How to Ask for a Salary Raise
Is your salary raise due since a long time? Is your boss not taking this matter seriously? If you think that you deserve a raise in your salary and you do not know how to ask for a salary raise or are nervous about it, then there are many ways to go about it. Instead of sitting back and waiting for a miracle to happen or looking for a new job, you need to find suitable ways to ask for a salary raise.
Tips for Asking for a Salary Raise
Following are some of the tips and strategies that will answer your question of how to ask for a raise.
Do a Research on the Salaries of Other People in your Field
Prior to asking to your boss about a salary raise, you need to do a proper research. This is the time to find out the common salaries which are given to the employees working at a similar post and field as of yours. Here you can find out if they are earning more or less than you. This can be done by first asking your coworkers about their wages. You should keep in mind that there are many people who will not be willing to tell you about their salaries.
Therefore, it is advised not to ask the current workers about their salaries as they will not reveal this information. It is better to ask those who are no longer in the company. There are also some published resources which provide information about salaries. They give an approximate median value for the salaries related to specific occupations according to the government data.
Find out the Amount Which You can Earn
It is significant to note that due to the impact of several factors such as experience and education, you wage might be different from the median values which are published on the online resources related to your field. Hence, you have to be realistic while expecting a certain amount of salary raise.
Here the factors that need to be considered include
- Number of years of experience in the particular field,
- Credentials and education and
- The time period for which you have been working for the particular company.
Another factor that can be considered is the location of your job because the small towns usually offer lesser pays than bigger ones.
Study About the Financial Situation of Your Company
You need to be very careful about the time period during which you are thinking of how to ask for a salary raise. Do not ask for it when you know that the company is going through a financial crisis or if there is a major uncertainty in the particular industry. Also, as an employee you know the financial health of the company very well and therefore you should not ask for a salary raise in such circumstances.
It is important to do research about the company in this regard too. This consists of looking for the financial reports of the company and studying the business news to have knowledge about the market trends and where your company stands.