March 21, 2022
How to ask for a raise? 4 Factors You Need to Know
Asking for a raise represents a big challenge for many people. The doubts and the lack of experience can work against many young professionals. The situation gets even more difficult if the manager or person in charge doesn’t usually agrees to give a raise. Don’t get discouraged! It can seem like a difficult task, but is not impossible to get it if you have a good performance at work.
At T2W we have more than 25 years of experience in the world of Human Resources and people management. We can help you with such an important situation. If you don’t know how to ask for a raise, here we tell you how to do it correctly.
How to ask for a salary raise?
1. Have a specific figure in mind
A common mistake people make when it comes to asking for a salary raise is do it without giving the manager the specific figure they would like to receive. This usually happens because they are afraid of asking too much. That’s a big mistake! It is likely that, if you receive the raise, it won’t be the amount you expected or needed. The worst part is that you will have to wait for a long time before asking for a raise again. There lies the importance of having a specific number in mind. However, you shouldn’t give just any amount you would like. It has to be a realistic figure. How to know how much to ask for a raise?
In order to know the right amount, you need to do a little research about the average salaries in the market. Don’t worry, it’s very simple information. Check how much other professionals are earning in other organizations for the same position you have.
While investigating the salaries, it’s better to check only positions in companies that are in the same field your organization is. That is because salaries can change significantly in each industry. Keep the amount you’ll ask close to your company’s reality.
2. Support your request with a good performance
While asking for a raise, there is a factor that will always be on your favor: having a good performance at work. That makes the raise not just something you deserve, but a logical conclusion. So, before thinking about approaching the manager, you need to work harder in your daily tasks and, if possible, surpass the goals set for your position.
If your performance is already good, then you need to present prove of the quality of your work and the best way to do it is achieving positive results for the organization. Gather statistics, documents and other detail that show how your work offers value to the company. Also, have a list of the acknowledgments and recognitions you have received from supervisors for your good performance.
It is also possible that the responsibilities of your position increase over time. If your performance is good with that high workload, that is another factor that will be on your favor. In that case, you just have to say that you are perfectly capable of handling those additional responsibilities and that you are happy to do it, but you also need to be compensated accordingly.
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3. Ask the raise at the right time
Now, when it comes to asking for a raise at work, identifying the right moment will be the key aspect that makes a big different in the answer you receive. It may be difficult, but you need to wait until the moment your company goes through is the right one and know how to recognize it.
When to ask for a raise? To start, the company’s economy has to be healthy. That guarantees you that the organization will have enough funds to give you the raise. Also, when things are going well, the environment at work changes: it becomes more relaxed and positive. That is the perfect time to ask for a raise.
But don’t just pay attention to the circumstances the company is going through. You need to consider also the situation you are in. As we already said, you have to support your request with a good performance. With that in mind, a good moment to ask for a raise is when you have just successfully finished an important or difficult project.
4. Be always polite and professional
It is always possible that, despite presenting a strong case for the raise, the answer you get is a negative one. That refusal might be difficult to deal with, but you need to be polite and professional at all times. Don’t show any signs of discomfort or anger.
Keep in mind that, despite that refusal, it does not mean that you won’t get the raise further on. There will always be a next opportunity and the respect you show will make thing easier for the future.
Now you know how to ask for a raise correctly. Take all these factors into account and your chances will be higher. With a little planning and effort, you will receive the raise you deserve.
At Talent2Win, we strive to align your company’s business objectives with the best Talent Acquisition strategies available. If you want to learn more about the services we offer, do not hesitate to contact us.