Asking for more money is always tricky. You have to have all your facts straight if you were to stand any chance of getting paid more money. Use the tips below as a guide when you want to have the big talk with your boss.
Ask yourself if your skills are in demand. Look at your job role very carefully. Do you have a job that is fairly difficult to fill? Are your skills scarce? Is your job quite complex? Will training someone else take a long time? Or is it the complete opposite? If your job is quite involved and your skills are quite specialised, it will be far more difficult to replace your and you might have more of an advantage. Your company will value your skills and you might prove to be more valuable to the business. Convincing your manager that you should be earning more money might be easier if you present this argument to them, along with other points that prove your hard work.
Do you have a valid reason for asking for a raise? Your reason has to be great for your sales pitch to work. Have you researched the market and compared your salary to others? Are you underpaid compared to people who have the same amount of experience and skills as you? Do you do more than what is required of you on a regular basis? Do you deliver better results than your colleagues, but get paid less? Have you recently obtained a new skill that helped your department or company perform better or exceed targets? Have you recently taken on more responsibility because of someone else leaving the company? These are all valid reasons for wanting an increase in your salary.
Always provide facts. When meeting with your manager to discuss your salary, you have to provide solid reasons and facts for wanting more money. Just because your colleague is earning more than you, doesn’t meant that you qualify for more money as well. They might have more qualification, more responsibilities and more experience than you. Rather do your own research. Find out what the market-related salary is for someone with your experience and skills. Look for reliable and trustworthy salary surveys and salary tools for your sector and see how your pay compares.
Think about inflation as well – has the cost of living, transport, rates or interest rates significantly increased? Have you obtained new skills that have helped the company to develop and boost ROI? Take all of these factors into consideration when discussing remuneration. Your manager needs facts and proof to understand why you think you deserve a raise.
Think of what your next step will be if the answer is “no”. If your manager still doesn’t think you deserve a raise, what will your next steps be? How much does the money mean to you? Are you willing to leave the company if you don’t get a pay increase or are you willing to give your manager some time to arrange for an increase in your pay check?
Once you’ve properly prepared for your talk, set up a meeting. Don’t spring the talk on your manager. Arrange a meeting with him or her and inform them as to what the meeting is about. That way you’ll both have a clear indication of what the talk is about and can prepare accordingly.
Be professional. This isn’t a casual chat. Be professional and start on a positive note. Talk about your hard work and how much you enjoy your job. Then discuss how much your workload has increased, but your salary has not. Talk about your performance and how well you’ve coped, even with the added responsibilities. If you manager says that they would like some time to think about it, simply follow up at a later stage.
The follow-up. After a week or two, follow up with your manager and ask if they’ve made a decision yet. If they’ve decided not to, ask what you could do to change their mind. Whatever the answer, it’s up to you to decide whether or not you are happy with the outcome and of it’s worth staying at the company.
Build a career you can be proud of – register your profile on Careers24 and apply to quality jobs in just a few easy steps.
More than just a job site, Careers24.com.ng is rich with free tools and resources such as helpful career advice, a fast, easy-to-use mobi site, instant CV creation tools, and Job Alerts that will send vacancies straight to your inbox.