Who does not want a good salary increment? I wish there was a secret formula to get what you desired. But unfortunately there is none. Mostly managers know when it’s the right time to increase for a job well done. What if your salary hasn’t gone up in a while ? in this situation how will you ask for raising up your salary ? It’s always a tough conversation, and how do you prepare for it to make your manager say “Yes” easily ?
Here are few proven ways to get a good salary increment
1) Do your job well & go beyond the call of duty
Focus on doing your job well… really well. Have a clear understanding of the success measure and continuously work towards it. If you think, you need training or mentoring to be a better performer, ask your manager. There are occasions when the manager expects you to do more because it is the need of the hour. Do not shirk away from the responsibility. Actively take up tasks which are beyond what you have been allotted. At the end, the manager will not just look at your performance but also your hunger.
2) Be a Smart Worker
Be innovative at what you do. Hard work is important but smart work is better. Try to find out ways and means by which you can achieve the objective with much less effort. Share your ideas with the team to make the team better.
3) Keep learning
Technology is causing significant changes in the way we work. It is important to be up-to-date with the latest tools and techniques. Use after hours / weekends to do reading, learning and practicing the skill. If required, attend a course that will equip you for the next role.
Technology is causing significant changes in the way we work. It is important to be up-to-date with the latest tools and techniques. Use after hours / weekends to do reading, learning and practicing the skill. If required, attend a course that will equip you for the next role.
4) Note down your success stories
It is always a good idea to keep notes of what you did well and what you could have done better through the year. You can use this in your annual progress review to have a fact based discussion about your performance.
It is always a good idea to keep notes of what you did well and what you could have done better through the year. You can use this in your annual progress review to have a fact based discussion about your performance.
5) Know the job market
Have a good understanding of what your true worth is. Understand what other companies are paying for a role similar to yours. This information will be useful when you discuss your increment with your manager. It also ensures that you are not being un-reasonable with your expectations.
Have a good understanding of what your true worth is. Understand what other companies are paying for a role similar to yours. This information will be useful when you discuss your increment with your manager. It also ensures that you are not being un-reasonable with your expectations.
6) How to Ask For a Raise ?
Experts said that, It can be difficult to approach your manager for a raise. “But there’s an art to the ask,” says Diana Faison, a partner with leadership development firm Flynn Heath Holt Leadership. “You want to be able to demonstrate how you add value and how you’ve made a difference to the company.” And as in any type of negotiations, you should try to put yourself in the other person’s shoes, and design your approach accordingly. “You have to think about why your boss should even consider granting your request,” says Kathleen McGinn, professor of business administration at Harvard Business School. By understanding your boss’s interests and goals, and aligning those with your own case, you are more likely to get what you want. Here’s how to craft your request.
7) Gather evidence
Preparation is critical. “If you don’t prepare, you don’t know what you’re really asking for,” says Faison. Collect two types of evidence before making your request. First, and most important, are facts about your own unique contributions that bolster your case: money-saving efficiencies you implemented, results from a project you’ve just overseen, positive customer testimonials, or praise from higher ups. Your boss may not be aware of all you’ve accomplished over the past year. You should also gather information about company- and industry-wide salaries so you can go in with a reasonable target figure in mind. Your professional network, HR department, and sites like PayScale and GlassDoor are all helpful resources for determining your worth in the marketplace.
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8) Choose the right moment
Most people make their pitch at review time. But if your boss is overwhelmed by the pressure of completing everyone’s evaluations, he may be less inclined to grant your request. He may also already be constrained by a set budget. Instead, time your request to coincide with changes in your own tasks. McGinn advises asking for a raise just before you take on new responsibilities or right after you successfully complete a project. “If you’ve just created a whole bunch of value for your company, it’s a great time to say, ‘Can we share that value?’,” she explains. If your boss still doesn’t seem receptive, suggest revisiting the issue in a few months and then get on his calendar.
9) Practice ahead of time
It’s important to rehearse what you will say, and not just in your head, adds Faison. “Do it out loud, practice it with someone else, record yourself, and play it back.” Listen for weaknesses in your argument or signs that you aren’t getting to the point quickly enough. Make sure to consider the conversation from your boss’s point of view, imagine the varied reactions she might have, and plan your responses. “Really think about her interests and why she would even be interested in engaging,” advises McGinn.
