need to do to earn a raise in the future and then ask to reconvene after a set number of months to see how you’re doing and revisit the idea of a raise.