How to Ask for a Raise
- Jackie Vermeulen
- Jun 9, 2016
- 3 min read
“Please, sir, I want some more.” Feeling like Oliver Twist? Well you’re probably getting ready to ask for a raise.
Few people find asking for a raise to be a piece of cake (or an extra bowl of gruel, for that matter), meaning you’re not alone if the thought makes you a little sick to your stomach.
Wait a moment. What’s the noise? Squeak, squeak, squeak. It’s the squeaky wheel coming along, making mangers’ heads turn. The most well-compensated executives understand the "squeaky wheel always gets the grease" when it comes to asking for more compensation. You’re not going to get that raise if you don’t speak up, and no one will know that you feel you deserve more if you don’t make some noise about your concerns—if they are defendable. That’s the only way you’ll find the higher-ups saying, “Can we get some WD40 and more money in here?”
Like most things in your career—and life for that matter—thorough preparation is the key to success. Before scheduling that challenging meeting with your manager, ask yourself:
1. What value have you created for the company over the last several months?
Focus on tangible examples showing how you personally contributed to the outcome. Pick three or four good examples, and be sure to show bottom line impact, wherever possible, and use near term examples if available.
2. What unique experience and skillsets do you have to differentiate yourself from your peers?
Have you learned a new skill which you are leveraging to create value? If you went back to school to learn French, and your company is valuing that new skillset, then call it out!
3. What career aspirations are you working toward?
Maybe a higher level job, broader assignment, etc. This will help steer the conversation in a positive direction and reinforce your commitment to the company and furthering your career.
4. Can you benchmark this job using publicly available information?
There are several sites which provide free information on salaries for jobs by regions of the country. Can’t argue with the facts.
5. What increase do you honestly believe you are entitled to?
Determine this value based on what you answered above. Go into any negotiation with a reasonable request—a little on the high side—allowing room for further discussion.
Truth time: if you’re feeling meh after answering these questions, it might not be a great time to ask for a raise. If you don’t see anything incredibly deserving, don’t expect your manager—or HR who has the final approval—to see it either.
Feeling good? Summarize the considerations in a short presentation with a focus on giving a few good examples while being fact based and concise. This presentation will prove you put time and effort in this important subject. Plus, you will be able to lean on it in the event you are nervous. If you have a close friend or mentor, it is always good to bounce your thoughts off that person so they can give you their insight first. Schedule the meeting several days in advance; a drop-by meeting rarely works for serious discussions with your manager. (A story for another time.) Answer these questions, create your presentation, and schedule your meeting. Remember: proof, preparation, and presentation is the key to success when asking for a raise.
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Jackie Vermeulen is the founder of The Career Mint. She is the messenger (put the gun down, you!), working closely with the mentors and some off-site experts to address the hard-hitting career topics in articles like the one you’re reading now.
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