After the end of every financial year, we all expect a pay rise from our organization. You are also not an exception to this fact. Do you? I don’t think so. We all need increments and salary hikes and raises in pay for a better standard of living. “ How to ask for a pay rise”? It is the most challenging question you often encounter in your career.
Now the most challenging part is how to convince your boss for a salary hike. You can get a hike in your salary if you follow some simple but quite effective steps. The time of asking for a hike plays a crucial role here.
How To Ask For A Pay Rise: Top Tips To Follow
It is your right to ask for a salary hike. The billion-dollar question is how to ask for a pay rise. You need to follow some of the crucial steps that can make things easier and more effective for you in the long run.
1. Wait For The Right Time
After the performance review cycle, most of the organizations revisit the salary of their employees. Depending on your performance, you will become eligible for a raise or a promotion. However, some organizations do not pay any attention to the pay rise of the employees.
How to ask for a pat rise in such a situation is a billion-dollar question that you need to address. You cannot just ask for a hike.
There is a process and a way to ask for a hike. Otherwise, chances are that you have to sign the resignation letter. If you want to get a hike you have to convince your manager about the efforts and hard work you put in the workplace.
2. Know Your Work & Its Worth
The current market rate for the location and the job title. You need to identify this fact if you want a salary hike. Huge differences in the salaries can be there depending on the geographical location you work.
If you find clear evidence that you are underpaid, then your job will become easier to raise your pay. You need to be well aware of the market rates for the similar position in which you are working.
3. Make Use Of Emotional Intelligence
How to ask for a pay rise will not be a matter of concern if you use your emotional intelligence. Select the correct time to ask for your rise in pay. If you have recently achieved a milestone or completed the target, then it is the right time to ask for a hike.
Your EQ can play a vital role in getting a considerable hike in your salary. Make use of friendly relations and past accomplishments you have undergone with your manager. It is one of the vital options you can use for a salary hike.
4. Build Your Point
Before you ask for a pay hike, you must build your point constructively. Show evidence of your right for a hike both performance-wise and industry-wise. Touch upon the legitimate reasons and show why you are important for your company.
Show your manager how your responsibilities have increased over the past few years. How have you overcome various challenges in the past? You need to get through the crucial points to have a better chance of getting a hike.
5. Get What You Deserve
You will get what you deserve once you have the right reasons to justify your pay raise. Try to make use of both your EQ and IQ to convince your manager. It will become an added advantage for you in the long run.
You will get what you deserve once you have a proper plan and logic in place to justify your demand. Here, your negotiation and communication skills play a vital role in making things work well in your favor.
How To Ask For Increase In Salary In Email
You may follow certain tactics to increase your salary in Email. There are some factors you need to remember when you are requesting a hike in your salary via email.
- Select the right time for sending the email to your boss.
- Research industry salary standards for your position.
- Craft a subject line that is captivating enough to grab the attention of your manager.
- Address the right person to provide you with the hike you deserve.
- Express your gratitude and appreciation for the work opportunity you got.
- You can highlight your team collaboration skills to ask for a better position.
You can follow the mentioned points to ask for a salary hike using your email. Stay cautious while you demand a salary hike, as per the Simplilearn website as well.
How To Ask For A Salary Increase In Appraisal?
The employee benefit cost matters a lot, as per the Forbes report. At the time of appraisal, you have to follow certain Do’s and Dont’s while requesting a salary hike.
Do’s And Don’t you need to follow at the time of appraisal.
|Do’s At The Time Of Appraisal
|Dont’s At The Time Of Appraisal
|Reflect on your accomplishments and prepare yourself for the meeting.
|Do not go to an appraisal meeting without any preparation.
|Set SMART goals for yourself that you can achieve.
|Don’t become defensive if you receive any criticism.
|Pay close attention to the suggestions and feedback of your manager.
|Avoid comparing yourself excessively with others in the meeting.
|Ask for feedback from your manager before they end the meeting.
|Ignore focusing solely on problems and complaints.
|Show and highlight your achievements as well as your contribution to the company.
|Avoid bringing your personal issues at the time of appraisal.
How To Ask For A Raise When You Are Underpaid?
If you think you are underpaid for the job that you are performing in your organization, then prove your point with statistics and data. Highlight your achievements in the past performance for which you should be rewarded with a hike in your salary in the upcoming months.
Final Take Away
Remember, the appraisal is a collaborative conversation aimed at your professional development. It’s a chance to align your goals with those of the organization and create a plan for your future within the company. Approach it with a positive attitude and a willingness to grow and improve. Even your small mistakes can ruin your chances of getting a hike in your salary.