How to Ask for a Pay Raise
Regardless of how strong your relationship is with your direct supervisor, you likely feel awkward bringing up the topic of compensation. A study from Ally Bank, found that 70% of people find it rude or awkward to discuss money in social settings. If we are uncomfortable discussing money with the people we choose to interact with outside of work, it’s no surprise that we don’t want to discuss money at work either. Here are 4 things to keep in mind next time you ask for a raise:
1. Know that asking for a raise is normal
If you have been with the company for at least a year, then it is expected that you would ask for a raise. Your manager will likely not be surprised when you request to schedule a conversation around compensation. As you progress within an organization and take on more responsibility, it is completely reasonable to discuss whether or not your efforts and compensation are aligned.
2. Be able to articulate your worth
Before asking for a raise, you should know exactly what you bring to your organization. Be able to provide concrete numbers of how you’ve impacted the bottom line, customer feedback, and any other data relative to your industry. It may also be useful to research the market value of your position across competitors.
3. Practice your pitch
You should never walk into this type of conversation unprepared. Practice with a trusted friend, your dog, or even in the mirror! You want to exude a humble confidence throughout the conversation, and that is something that can only come through preparation.
4. Express gratitude
Whether or not you receive a raise, you should be genuinely grateful that your supervisor is willing to spend the time discussing it with you. Entitlement and arrogance will never help you sell your worth, but a grateful attitude and clear message certainly will. Plus, if you carry yourself well during this conversation, your manager will be more likely to consider you for a raise when he or she has a bit more in the budget.
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