Have your friends been getting making you wonder when your salary increase would be? Or are you using financial calculator India trying to find out how much money you need as a salary to buy a home? If you have already decided on the raise you want, then you are probably thinking about how to ask for a pay raise. You’re not the only one. In fact, the search term “how to ask for a raise” is one of the most commonly searched terms on Google.
It’s a situation we all find ourselves in at some point – and it doesn’t exactly happen overnight. The process of receiving a pay raise can be intimidating, with potentially dangerous consequences if you don’t prepare appropriately ahead of time. But don’t worry! We’re going to share with you the exact steps the most successful employees take to make sure that they get the desired raise they want and deserve
Table of Contents
1. Ask at the right time
If you want to ask for a raise, you should do it when there is no risk of losing your job. The best time to ask for a raise is during the annual review. If you have worked hard and are performing well, your employer will be happy to give you an increase in compensation. Additionally, it’s important that you don’t start asking too early in your career, or you’ll look weak and desperate or too late, and you’ll look like you’re not confident.
2. Do some market research
Before you ask someone else for more money, it’s important that you understand how much you make compared to what other people in similar roles are earning and what the industry standard is in your field. This will help you determine whether or not your request is reasonable and help you determine if your boss is willing to give you what you want without making an issue of it. By explaining to your employer what other people in your position and role are earning, it will be easier for them to understand why you deserve a raise and how much more money they should offer you (if anything).
3. Speak confidently
Your goal is to convince your boss that you’re worth more than what you’re making now. You don’t want to come across as needy or pushy, so use this opportunity to demonstrate that you’re an asset rather than a liability by thinking about what makes you valuable to the company and how you can contribute more next time around. However, don’t be afraid to ask for a raise! Most companies are very supportive of their employees and want to see them succeed. They will understand if you’re seeking more money because of unexpected expenses or increased responsibilities at work as long as they feel like they’re being compensated fairly for their contributions to the company’s success.
4. Understand your company’s environment
Before approaching your boss with a request for a pay increase, take time to understand what’s going on at your company and what’s happening in the industry overall. If there are layoffs or other changes in strategy that could affect salaries at all levels, make sure to let your manager know about them before making any requests for raises. If there are no major changes planned within the next few months, but an employee feels like she deserves a higher salary than what she currently receives, it might be worth discussing this with her supervisor first so they can determine if there are any such possibilities.
5. Have all your facts at hand
When you’re asking for a raise, it’s important to have all the information you need handy. You can’t know how much money is right for you until you have all the figures in front of you. If you don’t have them, then it’s time to go back and get them!
6. Know exactly how much you want
A discussion for raises usually ends with your employer asking you how much raise you would want. Based on the market research you did plus the company policy about how much raise is possible you should give a number. This is not the time to fumble, so have a percentage or ready, so you may give a certain response you’d want. When you are calculating the amount of money you need to raise, avoid manual calculations and try to use calculators such as the in hand salary calculator so that you give an accurate figure.
