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Last Updated on December 3, 2019

The Savvy Employees Guide to Asking for a Raise

The Savvy Employees Guide to Asking for a Raise

“I know that if I work harder, my boss will notice and give me a raise.”

That’s what you tell yourself as you leave the office at 7 pm five days a week.

But, will your boss notice?

He might, but this will be a slow and painful process.

Most companies won’t go out of their way to notice great employees. It’s up to you to toot your own horn the right way.

I hate to break it to you. But, if you’ve worked at your position for over a year without a raise, you’re doing something wrong. Don’t worry, I’ve failed in the past and still continue to do so. Plus, asking for a raise isn’t easy.

It wasn’t that long ago when I was fresh out of college and clueless to how I’d negotiate my salary. Fortunately, I’d adopted habits that helped me get a raise. And, if these tactics have worked for me, I’m confident they’ll work for you too.

Ready to start making big bucks? If so, here’s your guide on how to ask for the raise you deserve.

1. Prepare Before Asking for a Raise

You’re feeling pumped. You’ve worked hard for over a year and know that you deserve a raise.

But, before you march into your boss’s office (or cubicle) do your homework. By this, I’m referring to doing some research on what your average salary is for your role.

Don’t overdo this–all you need is a ballpark estimate to what the average salary is in your industry. Go to sites like Glassdoor, Salary, and Payscale to get this information. Then type in your role or company name in their search bar.

Within a few minutes, you’ll have a rough idea for what you should be getting paid.

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Take a note for how big the gap is from the average salary and what you’re currently earning. If your salary is on the lower end, don’t worry, use this as your motivation to get paid better.

Be honest with yourself for what skills you’re offering to your employer. If you’re falling behind in any area, read a book or take a course to improve. Another option is to ask your boss for extra work to gain more experience.

Make it your priority to improve, so that you stay sharp with your skills.

2. Know the Value You Bring

If you’ve never negotiated your salary, I’m betting that it’ll be at the lower end of the industry average.

I know how frustrating this is because I’ve been there. I’d envy others who were getting paid more than I was–especially since I was working hard. But, having this type of mindset won’t do you any good.

If you’re unhappy with your current salary, it’s because you don’t know your worth. So, before you ask your boss for your raise, be clear on what value you bring to your employer.

To know where you stand, write down the relevant skills you bring to your team. For example, as a web designer, a valuable skill can be creating great logos. Write a list of 5 to 10 similar skills that can help you stand out.

Also, research what top skills are in demand for your current job and make improvements here. When you’re valuable, people will take notice. More importantly, knowing you’re valuable will help you negotiate your salary better.

3. Earn a Meeting with Your Boss

Do you get the “chills” randomly walking to your boss and asking for a raise?

You should because that’s a bad way to ask for something. Would you reach out to someone you’d met at a conference 6 months ago and out of the blue ask for a favor? I hope not.

They’d most likely turn you down. That’s because you haven’t earned the right to ask for a favor. Like this scenario, don’t randomly walk up to your boss asking for a raise.

Instead, work your way up. Ask your boss how he/she thinks you’re performing a few times each month. Then ask what’s needed for you to get a raise.

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Repeat this process until you’re confident with how to get a raise. This will put you in your boss’s mind when it’s time to give a raise.

4. Create Your Perfect Timing

Have you ever watched a movie where the character knew the perfect time to do something?

Take love stories for example, when the man knows the perfect time to ask a woman out. You hear the right music on the background during the perfect night. The reality is that in life, perfect times rarely exist.

This doesn’t mean that you should walk up to your boss tomorrow and ask for raise. Instead, be aware that the only perfect time that’ll exist is when you do your best to prepare.

Do some planning around where you’d ask your boss. If he/she travels a lot during certain months, avoid asking during this time. Pick a day and time that you know your boss will have the most availability.

Add a meeting to the calendar with your boss to discuss your promotion. This way you’ll avoid rushing and increase your odds at getting heard.

5. Increase Your Odds at Success Thinking like Your Boss

Knowing your customer doesn’t only apply for salespeople. The same concept applies to you–except think of your boss as your customer.

