| |
"It is a must that you take a few steps before breaking the news on to your managers."
Everyone gets the feeling that he is not being paid his due in his job but if you think that it is really the high time that you asked for a raise, it is a must that you take a few steps before breaking the news on to your managers. These steps would not only help you get a chance that your managers would consider a pay raise, it would also be possible for you to negotiate a better deal with them.
Research The Raise You Deserve
Before asking for pay raise, most people commit a simple and common mistake. They do not ask for what they deserve but for what they desire. This is the reason that they get nothing when they ask for a pay raise. If you want to make sure that you get a real raise, you have to know what you deserve and this is where researching comes into the picture. You have to research the market practices regarding payouts in your job. You have to research the policies of your employer in the position that you work and research the skills and capabilities that you have and estimate their worth.
In order to understand the market practices about paying at your job and level, you have to refer to salary calculators that are available on various websites. Check on a good HR website where the calculator might be updated as per the changing market scenario. You would also like to check out people from other companies working in similar positions before asking for pay raise yourself. In this case you should check out the salary being paid to your coworkers. For your company's pay policies, you would have to research the salary policies of the organization. This is where you would have to get the HR people of your company involved.
Checking your own net worth based on your skill set and experience is a complicated and rather subjective task. This is because you would be hard pressed to objectively evaluate yourself. After all, the better you rate yourself, the more money you can ask for! In such a case, you would have to get the objective opinion of third parties. Get some of your work analyzed by other people doing the same job or involved in managing people doing work like yours.
How to ask for a pay raise
Knowing how to ask for a pay raise is very important. Based on all the information, you would have to build a proper case for yourself and then present it to your managers. You should write some case studies of your major accomplishments and a white paper based on the information you collected. You must also prepare a presentation which states your case and why your deserve a hike. Make sure that you bring HR people in the loop at the appropriate time as well.
Finally prepare yourself for failure. It would be the most obvious result for the first time you go to ask for a pay raise, may be for the first 2 or 3 times. Don't be discouraged, instead conduct more research and make your case and presentation more compelling. And never threaten to quit when you ask for a pay raise, lest you want to be shown the door.
Research The Raise You Deserve
Before asking for pay raise, most people commit a simple and common mistake. They do not ask for what they deserve but for what they desire. This is the reason that they get nothing when they ask for a pay raise. If you want to make sure that you get a real raise, you have to know what you deserve and this is where researching comes into the picture. You have to research the market practices regarding payouts in your job. You have to research the policies of your employer in the position that you work and research the skills and capabilities that you have and estimate their worth.
In order to understand the market practices about paying at your job and level, you have to refer to salary calculators that are available on various websites. Check on a good HR website where the calculator might be updated as per the changing market scenario. You would also like to check out people from other companies working in similar positions before asking for pay raise yourself. In this case you should check out the salary being paid to your coworkers. For your company's pay policies, you would have to research the salary policies of the organization. This is where you would have to get the HR people of your company involved.
Checking your own net worth based on your skill set and experience is a complicated and rather subjective task. This is because you would be hard pressed to objectively evaluate yourself. After all, the better you rate yourself, the more money you can ask for! In such a case, you would have to get the objective opinion of third parties. Get some of your work analyzed by other people doing the same job or involved in managing people doing work like yours.
How to ask for a pay raise
Knowing how to ask for a pay raise is very important. Based on all the information, you would have to build a proper case for yourself and then present it to your managers. You should write some case studies of your major accomplishments and a white paper based on the information you collected. You must also prepare a presentation which states your case and why your deserve a hike. Make sure that you bring HR people in the loop at the appropriate time as well.
Finally prepare yourself for failure. It would be the most obvious result for the first time you go to ask for a pay raise, may be for the first 2 or 3 times. Don't be discouraged, instead conduct more research and make your case and presentation more compelling. And never threaten to quit when you ask for a pay raise, lest you want to be shown the door.
comments
0 Responses to "What to do Before You Ask for a Pay Raise"Post a Comment