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5 considerations to make before you ask for a payrise

You’ve played it over and over again in your mind but you just don’t know how to ask for a raise. It has been long overdue and you can’t push it back any longer. Your work speaks for itself and a little extra pay would be reasonable. So why is it hard to just do it?

According to the PayScale survey of over 160,000, almost two-thirds of employees never ask for a pay raise just because they are scared to lose their job or don’t know-how. Asking for a raise isn’t wrong. How you ask, on the other hand, is what matters.    

1. Time

Before you ask for a raise, you need to carefully choose your timing. Consider the financial status of the company, your manager’s work load and your recent accomplishments. Document the details of the specific goals you attained which will act as a reference in your conversation. 

2. Salary trends

Every role has a market value. The value is within a certain pay range. Your education, experience and other factors will influence how your pay rate compares to that figure. To find out more on the salary range for your job based on your industry, experience and location you can use sites like Indeed Salaries.

3. Meeting

Once the timing is okay then you can schedule a meeting. In the case you have a performance review coming up, you can let your manager know that you plan to discuss compensation in this meeting. If you can, don’t ask for a raise in an email. It is ideal to ask in person.     

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4. Ask confidently 

When the D-day comes you need to be confident. Be prepared for follow up questions from your boss. Provide a hand out that summarizes your request, pay range and benefits the company derives from your efforts. Whether the answer is a yes or no, you still need to be sure of your worth professionally.

5. Feedback

If you don’t get a raise and the reason isn’t valid, then assess your career path in the company. In the case you do, express your gratitude and continue working hard if not harder. Don’t brag to others or cause friction within your team.

This article was first published on Fuzu.

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