When’s the right time to ask for a raise? How do you know you’re not asking for too much? Or too little? Afraid to ask your manager for a performance review? Then keep on reading.
Everything you need to know before you go asking your boss for a raise is here – from timing and preparation, to a list of things you should never say.
TIMING
Cliché or not, timing really is everything. Not choosing the right moment can easily set you back a few steps. So how can you make sure you choose the right time to ask your boss for a raise? Let’s look at the following guidelines:
The company’s review policy – try to familiarize yourself with the company’s review policy. It should be easy – just think, how often do they carry out performance reviews? Every three months? Every six months? Once a year? If you’re not sure, then consult with your HR department or check the employee handbook. See if you can time your request to match the company’s timeline; raises are usually tied to evaluations.
However, you might want to ask before your annual review. “Start talking to your boss about getting a raise three to four months in advance,” says writer and former human resources professional Suzanne Lucas of EvilHRLady.org. “That’s when they decide the budget.” Presenting your case in advance helps you get a head start on your co-workers who might also consider asking for a raise. Make sure your boss has enough time to factor in your request before he divvies up the budget.
A bad time – this should go without saying, but asking your manager for a raise when he’s just gotten out of a meeting, eyes burning, nostrils flaring, is a big NO-NO. Pick a moment when your manager isn’t stressed, or angry, a moment that won’t make him feel like he’s being cornered by you. Pick a day in the week when things aren’t so hectic, preferably a day closer to the weekend. The thought of the weekend being just around the corner makes people less stressed, and more approachable.
New responsibilities – another great time to ask is before you take on new responsibilities, or just after you’ve completed a successful project. “If you’ve just created a whole bunch of value for your company, it’s a great time to say, ‘Can we share that value?’,”says Kathleen McGinn, professor of business administration at Harvard Business School.
Write down your accomplishments in the firm, how long it took to achieve them, the praises you received, the projects you were successful at – let your manager know how well you are doing. Managers don’t usually keep track of their productive staffers, because they have to follow-up on everything their low-performing employees do. It’s up to you to make your boss aware of your workload, and your accomplishments.
image: The Balance
PREPARATION
You may not be a warrior, but asking your boss for a raise is as close as you will ever get to entering a battlefield. So make sure you enter it well-equipped.
Practice makes perfect – practice ahead of time, rehearse what you want to say, not just in your head, but out loud. Talking in front of a mirror can help you concentrate on your posture, not just your speech. Record yourself, this way you can listen back to what you said and notice the weak spots in your argument. Make sure your point is clear, and your tone is decisive, yet respectful.
Don’t walk into the meeting empty-handed. In addition to a list with your recent accomplishments, you could also pin down the additional tasks you’ve taken on, new strategies you’ve adopted, projects you’ve spearheaded, and even future plans you might have to further increase your department’s success.
Dress the part – pull out your fancy attire. Even if the company has a casual dress code, you might want to look your best when you’re asking your boss for a raise. Pick an outfit that makes you feel smart, confident. When doing so, you might want to consider the colors you’re choosing.
Studies have shown that the clothes you wear, particularly the colors you choose, can unconsciously influence the mindsets of people around you. For instance, people who wear pink are perceived as less threatening. Red, on the other hand, is a bold color that exudes power, strength and confidence. But it can also signal aggression, so if you choose to wear red and you plan on discussing future goals, make sure you stick to positive talking points. A safer choice would be blue – this color not only ensures a calming atmosphere in the negotiation process, but it can also help you feel more relaxed and centered.
Avoid poignant colors such as white and yellow – yellow tends to be an overpowering color and can make the wearer look weak, while too much white denotes timidity and sterility. Grey is another color you might want to steer clear off because it conveys a passive, uninvolved personality.
Do your research – before you face your boss. Conduct a background research to determine your market value so you can base your request on realistic expectations. Online tools such as PayScale, Glassdoor and Salary.com can help you find the market rate for your position (or intended one).
Ask for an exact number; researchers at Columbia Business School uncovered that it’s best to give your boss a precise number, instead of a rounded-off dollar amount, because it makes you seem more informed. According to Professors Malia Mason and Daniel Ames, “there is a big difference in what most people think is a good strategy when negotiating and what research shows is a good strategy; Negotiators should remember that in this case, zero’s really do add nothing to the bargaining table”.
Bring up the future – it’s important to let your manager know you’re in for the long run, and you’re not going to bail just three months after receiving a raise. Show your manager you’re invested in the company’s success. Discuss a potential project that could solve current company issues – approach your boss with a well-thought out plan that could help the company grow and generate more revenue.
Be confident – you know you deserve a raise for all your hard work. And now it’s time to show your boss why you’re worth it. Don’t be overconfident though, strive for a tone of mutual respect. “I call it the Three C’s,” says Diana Faison, a partner with leadership development firm Flynn Heath Holt Leadership. “You’ve got to be calm, and conversational, and to establish an air of collaboration.”
Have a backup plan – in case your manager says “no”. You’ve come this far, so now is not the time to backdown. If your boss says no to a promotion, then you can ask for an interim performance appraisal with clearly defined goals and salary adjustment – before your next annual review. “This puts you in line for a possible increase sooner and also communicates how seriously you take your career,” says Julia Bonem, a senior career consultant at Resume Strategists.
Change your language – if you’re not getting anywhere by asking for a raise, rephrase your argument and ask for a “salary adjustment” instead. The word “raise” could imply that you’re asking for something extra, whereas a “salary adjustment” simply emphasizes that your salary isn’t on par with the market value for your position.
If worse comes to worst, try to have a conversation with your manager, avoid giving an ultimatum and storming out of his office. Ask why isn’t a raise possible? What could you do differently? Is there a potential for one in the future?
AVOID SAYING THINGS LIKE…
“…I deserve a raise!”
You’re not arguing with your spouse over who gets to control the remote tonight, you’re asking your manager to acknowledge your accomplishments. Without arguing your case, you risk looking selfish and entitled, and chances are your manager won’t like it.
“…If you don’t give me a raise, I’m leaving.”
The only thing you’ll see by giving an ultimatum is your manager’s door closing behind you. Whatever you do, resist the urge to threaten your boss.
“…I need more money because [I’m drowning in debt / I just bought a new house / I need a vacation and I can’t afford it].”
Your manager really doesn’t care if you can barely pay your bills – that’s the ugly truth. Plus, pointing out that you’re in serious financial debt can only make your manager think that you have poor money management skills.
“…I’m overdue for a raise.”
Unfortunately, it’s not up to you to decide the exact timing of your raise. And asking in this manner comes pretty close to giving your manager an ultimatum – and you don’t want that.
“…John is making more money than me.”
Comparing your salary to your co-workers’ is the most unflattering position you could put yourself in. If you want to know whether you’re being paid fairly or not, use salary calculators and industry salary surveys. Don’t become that person who secretly hates John for making more money – maybe there’s a reason why he’s being paid more.
“…I’m doing the job of two people.”
If you think you’re doing the amount of work that would normally be done by two people, you should find a different way to convey that message – not as an opening statement when you’re asking for a raise. If you start the conversation this way, you should be prepared for a defensive response from your manager.
It’s important to remember to treat this meeting like any business meeting. As Katie Donovan, salary negotiation consultant and founder of EqualPayNegotiations.com suggests “whether you’ve helped the business save money or make money, mention those accomplishments in your argument. If you’re having a conversation about dollars, mention your impact in dollars.”
Regardless of the outcome, you should be proud of yourself, because asking for money is never easy – even the people who know they deserve a raise can have a hard time asking for it.
