A survey of 1,138 people conducted by SoFi last August found that more than 50% of employees wanted a raise at their places of work, but only 33 percent were planning on explicitly asking for one.
While confidently asking for more money at work is not natural for most people, another contributing factor to this fear is simply not knowing how to ask.
As with everything else, preparation is key when it comes to demanding a raise. Here are a few things you need to keep in mind before taking the big leap!
Know your goal and your audience:
Before you even begin preparing to ask for a raise, make sure you know exactly what you are hoping to achieve. What is that ideal outcome that will make the conversation worth it? What is so important to you in your job and career? Remember, the goal is to convey to your employer that you’re a diligent employee who wants to do a good job, not just take home more money.
Do your research:
When you deliver factual information to your employer, your appeal will automatically stand a higher chance of getting considered. Get a proper understanding of how your job is compensated at other companies within your industry, assess where you stand on the scale, and highlight exactly where you want to be. Most importantly, be sure that you have enough information to back up any and all claims.
Managers are typically unable to keep track of their employee’s accomplishments, especially at larger companies. Alongside your researched facts, feel free to bring any tangible proof of your great performance at the office. This can include a record of your achievements, copies of any congratulatory emails, or a thank you note that your colleagues, clients and/or supervisors have personally sent to you.
Practice, practice, practice!
The last thing you want to do in front of your boss is stutter and mumble while presenting your pitch. As with most things in life, practice definitely makes perfect!
Before you walk into that office, make sure you’ve taken out enough time to go over everything you have to say.
Don’t be afraid to seek honest feedback from your trusted friends or work advisor.