After The Great Resignation of 2021-2022, many workers have not seen a raise in salary. According to ZipRecruiter’s Q3 Job Seeker Confidence Survey, just 27% of workers who stayed with their employer saw a pay increase. In comparison, those who switched jobs saw increases of anywhere from 10% to 20% or more. While times have been tough financially for many companies, inflation has caused many Americans to struggle as well. Employees are left to find jobs with higher salaries, often contributing to worker shortages.
However, according to a Lending Tree survey, 82% of workers who asked for a raise this year received one. So, instead of looking for work elsewhere, you should consider asking for a raise. Here are several goals you should meet before approaching them about your salary. Armed with this data, your employer is less likely to turn you down.
1. You’ve Had Several Positive Performance Reviews
Timing is everything when asking for a raise. Review season is a good time to ask for a raise if you’ve had a positive performance review. Has it been more than a year since your last raise and have you been performing at or above expectations? If so, asking during your review is appropriate.
2. You’ve Taken on More Responsibility
With many companies undergoing mergers and consolidation, employees are taking on larger roles, sometimes with no pay increase. If you have taken on the responsibilities of another role, it may be time to ask for a raise. Furthermore, if your boss has given you a special project or challenged you to take on leadership roles, they may be setting you up for a promotion or raise.
3. You’ve Exceeded Expectations
It’s a good idea to keep track of your major accomplishments throughout the year. This way when you ask for a raise you can provide tangible ways that you exceeded expectations and added value to the company. Utilize Key Performance Indicators (KPI) when you ask for a raise like increased profits for the company due to your work, improvement in systems and processes that increased efficiency, or successful projects you contributed to. This hard data makes it hard for your employer to say no to a raise.
4. You’ve Furthered Your Skills
Have you recently gained a professional certification or taken continuing education classes? The more education you possess, the more valuable you are to your employer. It’s important to talk to your boss about professional education that could benefit your current role. Lay out a plan for completing this education. Then, you can use your new skills as leverage to ask for a raise.
5. You Have Another Offer on The Table
Applying pressure to the situation may help you ask for a raise effectively. While you may not have any intention of leaving your current job, it may behoove you to send out your resume and network. Sometimes you need to prove your desirability to get a raise. If you have a strong offer from another company, your current employer may be quick to match it. Be careful with this tactic, you may need to go into a meeting with your supervisor prepared with market salary data to reinforce your need for a raise.
6. Your Colleagues Support You
Are you well respected in your office? Do co-workers look to you for guidance or support? If so, this is a good indicator that you should ask for a raise. When you ask for a raise, you may need to write a statement about why you deserve a raise and the percent increase you are requesting. This is often necessary for your boss to present to superiors. It’s not uncommon to ask for a statement of support from co-workers if you are asking for a raise or even a promotion. Companies reward team players so this will help your case.
How to Ask for a Raise
Once you’ve met these six goals, it’s time to schedule a meeting with your supervisor. Don’t expect an answer right away as your raise will need approval. If your request is denied, your boss should give you adequate reasons why. If not, it may be time to find another job.
Have you leveraged any of these tactics to negotiate a raise? Let us know how they worked for you in the comments.
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