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Everyone works to earn money, for some, it is the only priority for earning, while for others it is among the other priorities that he/she works for. However, no one would want to work hard for nothing; each one should get their rightful dues from their employer; at times you get it without asking, but unfortunately, there are situations where you have to ask for a salary raise. It is a tricky task because while you want to add some more ‘zeros’ to your current salary, you need to take care that your boss doesn’t get offended. Any random time is not the right time to make this demand; read this blog further to find out the best times to ask for a raise in your salary.
Before your Annual Review: this I would suggest is the perfect time to pitch for yourself. You have worked hard the entire year, and now it’s time for you to get some gesture of appreciation, and what better than a hike in your monthly income? So, find out the time when your company conducts its yearly review and approach your boss quite some time ahead of it, lest you find him saying that the annual budget reviews are closed. Actually, you should put forward this request at least one or two months before the review, not more than that as it could be forgotten.
On achieving something big for the company: when you have bagged in a big win on behalf of your company, you have the complete right to ask for an increment, and that’s when you ought to do so. Use the accomplishment to substantiate your claim for this raise; do not keep waiting for an opportunity to speak, bring up the subject immediately post the achievement. Since the win will be fresh in the employer’s mind, it will be easier for him to consider your plea. But remember, to be absolutely sure that your win deserves a raise before you put the subject on the table. The incident should be as impactful as, may be increasing the revenue of the company by a good margin or perhaps helping the company save a lot of money in some contract.
When you took some extra burden: this scenario may be one that a lot of employees wish to avoid, but it is one of those perfect times when you can ask for a salary raise without any hesitation. There are times when you may have had to fill in for some other employee who has not been able to deliver his/her work on time, or perhaps you may have even had to cover for your manager. What you only need to make sure before using this opportunity to make the demand is, to verify whether you have been able to successfully carry out these add on responsibilities. If you are certain about this, then there is nothing to stop you from asking for your deserved dues.
When market rates for your position don’t match your salary: keeping yourself updated with all facts and figures before approaching your employer for an increase in your salary is extremely important, especially if this particular point is going to be the basis of your claim. Research for yourself and find out the salary usually received for the position you are in if you find a mismatch between the two, i.e. you are underpaid, know it is the right time to speak about it.
When you got a promotion or changed roles: though it is a fact that an increase in the pay always accompanies promotion, yet some employees have not had the same experience. On the contrary, they have been entrusted with more and more responsibilities without any mention about a rise in the salary for days. And because most employees are reluctant to talk about this, it serves as an advantage to the company. But now that you are aware, you should speak up for your rights; and I would suggest yet again do not wait too long to do so. The moment you are endowed with more work or some work different from your job description seize the opportunity and ask for a salary raise.
Your company’ s revenue achievements: being a part of the company you surely can identify when your company is doing well and is in a good financial position, make your claim at this time. However, as a background for your pitch, talk about how you have positively contributed to the betterment of the company’s economy. Say suppose you are in the customer service section; you could claim that because you satisfied a greater number of customers with their queries and problems that you gained customer loyalty towards the brand which consequently added to the revenue of the company at large. Thereby quantifying your persuasion.
You have the offer letter of another company: though apparently, this situation is like threatening your current employer, yet of placed decently, this could be your chance to get an untimely raise in your salary without much effort. But of course, you will then have to be an indispensable employee of the company. Only, when you are worth a lot for your boss will he be willing to keep you as an employee at any cost, so, you have to ensure you make yourself an asset for the company. Do not be boastful in any way, humility will take to greater heights always, very subtly let them know that you are being offered a better wage for the same position and see what they have to say. At the same time be prepared to leave and do not even think of bluffing anyone.
Talking about financial things has and will never be an easy task, but you have to be equipped with this trait while you are in a corporate world. Else all you will see at the end of the month is a bag full of peanuts, and you’ll find yourself saying ‘I am getting paid peanuts’; instead, strike while the iron is still hot my friend!
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