It can be easy to spend hours every week working your fingers to the bone before heading home feeling as though you deserve more. Why spend your life wishing that you had more money when you could ask for it instead? Here’s how to negotiate a raise with your boss.
Pick your time
One of the most important aspects that comes with negotiating a raise is learning when to pick your moment. Asking for money can be a little disruptive to the office – especially if you choose a time that’s not great. It’s all about making sure that your boss has the time to listen to your case so that you don’t get forgotten under the piling mountain of work. Plus, it could be best to wait until your annual review so that you have time to plan and focus your case before you make your points.
Know what you want
What do you want from you raise? Perhaps you want a few hundred dollars extra each month, or you want to earn more from all of that overtime you do on the weekends? Whatever the case, it’s essential to have a figure in mind before you head into the meeting. This could even be when you want your pay rise to start. Many companies have pay bonuses. If it’s coming up to that time in the office, then why not try to negotiate your extra money into your annual bonus?
Do your research
Sure, we could head into the meeting and demand $1 million a year, but are we worth it? There are usually plenty of companies out there hiring for similar roles, and you may even find that your boss has recently advertised for another position within your team. If this is the case, then be sure to check out what they are offering to make sure that you aren’t asking for too much – or underselling your worth. After all, it might be easier to have this conversation just the once.
Build a case
You will need to have a strong case about why you deserve a raise with plenty of examples to back up your points before you head into your meeting. Writing notes and finding a handful of samples for each point are usually enough to show that you’ve put in the work. This could be how you have taken on more responsibilities, your relationship with the rest of the people working on your team, or how you have helped the company to meet deadlines and grow.
Be prepared to negotiate
As much as many of us know what we want from a raise, there are usually times that we need to learn to negotiate. Just ensure that you have your own target in mind and that you know the lowest offer you will take before you find yourself caught like a deer in the headlights. Plus, having another offer prepared could be all it takes. Many employees want to save money where they cane. Don’t let yourself be a part of the budget if you feel that you deserve more.
Learning how to negotiate a raise can do wonders for our career in the long run. As well as getting what you deserve for all of the work and effort that you put into your job, it might not be long before those money worries are a thing of the past.