With the current economy and high inflation, it’s quite understandable that you are probably considering asking your boss for a raise. If you are about to take this step, you need a salary raise calculator to determine if it is the right time. Here are various factors to contemplate before a salary raise negotiation.
To make the process hassle-free, here is a list of the do’s and don’ts of negotiating a raise at work. Bear in mind that the only way to receive a raise in most companies is to ask for it.
DON’T do this during a salary raise negotiation:
1. Begging for a salary increase:
Simply begging your boss to increase your salary due to pressing bills is not going to work. Your boss does not run a charity institution. An example is stating things like, ‘I really need a raise, so I can afford a car‘.
2. Stating the duration you’ve spent at the firm: :
Unless it is company policy, length of time does not guarantee an increment in salary. Your current salary is not proportionate to your duration in the company. So if you were about to say, ‘I haven’t had a raise in years‘, delete that. The time spent must have been of immense benefit to the company.
3.Stating the wage difference between co-workers:
Having co-workers who you are more qualified than, being paid higher than you is a key reason to ask for a salary increase. However, if you just base your negotiation on the premise of an inappropriate wage gap between colleagues, this might appear as whining to your boss.
It might make your manager defensive, and this would stall negotiation. There are varying reasons and multiple criteria for salary offers during employment. Some firms pay foreign graduates more than others. Make sure that you can prove why you deserve the salary increase.
4. Accosting your boss:
A negotiation for a raise is not a corridor conversation. It is more appropriate to set a meeting with your boss, where both parties will be comfortable. This will enable your boss listen attentively to your points, and consider your propositions free of distractions.
5. Giving an ultimatum:
Even if you’re the best staff at the company, the ultimatum model would probably not work. Most bosses view this as an aggressive approach that reeks of disrespect. This includes mentioning that you are getting better job offers from other companies.
DO this during a salary raise negotiation:
1. Be Prepared:
Have you had to do other employees’ duties because your company downsized? Are you working extra hours? Have you completed a project that led to huge benefits for your company? Write it down.
In this economic climate, no firm wants to dole out cash. You have to convince your boss that giving you a raise or promotion will further business interests. Make a list of all your accomplishments.
2.Pick an appropriate time:
The aim is for your boss to be completely at ease with you. The perfect time for a salary negotiation meeting is when the company affairs are going smoothly or even better than before. A good time for you is after you’ve excelled on a project or taken on extra duties.
3.Be open to other options:
After stating what you wish to be paid (make sure you research what people in your position get paid), your boss might explain certain company policies that inhibit achieving this. Be willing to accept other benefits and perks. There will be another opportunity to broach the topic of a raise.
At some point in your career, you’ll need to ask for a raise. A salary raise calculator makes it hassle-free. A salary raise negotiation can be a delicate process and with the help of these tips, it will be successful.
What do you think? Let us know in the comments.
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