One of the best ways to boost your salary is to ask for a raise. But before you do, make sure you’re not setting yourself up for failure.
For years, I managed an information technology department and got to listen to employees ask for more money quite often. But, unfortunately, most of them did it wrong. Only about 20% of the employees who asked for raises got them throughout my career.
Are you actually underpaid? Know your value.
Before asking your boss for more money, spend some time researching salaries for similar positions in your area.
Also, keep in mind any additional responsibilities that you’ve taken on at work that will help boost your argument. Know what you are worth.
Pick the right time to talk to your boss.
Timing is everything. You will significantly improve your chances of getting the “yes” if you carefully pick the right opportunity to talk about a salary increase with your boss.
First, resist talking with your boss about a raise until you’ve been there for about a year. Asking too soon after hiring for more money could backfire.
Focus on your accomplishments
Focus on why you deserve a raise, not why you need a raise. You might be surprised at some of the things my staff would tell me that had nothing to do with their accomplishments at work.
To boost your chances of getting the “yes,” focus your argument on your performance at work. For example, did you save your company money over the past six months? Maybe you worked hundreds of hours of overtime over the last year on a big project?