Do you believe you deserve more money to compensate for the work that you do? If that’s the case, you’ve likely stressed about the idea of asking your boss for more money, especially if there isn’t any being handed out.
Asking for a pay raise is not an easy conversation to have. How do you ask for more money and what would happen if your boss says no? You don’t want to have that uncomfortable conversation.
If you deserve to have a bigger paycheque for the work you do, then you want to take charge of the situation. A manager is more likely to respect the fact that you took the time and courage to come and talk with him or her, rather than sitting back and doing nothing.
To help you get past the nerves and ask your boss for a raise, CBS-CBS.com has a few tips to help you out.
Know Your Worth
If you’re going into a meeting to talk about money and your value to the company, you should know what you’re worth. If you cannot back up your request for more money, it will be hard for your manager to agree with you. Do the research beforehand to prepare yourself so that you can confidently say what you’re worth to the company.
Have a Number in Mind
Don’t leave it up to your manager to tell you how much your pay should increase. That should come from you. After your research, you should have a number in mind as to what you want to make hourly or yearly. Be fair to yourself and the organization though.
Practice Negotiating
There is a good chance you’ll have to do a bit of negotiating with your boss. If he or she doesn’t want to give you your exact number, that doesn’t necessarily mean you’re not worth that to the company. It could be that the company can only afford so much. However, don’t let that stop you from negotiating a fair price. So, practice ahead of time with someone who can ask the tough questions.
Express How You Feel Working There
Want to help your case out more? Explain to your boss while you genuinely enjoy the company and are happy to come to work every day. By letting your boss know that you’re satisfied with your job, it can reassure them that you’re a valuable employee that is loyal to the company.
State Your Case Confidently
Be confident when approaching the topic of money. If you’ve done your research beforehand, you should have a valid reason as to why you deserve a pay raise.
Explain to your boss the situation clearly. It could be that your workload increased as the company continues to grow. Maybe you’re struggling financially at home and the extra dollar an hour will help you pay your bills on time.
Although you should be honest with your boss, don’t guilt him or her into giving you a raise. That could make the situation worse in the end.
Asking for a pay raise is not an easy conversation to have. However, if you can gather the information, be confident in your decision, and thoroughly explain why you deserve the increase, you have a better chance of being successful.