Best Life: Tips on asking for a raise
ORLANDO, FL (Ivanhoe Newswire) - Soaring inflation costs have left many employees unsatisfied with their salaries.
Yet, in a PayScale survey of more than 160,000 people, only 37% of workers said they had ever asked their employer for a raise.
While requesting more money can be uncomfortable, it doesn’t have to be. There are many dos and don’ts when it comes to asking your boss for a raise.
Research shows about 70% of employees who ask for a raise receive one and 39 percent get the amount they ask for.
“You want to ask for a raise after a win. So, if, let’s say you just had a stellar job performance review, that would be a great time,” says licensed Mental Health Counselor and Career Coach, Donna Thrash.
Research the amount you’re asking for. Resources like Glassdoor, Payscale, or your HR department can help you determine your market rate. The average pay raise is three percent. But experts say a good raise ranges from 4.5 to 5%.
Writing down your accomplishments and how the scope of your work has changed or increased is beneficial, but don’t compare your salary to that of others in your company.
“The most important thing to consider when asking for a raise is it really has to be about you. So, it has to be about what you are bringing to the table,” said Thrash.
Asking in private and in person, if you can, will put you at an advantage. Be confident and practice what you’re going to say beforehand, but don’t make threats or ultimatums.
“Well, I just got a job offer and they’re offering me x amount, and what can you do for me? That can be a real turnoff for employers,” said Thrash.
Experts say to increase your chance of getting a raise, present your boss with your new skills and projects you’ve taken on since your last pay raise.
If you get a no, ask your boss what it will take to get a raise in the future.
It may be that in these tougher economic times, they just can’t afford it.
Contributors to this news report include: Marsha Lewis, Producer; Roque Correa, Videographer and Editor.
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