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How do you ask an employer for a raise?

What is the best way to ask for a raise? This can be a touchy topic and I am not sure how to go about it. #salary #salary-negotiation

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Nick’s Answer

Raises and salary are often a tough topic to discuss. When I've done this in the past, I try to prepare by thinking about what value I've brought to the table. For example, if I'm going to be doing the same job, but requesting a higher salary, I need to demonstrate to my employer why I deserve an increase. It is extremely difficult to do self-assessments and realistically evaluate your performance. Questions that I ask myself include: How have I performed when compared to key performance indicators? Have I met/exceeded all of the recent goals? How have i performed compared to my peers? Honest answers to these questions allow you as the employee to show their worth, rather than appear to just be asking for more money.

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Eduardo’s Answer

The best way to ask for a raise is to know your worth in your industry. Talk to your friends or search online for how much other companies pay for the same job. Sometimes it helps to start looking for similar jobs to find out how much is your industry willing to pay. Once you know your worth you will know if there is room for a raise. If you are underpaid, make sure you know exactly how you contribute to the success of your organization and have a discussion with your manager. If you know you are underpaid and you dont have any other reasons to stay other than salary, be ready to find another job and walk away.
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Neil’s Answer

Hi Victoria,

The key thing when asking for a raise is to have prepared your rationale as to why it's appropriate. A couple of things which I do in this situation are:
Benchmark my current salary against what the market is paying. This will also show you how many similar jobs are out there for which you are qualified.
Justify the raise based on your performance. What have you achieved vs what are the expectations from someone in that role? Are you delivering to a standard which is above your paygrade.
Have a contingency plan? What will you do if your company says no? Sometimes it is not possible to grant a raise depending on lots of factors. IF your company says no, are you willing to move? The more options you have the more likely it is for a better outcome for you.

I would also say in my experience that the biggest increases in salary are usually when you change company rather than a pay rise within your current company.

Good luck with the conversation. I hope you get what you want from it :)
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Wael’s Answer

I never done it personally! Anyway, below there are several links to help you with that.


https://www.livecareer.com/quintessential/requesting-raise-dos-donts
http://www.monster.com/career-advice/article/can-i-ask-for-a-raise-yet-hot-jobs
http://www.yourofficecoach.com/topics/managing_your_boss/performance_reviews/how_to_ask_for_a_raise.aspx

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Dhaval’s Answer

Hi Victoria,

Thats all negotiations.. but you can start discuss based on your performance, numbers of years in that role or with the company, current market rate for your current position and your long terms plans.

Hope this helps !

-Dhaval
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Brian’s Answer

To be honest this really depends on the field you work in and the company you work for. Typically, at larger corporations with annual assessment periods, this is likely not an option as there is substantial structure.

If you work for a smaller company where there is some opportunity for negotiation, you should ensure you delicately ask your employer, and make sure you can provide a reason for needing a raise. Make sure that your performance backs up your question otherwise you are walking into a dangerous discussion.
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