Let’s face it, asking for a raise can be nerve-racking. At the end of the day, just remember the worst he or she can say is no. Here’s how to go in with a plan.
First, Know Your Worth
Thanks to various websites, it’s easier to know what someone in your position and location typically earns. Websites such as Glassdoor and Payscale list what positions typically earn in your area. Look at companies that are similar in size to yours to get the most accurate salary information.
Explain Your Worth
Have you done something that’s gotten you recognized both internally and externally? Explaining why you deserve a raise is the most important thing you can do. Your boss is most likely going to ask you why you think you should get a raise, so having an answer prepared is a must.
Consider talking with a family member or friend who can provide you with feedback to how you’re going to ask your boss for a raise. They might be able to give you a few pointers on what to do and what to avoid.
Consider the Timing
If your company is going through a loss of business or a project launch, that’s probably not the time to ask for raise. Wait until a less stressful or busy time to discuss your potential worth and options.
If your boss says no to more money, would you be willing to ask for more vacation days or flexible hours? This may cost less for companies to offer, so they may be able to give you these perks if you ask. Consider what your alternatives will be if your boss decides not to give you more than an annual increase.