By doing this, you can expect what he/she will say to you. Then you can prepare for possible outcomes.

If your boss were to ask you why you deserve a raise, you wouldn’t fumble. You’d summarize 2 to 3 key points without hesitation.

Think of your top three possible scenarios based on what you know about your boss. Then record yourself discussing your top 3 scenarios.

6. Figure out Your Company’s Policies

Waiting each year for your raise is a huge mistake.

In case you’re wondering why–not all companies have the same policies for getting a raise. Some do a performance review on an annual basis, while others do so on a quarterly or semi-annual. To familiarize yourself with your company’s policies, check out their HR web portal.

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If you can’t find the answers you’re looking for, call your company’s HR department. Your goal should be to determine what’s the required timeframe to ask for a raise. Once you know this timeframe, you can prepare for the ask.

7. Level-Up Your Emotional Intelligence

Emotional intelligence is a skill you need to master.

Why?

The last thing you’d want to do is getting upset if you don’t end up getting the raise you’d hope for. This would only make your situation awkward and less likely to get a future promotion.

Mastering your emotions allows you to collaborate with others better–increasing your odds for success.

Daniel Goleman argues in his book Emotional Intelligence: Why It Can Matter More Than IQ that emotional intelligence is as important as your IQ. Research shows that people who manage their emotions better perform better at school. Emotionally intelligent people are socially skilled, able to empathize with others better.

Improving your emotional intelligence isn’t easy. But, changing the way you perceive failure and manage stress will help you improve.

To take failure less personal, view it as a learning opportunity. This will help you learn from your mistakes and avoid making them twice.

To better manage your stress, start meditating.

I bet that you’re thinking meditation isn’t for you. After all, you’re not a monk who sits quietly in a room for hours. Meditation isn’t only for the selected few–it’s for everyone.

Even if you don’t know how to meditate, you can learn from apps or online videos. By practicing meditation enough you’ll eventually reap its benefits. Here’s a 5-minute Guide to Meditation: Anywhere, Anytime.

8. Don’t Take Rejection Personally

You can be as prepared as possible and still fail. But, don’t take it personally.

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Often it’s because your company doesn’t have the budget to do so. While you can’t expect the unexpected, you can prepare for it. Here are some questions to ask yourself before you run off to your manager asking for a promotion:

  • How long can I hold off if I get rejected for a promotion?
  • How has my company been performing in the past year?
  • Do I deserve a promotion?

If you get rejected for a promotion, ask to revisit your performance within 3 to 6 months. Be sure to get details on what’s required to earn a promotion so that you can work towards it.

The worst case scenario is that your company isn’t willing to give you a promotion. If this is your scenario, find a way to escape this environment.

Bonus Tips

If you’re looking for extra tips to ask for a raise, this is a nice infographic to go through:[1]

    Get Paid the Money You Deserve

    Imagine waking up each morning excited to perform your best at your job.

    Your role didn’t change but for the first time, you felt heard by your manager. After 6 months of working hard, you got the raise you’d hoped for. The best part is that you didn’t have to stay in the office till 7 pm to earn it.

    I know you wish that this scenario was your reality. It wasn’t that long ago when I was earning a low salary and afraid to ask for what I deserved. But, after trial and error, I managed to get many raises and switch careers.

    Why am I telling you this? Because if I was able to get my raise, so can you. You’ll need to work harder than most people and make sacrifices along the way, but it’ll be worth the effort.

    Except for this time, you’ll be working hard in the right areas. Think of this post as your mini-blueprint to getting the raise you deserve. Be honest with yourself and focus on improving in the areas you’re weakest. Before you know it, one day you’ll wake up working in a job you love getting paid what you deserve.

