Prepping the Ask: How Much of a Raise Should I Ask For
Prepping the Ask: How Much of a Raise Should I Ask For
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How Much of a Raise Should I Ask For?
Ask for 5- 10% If...If your job sector has a more traditional raise structure and they are not based on merit, try to push that national average from 3% to something between 5% and 10% to account for the cost of living, inflation, and other economic changes.
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How Much of a Raise Should I Ask For?
Ask for 10-15% If...This is a "good" raise percent to aim for if you're already paid competitively for your job but you have continued to perform. And if you have some longevity at the company, you can definitely push for the higher end of this range. By asking for 10% to 15% more than your current salary, you're also leaving some room to negotiate.
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How Much of a Raise Should I Ask For?
Ask for 15- 25% If...You're paid competitively in your role but you have been an outstanding contributor. You might also ask for a raise between 15% and 25% if your role has taken on more responsibility but your job title didn't change. This is definitely a big jump for most companies and to get your boss to take it seriously,
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How Much of a Raise Should I Ask For?
you'll want lots of salary market data and clear examples of how your contributions have helped the company.
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How Much of a Raise Should I Ask For?
Pick Your Number If...You just found you're wildly underpaid compared to people in similar roles, you're interviewing for a new job, or you've moved into a new role and job title at the company. When you're making major career shifts, you want to consider your salary ask based on the market value of the job—not just taking your current
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How Much of a Raise Should I Ask For?
salary and adding a certain percent.
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When Should You Ask for a Raise?
The most common times for salary negotiations and asking for a raise are:– During your annual performance review– When you've exceeded your goals and job responsibilities– When your role has shifted (i.e., taking on new responsibilities)– When you're changing job titles within the company– When the market rate for
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When Should You Ask for a Raise?
your role doesn't match your current pay
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When Should You Ask for a Raise?
How Long Do You Need to Work at a Company Before You Ask for a Raise?In order to successfully ask for a raise, you will need to point to some job results. If you had those in your first three months, you don't have to wait, per se, but the safer strategy is to wait six to nine months before you start asking for pay increases.
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When Should You Ask for a Raise?
This minimum time frame allows you to establish a track record in your position and demonstrate the skills and qualities you bring to your job to your employer. But remember, you're more likely to get a raise after your first year.
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How to Ask for a Raise
It's important to ask for a specific salary raise, but in order to do that, you need to take into account your salary research, as well as other salary factors like inflation, location, and job performance.Once you have narrowed it down to a specific number that you can back up, pick your timing and prepare your boss with an email.
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How to Ask for a Raise
Once your meeting is set up to discuss your raise, practice your ask with a friend. It's great to have a test run before you're in front of your boss. And after you make your ask—be quiet. Let your boss consider the information and salary ask you've made. They will probably have their own next steps and process to go through.
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What to Do if Your Raise Is Denied
If you don't get a raise or it's much lower than expected, negotiate. My best advice is to take a day or two after you're been hit by this news to discuss it with your boss. Going in with a game plan and strategy is way more helpful than an emotionally-fueled conversation. Here are the steps to follow:
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What to Do if Your Raise Is Denied
Set Up a Meeting With Your BossLet's pretend you were hoping for a 10% raise but your boss came back at 6%. Take a few days to cool off and then schedule a 1:1 in-person or video meeting with your manager. Let them know you'd like to continue your salary discussions.
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What to Do if Your Raise Is Denied
Consider Your Counter-OfferYou asked for 10%, you're getting 6%. What number do you want to counter back at? Perhaps you would consider 8 or 9%.Own Your AccomplishmentsWhen you start the conversation with your boss, be confident and own your accomplishments.
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What to Do if Your Raise Is Denied
Stay ProfessionalIt can be enticing to threaten, mention that you know a coworker got a higher raise, or yell that John is paid more but he does nothing. Keep the focus on yourself.Follow UpWhen you leave your negotiation conversation, what are the next steps? When will you hear back from your boss?
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What to Do if Your Raise Is Denied
Get them to voice what they plan to do and follow up to make it happen.If they tell you in the conversation that for whatever reasons the company can't meet your request, ask about the future. Can you touch base in six months about another raise? Are there perks, benefits, or bonuses you can get?
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Know When It's Time to Walk Away
If you've tried to negotiate a raise but you're getting nowhere or you're already unhappy in your toxic work culture, then consider launching a job search. It's true that job-hopping is one of the best ways to increase your salary by much larger percentages. However—beware.The grass is not going to be greener—it will just be
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Know When It's Time to Walk Away
different. Do your job search prep work to avoid dysfunctional work cultures in addition to knowing the salary expectations you would have for a new role.