If you are considering asking for a raise in 2021, good for you. However, make sure you prepare in advance to increase your chances of successfully getting a raise. Discussing money is taboo in our culture. A significant reason why many people do not negotiate salary is that they feel discomfort in asking for more money. The key to getting a raise is preparing for the conversation, asking at the right time, and being able to justify the raise with data.
Getting Ready for the Conversation
Make sure that you prepare well before you ask for a raise. Your manager will be expecting you to prove why you deserve a raise, so be prepared to do so. Build your case by looking back to recent projects where you went well beyond expectations and proved your value to your company. Try to use specific performance data if possible. It is crucial that you understand your value. Use a salary estimator to get an idea of the raise amount. Not only will a salary estimator let you know if your wages are fair, but it can also give you a concrete number to present to your boss when it is time to negotiate.
The Best Time to Ask
Doing your research before you ask for a raise is essential and knowing when to ask for it is just as important. Try to avoid asking during budget planning time. An annual performance review is a prime time to ask for a raise. Not only is this a natural time to ask for a raise, your manager probably expects it during this review. If you have just completed an important task for the company or you are demonstrating excellent work, it is a great time to ask for a raise. Do not ask for a raise during a hectic time at work. Let things settle down, then see your boss.
How to Ask
Create a plan about what you are going to say during the meeting with your supervisor. There is no need for a script, but you must be specific in the delivery. Be clear and mention your desired salary amount while explaining how you came to this conclusion. Do not forget to specify when you would like the new salary to be effective, as well as any other vital details.
Justifying Your Raise
Specific examples of your excellent work will help you justify asking for a raise. Be sure to use specific and recent examples of your work to demonstrate your value to the organization. Of course, being able to quantify your value with data, awards, and accolades will help you establish your value more tangibly. Logically present your case and use tact when answering your manager’s questions.
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