    More Tips on Asking for a Raise and Promotion

    Featured photo credit: Amy Hirschi via unsplash.com

    Reference

    More by this author

    Christopher Alarcon

    Finance Analyst and Founder of the Financially Well Off Blog & Podcast

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    What Is Creativity? We All Have It, and Need It

    What Is Creativity? We All Have It, and Need It

    Do you think of yourself as a creative person? Do you play the drums or do watercolor paintings? Perhaps compose songs or direct plays? Can you even relate to any of these so called ‘creative’ experiences? Growing up, did you ever have that ‘artistic’ sibling or friend who excelled in drawing, playing instruments or literature? And you maybe wondered why you can’t even compose a birthday card greeting–or that drawing stick figures is the furthest you’ll ever get to drawing a family portrait. Many people have this common assumption that creativity is an inborn talent; only a special group of people are inherently creative, and everyone else just unfortunately does not have that special ability. You either have that creative flair or instinct, or you don’t. But, this is far from the truth! So what is creativity?

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    The fact is, that everyone has an innate creative ability. Despite what most people may think, creativity is a skill that everyone can learn and hone on. It’s a skill with huge leverage that allows you to generate enormous amounts of value from relatively little input. How is that so? You’ll have to start by expanding your definition of creativity. Ironically, you have to be creative and ‘think out of the box’ with the definition! Creativity at its heart, is being able to see things in a way that others cannot. It’s a skill that helps you find new perspectives to create new possibilities and solutions to different problems. So, if you encounter different challenges and problems that need solving on a regular basis, then creativity is an invaluable skill to have.Let’s say, for example, that you work in sales. Having creativity will help you to look for new ways to approach and reach out to potential customers. Or perhaps you’re a teacher. In this role you have to constantly look for new ways to deliver your message and educate your students.

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    How Creativity Works

    Let me break another misconception about creativity, which is that it’s only used to create completely “new” or “original” things. Again, this is far from the truth. Because nothing is ever completely new or original. Everything, including works of art, doesn’t come from nothing. Everything derives from some sort of inspiration. That means that creativity works by connecting things together in order to derive new meaning or value.From this perspective, you can see a lot of creativity in action. In technology, Apple combines traditional computers with design and aesthetics to create new ways to use digital products. In music, a musician may be inspired by various styles of music, instruments and rhythms to create an entirely new type of song. All of these examples are about connecting different ideas, finding common ground amongst the differences, and creating a completely new idea out of them.

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    Another misconception about the creative process is that you can just be in a general “creative” state. Real creativity isn’t about coming up with “eureka!” moments for random ideas. Instead, to be truly creative, you need to have a direction. You have to ask yourself this question: “What problem am I trying to solve?” Only by knowing the answer to this question can you start flexing your creativity muscles. Often times, the idea of creativity is associated with the ‘Right’ brain, with intuition and imagination. Hence a lot of focus is placed on the ‘Right’ brain when it comes to creativity. But, to get the most out of creativity, you need to utilize both sides of your brain–Right and Left–which means using the analytical and logical part of your brain, too. This may sound surprising to you, but creativity has a lot to do with problem solving. And, problem solving inherently involves logic and analysis. So instead of throwing out the ‘Left’ brain, full creativity needs them to work in unison. For example, when you’re looking for new ideas, your ‘Left’ brain will guide you to a place of focus, which is based on your objective behind the ideas you’re searching for. The ‘Right’ brain then guides you to gather and explore based on your current focus. And when you decide to try out these new ideas, your ‘Right’ brain will give you novel solutions outside of the ones you already know. Your ‘Left’ brain then helps you evaluate and tune the solutions to work better in practice. So, logic and creativity actually work hand in hand, and not one at the expense of the other.

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    Creativity Is a Skill

    At the end of the day, creativity is a skill. It’s not some innate or natural born talent that some have over others. What this means is that creativity and innovation can be practiced and improved upon systematically.A skill can be learned and practiced by applying your strongest learning styles. Want to know what your learning style is? Try this test. A skill can be measured and improved through a Feedback Loop, and can be continuously upgraded over time by regular practice. Through regular practice, your creativity goes through different stages of proficiency. This means that you can become more and more creative! If you never thought that creativity was relevant to you, or that you don’t have a knack for being creative… think again! You can use creativity in any aspect of your life. In fact you should use it, as it will allow you to to break through your usual loop, get you out of your comfort zone, and inspire you to grow and try new things. Creativity will definitely give you an edge when you’re trying to solve a problem or come up with new solutions.

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    Featured photo credit: rawpixel via unsplash.com

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