No matter how valued you feel at work or how confident you are about your accomplishments and contributions, there are a very few among us who do not get cold feet at the thought of having that conversation with the boss. Yes, we are talking about that raise you have been eyeing for a while now.
Once you’ve made up your mind to take the plunge, you need to start preparing for the conversation. You cannot just drop the bomb. The following tips might help you have a smoother and more successful tête-à-tête with your boss and might actually earn you the raise you want:-
- Groundwork: Proper market research is an absolute necessity if you’re going to talk money. Look up job portals to know what other companies are offering for your qualification and level of experience.
- The time is now: Get ready to negotiate the moment you realize that you are worth more. You don’t necessarily need to wait till performance appraisal. At the same time, do not rush into it because if your first conversation on the matter goes sour, there is very little chance that your boss will want to discuss a raise with you in the future.
- Do not play the “or else” card: The moment you give your boss the hint that you have a better offer at hand which you are willing to take up if you don’t get the raise, or that you’re planning on quitting unless you get the wanted hike, you’ve dug your own grave. Not only does it come across as a threat (which it basically is, empty or not!) but it also lets your boss know that you’re already looking for other jobs and they might just start looking for your replacement.
- Intelligent inception: Plant the idea carefully. Ask your boss about your performance. If you’ve worked hard and got in results, they have noticed. All you need to do is get them to acknowledge your effort and admit that you are worth a raise.
- Talk money: If you’re asking for more money, make sure to elaborate on how you have aided your organization to make more money or save more money (without sounding pompous and blowing your own trumpet too much). Keeping it subtle might seem difficult in such a situation but stick to the numbers and they’ll speak for you.
- Dealing with denial: It’s not meant to be a cake-walk. Your boss might not agree about the fact that you deserve a raise. This is when actual negotiation comes in. You need to remember that you’re requesting and not demanding for something that you believe you are worth. Ask for valid reasons about why you must be denied a raise and what aspects you could improve to be eligible for one.
Getting a hike in salary or a “salary adjustment” might not take just one conversation. Don’t expect to go into your boss’ cabin and come out with additions to your pay cheque. Give it enough time to brew and follow up only when it looks like they’ve completely overlooked your request or are just keeping you on the hook. If you know that you deserve it, if you have been pushing your limits and if your efforts have been largely successful in quite a few projects, it’s time you asked for it!