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. Today we will conclude our series with the last step of preparation along with a sample challenge planner for you to use as a guideline.
Make the Ask
- Research the timing of your request. If your company has an annual budgeting process, make sure you’re requesting your raise before the next budget cycle begins. (Consider asking 4-6 weeks before the budgets are set.)
- If you work for a company that doesn’t do annual performance reviews (and raises), ask your supervisor for an opportunity to meet one-on-one to discuss your workload, performance, objectives, and compensation.
- Ask your box when would be a good time to discuss your responsibilities and compensation.
- Come up with a specific number in mind with your raise request. The average raise is between 1-5%. If you’re asking for more, be prepared to justify your number!
Completing the 14-Day Challenge
At the end of the 14 days, review your progress. Did you ask for your raise? Did you receive it? If not, what steps do you need to take to set yourself up to receive a raise the next time you ask?
If the answer to your raise request is “No,” recognize that “no now” is not “no forever.” See if you can schedule a time to revisit the topic in the future (say, three or six months from now) and ask for objectives and/or milestones to reach in the meantime.
And for the future — don’t wait until you’re ready to ask for a raise to communicate your accomplishments. Write up a short summary of a each major project when you finish it and email it to your boss. (And keep a copy for yourself in an accomplishments file.)
Look on Glassdoor or PayScale to see if I can find salary information for my specific company and job title.
Visualize success. Picture myself asking for — and securing — a raise.
Research how my company typically handles raises.
Write up an objective (factual, non-emotional) list of reasons for requesting a raise.
Prepare supporting documentation to make my raise request.
Create a goal list (overview of what I’m working on right now/impact on company) and goals for next year.
Make a list of three things that I’m willing to accept in lieu of a raise in case money isn’t an option.
Write out answers to 3-5 questions I may be asked when requesting a raise.
Create a list of my accomplishments over the last 12-18 months that makes me valuable.
Prepare an alternative if my raise request isn’t accepted. (Ask to revisit the issue in 3 months?)
Come up with a specific number for my raise request.
Get motivated — talk to someone I know who recently received a raise.
Practice asking for a raise for 25 minutes with a friend or colleague.
Today’s the day — Ask for the raise! Good luck!!