With inflation running rampant, you have a legitimate reason to ask your manager for a raise. Your salary may not be keeping pace with your living expenses. That said, it is best not to assume that you’ll get a raise just because of inflation, so take the time to prepare a plan before you ask for a raise.
To start, make sure you have a clear understanding of your worth and value to the company. This means doing your research and knowing what the market rate is for someone with your skills, experience, and responsibilities. You can use websites like Glassdoor and Salary.com to get an idea of what you should be making.
Next, come prepared with evidence of your achievements and contributions to the company. This could include things like project milestones you’ve reached, new clients you’ve brought on board or ways in which you’ve helped improve processes or increase profits. Having specific examples and data to back up your request will make it more compelling.
Finally, it’s important to approach the conversation with confidence and a positive attitude. Make sure you schedule a meeting with your manager or HR representative and come prepared with a clear, concise, and respectful request. Practice what you want to say beforehand. Be prepared to listen to their feedback and respond to any concerns they may have. Remember to thank them for considering your request, and be open to negotiating if necessary.
Research the market rate for your position and use that information to support your request.
9 Ways to Ask for and Get a Raise
1. Prepare a list of your achievements and contributions to the company, and be prepared to provide specific examples and data to back up your request.
2. Schedule a meeting with your manager or HR representative and come prepared with a clear, concise, and respectful request.
3. Practice what you want to say beforehand. Be prepared to listen to their feedback and respond to any concerns they may have. I ask my coaching clients to practice asking for a raise in front of their bathroom mirror. You might discover you get a bit uncomfortable and squirmy or suddenly develop a nervous tic. Practice until you are bored!
4. Emphasize the value you bring to the company and how a raise would benefit both you and the company.
5. Show a willingness to continue learning and growing in your role. Prepare to explain how a promotion would help you do that by providing a new challenge. Even if they don’t give you a raise, you could then negotiate getting some additional training or education, such as an MBA or leadership training course.
6. Demonstrate your loyalty to the company, and mention any extra positive publicity you’ve created for the company through your personal network and social media. Cite any articles you’ve written or events you’ve attended that show your enthusiasm, loyalty, and commitment to the company and the field.
7. Highlight any special skills or expertise you have that sets you apart from others in your position. Discuss how a raise would recognize and reward that.
8. Thank them for considering your request, and be open to negotiating if necessary. Would they be willing to reconsider your request in a few months?
9. Be patient and persistent, and be prepared to follow up on your request if you don’t succeed on your first attempt.
If all else fails and the company doesn’t value you sufficiently, then immediately and quietly start looking for another job. You don’t need to threaten to leave or storm off in a huff as this isn’t professional and won’t serve you in the long run. Instead, quietly start using the odd vacation day to go on interviews and find a new job. Or consider this an opportunity to switch careers altogether and find your true calling. Keep your current job as it is always easier to find a new job if you are currently employed. This goes with the laws of attraction: like attracts like. Unemployment tends to attract more of the same so don’t quit!