7) Gather evidence
Preparation is critical. “If you don’t prepare, you don’t know what you’re really asking for,” says Faison. Collect two types of evidence before making your request. First, and most important, are facts about your own unique contributions that bolster your case: money-saving efficiencies you implemented, results from a project you’ve just overseen, positive customer testimonials, or praise from higher ups. Your boss may not be aware of all you’ve accomplished over the past year. You should also gather information about company- and industry-wide salaries so you can go in with a reasonable target figure in mind. Your professional network, HR department, and sites like PayScale and GlassDoor are all helpful resources for determining your worth in the marketplace.
8) Choose the right moment
Most people make their pitch at review time. But if your boss is overwhelmed by the pressure of completing everyone’s evaluations, he may be less inclined to grant your request. He may also already be constrained by a set budget. Instead, time your request to coincide with changes in your own tasks. McGinn advises asking for a raise just before you take on new responsibilities or right after you successfully complete a project. “If you’ve just created a whole bunch of value for your company, it’s a great time to say, ‘Can we share that value?’,” she explains. If your boss still doesn’t seem receptive, suggest revisiting the issue in a few months and then get on his calendar.
9) Practice ahead of time
It’s important to rehearse what you will say, and not just in your head, adds Faison. “Do it out loud, practice it with someone else, record yourself, and play it back.” Listen for weaknesses in your argument or signs that you aren’t getting to the point quickly enough. Make sure to consider the conversation from your boss’s point of view, imagine the varied reactions she might have, and plan your responses. “Really think about her interests and why she would even be interested in engaging,” advises McGinn.
10) Be confident
As you make your case, always strive for a tone of mutual respect. “I call it the Three C’s,” says Faison. “You’ve got to be calm, and conversational, and to establish an air of collaboration.” Try to avoid patterns of speech that Faison refers to as “power robbers.”Don’t make statements in the form of questions (“Would you agree I’m due for a raise?”) or qualify them (“I believe that my work has been very good…”). Instead, be direct and confident. Positive body language will also impart an air of confidence.
11) Avoid complaints and ultimatums
Never start the conversation with a grievance or threat. “You’ll just put your boss on the defensive, which is not a good stance to take,” says McGinn. Avoid comparing yourself to colleagues or complaining that you make less; stay positive and focus instead on how much you contribute. You should also avoid “implicitly or explicitly threatening to leave” as a negotiating tactic, says McGinn. At best, you’ll turn the conversation adversarial; at worse, you’ll paint yourself into a corner if you don’t get the raise.
12) Look forward, not backward
Pitch your raise as not only recognition for past achievements, but also tacit acknowledgment that you are a dedicated team player committed to growing with the company. Lay out your contributions, then quickly pivot to what you hope to tackle next. Assure your boss that you understand his pressures and goals, and pitch your raise as a way to help him. “You’ve got to understand what is it they value, what it is it that’s important to them, how are you making their lives better as well as the company’s,” says Faison.
13) If the answer is no
If your request is declined, have a Plan B at the ready: Are there benefits you might accept in lieu of an increase in salary, such as a bonus, stock options, or more flexible work hours? And if your boss’s answer is still no, ask what it will take to shift the answer into a yes. “Ask what tasks you can take on, what changes you can make in your job that would lead to that raise,” says McGinn. You’ll show your boss that you are committed to growing within the company
Principles to Remember:
Do:
- Prepare your case by gathering data on your unique contribution to the business.
- Consider your boss’s priorities and explain how you’ll help.
- Practice the conversation ahead of time.
Don’t
- Wait until review time. If you’ve taken on a new role or just notched a success, approach your boss to test the waters.
- Compare yourself to a colleague. The request is about your work and your value to the company.
- Threaten to go somewhere else.
Source:
https://www.merajob.in/blog/candidate/career-advice/5-guaranteed-ways-to-get-a-salary-increment-that-you-want/
https://hbr.org/2015/03/how-to-ask-for-a-raise
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