Asking for a raise can be scary! You don’t want to upset or offend your manager. You don’t want to come off as entitled or demanding. But, it’s a fine line to walk because you do want to be compensated fairly. And, your salary has a snowball effect. Once you get a raise, you will be putting more money into your retirement, you will be worth more in future positions, etc. Don’t leave that money on the table! Don’t be afraid to ask for a salary increase if you deserve one! But, how do you ask for a raise in the right way?
First, make a list of all the job responsibilities you started your position managing. Then, make a list of how you have improved those processes and provide measureable accomplishments for each item. Then, make a list of new responsibilities you have taken on since you started in your role. List all your measurable revenue you have generated, cost savings to the company, etc. Based on this list of accomplishments, do you believe you deserve to make more money than when you started?
If you sincerely believe you do deserve a raise, do some market research. Look on Glassdoor or other job sites and see what other comparable positions are paying. Come up with a number of what you think you deserve to get paid. Be fair when you come up with this number. Don’t ask for a ridiculous raise, ask for a fair raise. Don’t think of the pay increase as greedy or demanding, think of it as recognition for how you are contributing at a higher level than when your salary was set.
Finally, once you have a list in hand, and a number in your head, schedule a meeting with your boss. The best time to ask for a raise is during an annual performance review, but it’s also okay to ask outside of that window. Treat this meeting like an interview. Dress professionally, speak eloquently, and really be prepared to sell yourself. Keep in mind that managers do value loyalty, so don’t go in to the meeting threatening to leave. That is the wrong approach to take. Go in to the meeting saying how much you enjoy your job, and how you are eager to move up in the company. Keep your request short and to the point. Make sure to keep it upbeat and positive to control the atmosphere.
You can say something like, “I’m really enjoying the new responsibilities I’ve taken on, like (example) and (example). As you can see, I’ve successfully exceeded the goals we set in those areas and received a lot of great feedback. Can we talk about adjusting my salary to reflect these additional responsibilities I have taken on?” Then, let your boss lead the conversation after that. If you are told no, ask your manager what you can do to earn a raise. A good manager will provide you with examples and coach you on how to earn a raise. Know that you have nothing to lose by asking for a raise and so much to gain. Just by showing initiative to ask in the right way, you will at least gain respect. And, your manager will without a doubt keep you in mind during future salary increases.