Sometimes in a job, you don’t get compensated fairly for the amount of time and effort that you put into your work. One remedy for this is asking for higher pay.
But the truth of the matter is that many people never ask their employer for a raise because they’re fearful of hearing “no” or they don’t know how to present their case. However, a recent study disproved this common fear when it showed that those who spoke up and asked had a 70% success rate in receiving greater compensation.
If you want a bigger paycheck for the hard work you put in, here are 5 things you should do before asking for a raise to increase your chances of success.
1. Reflect On Your Reasoning
Why do you deserve higher pay? Before you can ask for more, you need to know what you need and why you deserve it. Don’t just ask for a raise without thinking through whether you’re qualified to earn one.
2. Prepare Your Evidence
If you’ve been loyal to your company for a long period of time, note exactly how long you’ve been working there. If you have a wealth of vacation days that you haven’t used out of dedication to your job, be sure to have that information tucked away in your back pocket. Make sure that you have all the evidence you need to prove that you should get the raise you’re asking for.
3. Set a Number
In the flurry of preparation, it can be easy to forget to figure out how much you want to be earning. Don’t be afraid to be specific to the amount that you feel like you should be earning in return for your hard work. You will likely need to negotiate this number, so take a mental note of the lowest amount that you would settle for before you have to come to a decision.
4. Practice a Pitch
Practice in the car. Practice in the bathroom mirror. Practice with a friend. You’ll be much more likely to be clear and articulate if you take the time to practice your pitch ahead of time. That way, you’re not thrown off by the moment and you don’t forget any part of what you wanted to say.
5. Set Up a Meeting
Asking for a raise is not something that you should spring on your boss mid-conversation. Set up a one-on-one meeting with your employer to show your intentionality in asking for higher pay. This is also more respectful of your employer’s time so that they don’t give too hasty of an answer or get distracted from their own work. It’s always polite to schedule ahead.
