Are you ready for a raise? Preparation is one of the most important factors in successfully requesting a raise. Getting the timing right, structuring the request, and justifying your raise are all components of a successful request for a raise. In part 2 of this 3 part series, we will look at a few of the actions you can take to help you prepare to ask for a raise.
Set Yourself Up For Success
- Get motivated — talk to someone who you know who recently received a raise. What were their fears and apprehensions? What went well for them? What would they have done differently?
- Visualize success. Picture yourself asking for — and securing — a raise.
- Prepare supporting documentation. When asking for a raise, provide written materials to back up your salary request. This can include salary data, previous performance evaluations, letters of recommendation, and a summary of work accomplishments and awards.
- Create a goal list. Write up an overview of what you’re working on right now (detailing the impact these efforts will have on the company in the near future) as well as your goals for the next year. What are your priorities and what will they contribute to the company?
- Write up a short summary of a major project you’ve recently completed and share it with your boss via email.
Practice Asking For a Raise
- Create a list of 5-10 questions you expect to be asked in response to your raise request. Questions can relate to your workload, performance, objectives, and/or compensation.
- Write out a script of your answers to questions you may be asked.
- Practice asking for a raise for 25 minutes with a friend or colleague.
- Think about what other things are important to you — besides money — when making a raise request. Would you be willing to trade a salary increase for the opportunity to work from home part-time? Or the ability to work a flexible schedule?
- Prepare an alternative if your raise request isn’t accepted. Would a one-time bonus be an option? Or perhaps an extra vacation day? Or the opportunity to take on additional responsibility (which may lead to a future raise)?
- Spend 15 minutes preparing to answer the key question: Why should we give you a raise?
- Record yourself asking for a raise and practice improving your presentation.
- Research the timing of raise requests within your company. If this is your first time asking for a raise, ask co-workers about how and when raise requests are typically made.
- Identify a class, workshop, training, certification, or degree you need to increase your value as an employee.
- Take an online class/workshop to improve a specific skill.
- Work on your confidence — your attitude plays a big part when asking for a raise.
Stay tuned to see what’s next!!