Asking your boss for a raise or a promotion is potentially a big step in your career. However, it can also be very uncomfortable. Here is a short guide to help you approach the process of asking for a raise or a promotion.
1. Do Some Journaling
As we’ve noted, asking for a raise or promotion can be uncomfortable. After all, many of us are not confident when discussing things like money. If you fit this description, changing your mindset about money is essential.
Why are you uncomfortable discussing it? A practical strategy for getting to the bottom of this question can be to do some journaling. This can help you uncover and begin to face any fears. Confidence in this conversation is essential, and you will want to get to the bottom of any reservations you have.
2. Take Time to Evaluate Your Work
If you want to convince your boss that you deserve a raise, you must first ensure you have thoroughly convinced yourself. You are hopefully keeping track of your work accomplishments. If not, begin making a list and review them. Particularly note times that you have improved the efficiency, outcomes, or fiscal strength of your company or times where your particular skills have been indispensable.
Reflecting on your achievements will have two significant benefits. First, you can boost your confidence by asking for a raise or promotion. Secondly, you will be able to begin to formulate the argument and evidence that you will give to your boss for asking about a raise.
3. Do Your Research
It would be best if you spent some time doing your research to enhance the likelihood of a successful task. Too often, people skip this step and enter a conversation unprepared for questions. It would be best if you benchmarked your current salary against the market, particularly for people with similar experience and education. This is key for making the case that you deserve more.
However, your research should not just be external but also internal. You need to understand the process for getting a raise in your own company. Typically, conversations around pay occur during the annual performance evaluation process. Knowing your company’s fiscal cycle and budget-setting timelines will help you broach this subject appropriately.
4. Practice Ahead of Time
You don’t want to go into a meeting cold. Be sure to practice your pitch ahead of time. Pulling out your phone and recording yourself is a great way to do this. This can help you to assess how you look and how you sound. In particular, pay close attention to your words and tone of voice.
Another thing to consider is the time. You want to provide a cohesive argument but not be long-winded. Your initial entry into the conversation should be no more than a few minutes at most. Be succinct in highlighting your purpose and the major points in support of asking for a raise.
Final Thoughts
You must realize the reason for asking for a raise is not because your colleagues earn more money but that you are worth it! Prepare for the conversation by jotting down your key, quantifiable accomplishments. You could even opt to provide your boss with a written summary.
Remember to manage expectations as well. It is improbable that you will get an answer on the spot. Your boss may need to check on some things before continuing the conversation. Be prepared to negotiate but accept that the answer may be no, mainly if the company is not in the best fiscal situation.
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