You are good at your job & your performance is above expectation, however you feel your pay/compensation is not commensurate with your skills & expertise. Employees want to get adequately compensated for high quality of work expected from them. Learning technique of how & when to ask for a raise is not an easy task. Some of the key points you should consider to gain clarity & build your case for salary hike:
- Show your accomplishments: Before you ask for pay hike, be sure that you have results/achievements to back it. Just getting the job done is not enough. You should deliver your work in such as way that it exceeds management expectations. Has your performance surpassed any of your colleagues. If you have nothing delightful to showcase, you should go back to drawing board. Just showcasing cost of living, extra hours devoted & meeting deadlines are not sufficient enough to demand extra money if your work is mediocre. Focus on delivering results that no one can achieve.
- Do a detailed research: You know your promotion is just around the corner. However you should know what you are asking before asking your boss for more money. We keep on discussing & asking “ Know your worth”! However how do you evaluate how much salary/raise your should ask if you’re going for a new job/promotion in your current role. Do your detailed research on industry wise salary trends & read through salary surveys about professionals with similar experience, expertise & education to know the indicative range which you can expect. Prepare such information to substantiate your claim for pay raise.
- Confidence is the key: Most of the professionals, specifically those in African continent, are not good negotiators & lack confidence is asking their true worth. Remember, a lot of corporations offer other perks such as flexible working hours, paid leaves, challenging projects, title besides salary. If you get nervous in such situations, it is better to do dress rehearsals ahead of time.
Just communicating your expectations for pay raise is not enough if you are not walking the walk. You strategy should be solid so that denying is not the option.
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