Want a Year-End Raise? Do This.
A great corporate culture, opportunities for advancement, and work/life flexibility may make your job great.
But if you’re not earning what you’re worth, your enthusiasm for your “great” job will quickly evaporate.
Some organizations have well-defined processes for increasing employees’ pay rates, based on tenure and job performance. In other organizations, however, things are much less structured. As a result, the responsibility for negotiating a year-end raise falls on employees’ shoulders.
If you believe you’re due for a raise, use these tips to negotiate like an expert – and get paid what you’re truly worth:
- Get past your fear.
Few people relish the idea of asking for more money, but most employers expect individuals to periodically ask for a raise. - Be realistic.
Consider your job performance over the past year. If you’ve consistently gone “above and beyond,” you may well deserve a raise. But if you’ve just “skated by” you might want to think carefully before requesting more money. - Get the timing right.
If you’re:
– Fairly new to the company, wait at least a year before asking for a raise.
– Due for a performance review, plan to submit your request during that meeting.
– Just coming off a big success in your job, strike while the iron is hot.
– Working for an employer that’s struggling financially or making cutbacks, hold off until you see signs of stability. - Schedule an appointment.
Unless you have a scheduled, upcoming review, don’t ambush your boss. Request a meeting with them to discuss salary at a time and place that works for you both. This lends formality to the process and gives your supervisor adequate time to prepare. - Don’t guess!
Head into your meeting knowing what you’re worth. Conduct advance research online to find out the going rate for your position within your industry. Sites like GetRaised, Payscale and Glassdoor can help. Then, choose a specific number toward the top end of your salary range (based on your research and job performance). Why? Find out in this earlier post on salary negotiations. - Prepare to explain why you’ve earned a raise (not why you want one).
Create a list of your measurable results, success stories, and even testimonials from happy clients or customers. Add in new skills you’ve acquired and new job responsibilities you’ve taken on. Use this evidence to make it easy for your boss to say “Yes” to your request for a raise. Moving forward, maintain this list year-round so you’ll be prepared for future performance reviews and salary negotiations. - Talk to professional recruiters.
Not sure if you’re due for a year-end raise? Talk to a PrideStaff recruiter. We place people in a wide range of positions from coast to coast, so we have a wealth of data and insights to share. If you need salary information, or need a great temporary or direct position, give your local PrideStaff office a call.
