Our Managing Editor, Ashley Winters did some digging for those who are ready to step up and ask for that well-deserved raise you’ve been waiting for! We know salary negotiations for some can be a tedious and intimidating process, if you’re not sure on how to go about getting your paper. Recent studies have shown those in the 21-34-year-old age bracket have a hard time asking for a pay raise. Many are unsure of their worth. Fret no more, DELUX has done the leg work for you with these expert tips you are guaranteed to get that paper.
1. First thing first, use your skills and experience as leverage. Let your work do all the talking. If you have tangible receipts that show you are an asset, please show them. Trust actions speak louder than words. Bring a “brag sheet”.
2. Be enthusiastic! Go in knowing your time has come for a pay raise. Now don’t mistake this for being cocky or arrogant. Approach the meeting showing your upper management you are an asset, but also the company is a value to you as well. Think teamwork!
3. Do your research. Know the minimum and maximum salary range for your position and company. There is nothing worse than going in all proud and mighty, not knowing what you’re talking about. Don’t low ball or high ball yourself.
4. Organize your thoughts and have a speech prepared. Prep yourself for questions. Rehearse, rehearse, rehearse! Either with a friend or in the mirror. Rehearsing what you are going to say shows you are knowledgeable and prepared.
5. Make sure you’re ready for what comes next. A pay raise could also come with more responsibilities. Ask yourself are you ready?
6. It’s all about the timing. Experts suggest speaking with your boss 3-4 months before review season. That’s usually when upper heads review the company’s budget.
7. Accept or Decline! At some point, if the decision to accept a pay raise or not will come. Depending on the response, this be the straw that breaks the camel’s hump. Be prepared, and have a backup plan. In the event you are not taken seriously, have another job in place.
8. Set the meeting up on Thursday. Studies show you’re more likely to get the raise if you ask on a Thursday. Experts suggest later in the week because people become more flexible, and most are up for negotiation.
9. Focus on the future not the past. When asked about current pay, it’s ok to answer. Matter of fact, be honest. Give all details regarding your salary. This includes benefits, vacation, sick/personal time, bonuses, etc. Once you have answered, be sure to move the conversation forward explaining your new number. Focus on your new skills, market value, and how you’re looking to grow.
10. DON’T USE A RANGE! Ask for the number you want and be confident and firm when asking. Any hesitation on your part could cost you the extra bump you’re looking for.
11. DON’T EVER MENTION PERSONAL NEEDS. This includes discussing bills, rent, child care etc. Focus on your performance, worth, and achievements. Continue with the conversation by saying I’d like to review my compensation.
Remember, until you ask you won’t receive, so follow these helpful tips you will get the well deserve pay raise.