It's Time for Me to Get a Raise!
It’s time for me to get a raise!
It’s a new year, you’re feeling great and you have done a great job at work. You know you’re a top performer and want to be rewarded for your skills. Well, it’s time to take the bull by the horns and ask for that raise. Below are some tips on how to get ready for this challenge.
5 things you can do to prepare to ask for a raise
- Know what you are worth: There is a great site called Glassdoor.com that can help you figure out what employers are paying people who have similar credentials to yours.
- It’s all about timing: Make your request for a raise at the time of year when your employer evaluates its employees’ job performance. That’s typically at the end of the 4th quarter or the beginning of the first.
- No shame is changing jobs: Leaving your current job typically gives you a salary bump of 10 to 20 percent, compared to an average raise of 3 percent, according to business management consultants Towers Watson. To maximize your talent, it’s best to switch jobs every three to four years, if possible.
- Show that you’re wanted by getting another offer: You have to be willing to switch jobs if your current employer doesn’t want to match a competing job offer. You usually can only use that tactic once per employer.
- Time to show them why you deserve a raise: Whether you’ve boosted sales, increased the company’s social media presence, or identified a new market, document how you’ve added value to your company’s bottom line.
In the end, it’s all about knowing what you’re worth and believing it. It’s one thing to do all the background work, looking yourself in the mirror, and practicing your speech on why you should get a raise. It’s another to actually take action. It’s time for you to man or woman up – go to your boss and say I’m a hard worker, I’ve added value to the corporate bottom line, and I deserve a raise!
P.S. If you’re, in fact, not a hard worker and really don’t deserve a raise, well, this strategy is probably not for you. If you try these steps, it’s going to be a quick trip to the unemployment line for you.