How To Ask For A Pay RiseHow to ask for a raise and get the salary you deserve
It`s an oft-repeated question especially by new hires, "how to ask for a pay rise". Even old-timers in a company oftentimes have to wrestle with the processes involved in asking for a salary increase, particularly if it takes too long for them to get a raise. Employees can indeed be befuddled when it comes to adjustments in compensation. Companies or business, in general, have hard and fast policies on salary adjustments which come along after an annual performance appraisal. Yet, there are cases when an employee can get a substantial pay increase outside of these annual reviews. Obviously, it would be of great advantage to have that chance in addition to bagging a merit increase through regular performance reviews.
For both cases, the guideposts on how to ask for a pay rise dictate some strategic thinking. Professionals who have meticulously researched on ways to improve one`s chances at salary negotiations say that a sound strategy must be first crafted before meeting a manager or a superior to discuss the possibility of a salary adjustment. The formulation of this strategy should necessarily start from a thorough examination of one`s functions within the organization and their relevance to the business operations. Corollary to this is an in-depth examination of the skills and expertise required in the execution of such functions. An employee whose capabilities are fine-tuned to the specific job that he or she is holding will have a stronger leverage at a salary increase. This is a resounding justification for a raise, ably demonstrating that an employee is relevant to an organization. More so if it is demonstrated that one is only among a few within the company skilled in a specific function.
The processes involved on how to ask for a pay rise would thus require gathering of information relevant to the employee`s execution of his or her function. Specific accomplishments have to be documented; the more detailed the documentation, the better. Commendations from superiors or unsolicited thank-you letters from clients or customers are strong inputs in executing a strategy asking for a pay adjustment. Estimated cost savings as a result of projects that an employee initiated or undertook as part of a team are likewise valuable evidentiary material. Additionally, memorandums designating add-on responsibilities to an employee can be woven in to the justification for a salary increase.
Packaging all these inputs on how to ask for a pay rise will be critical to negotiating a raise in pay. There are many designs which can be followed to prepare the presentation materials. An e-book, "The Ultimate Guide to Salary Increase" is one best source of templates where the salient points can be incorporated for a pay-negotiation meeting. This e-book, available through the link at the bottom of this page, likewise provides well-thought strategies on how to ask for a pay rise. Various alternative strategies are included in this e-book which can equip an employee with the flexibility needed in order to address the varying conditions prevailing during a meeting for a salary increase.