Guest post by Elarie Consulting
Asking for a raise can make even the most confident employee incredibly nervous, and knowing exactly when the right time to do it is essential. Just hoping your company will notice your efforts and reward you appropriately does not always pay off in today’s workforce. We put together the most ideal situations when you should take charge and ask for that pay increase, in order to have the most success out of your negotiations.
During Your Interview Salary Negotiations
Taking the time to thoughtfully negotiate your salary is an important step in the job search process. When it comes time to talk about what your requirements are for a position, don’t just cave into a number you’re not comfortable with. If you really want the job, but still are not totally comfortable with the salary they’re willing to offer, consider the option of asking for a raise, even before you start the position.
For example, if you’re looking to make at least $50,000 a year, but the company is staying firm at $45,000, see if they’re willing to review your progress and performance at a 6-month mark into your position, and renegotiate to that higher amount. The goal is to get this agreement written into your paperwork before signing on, so you can all hold each other accountable to it when the time comes to look it over again.
Looking for ways to master your interview and land your dream job? Check out our Top Interview Tips over on our blog.
Before Your Annual Review
Many employees think the perfect time to talk about a raise is during their annual review. Often times, you go into this meeting thinking you’re already going to be offered a raise, and many times will come out disappointed if it’s not enough, or worse, you’re not getting one at all. This is why we suggest taking an active step in starting the process of negotiating your raise before your annual review.
Requesting a meeting to talk about a pay increase before your annual review will give your supervisor and management team time to consider what they can really offer you, and actually get it approved in time for your annual review. How soon should you actually request this meeting in advance to give them that time? We suggest 3 months. This allows the company enough time to secure budgeting requests and consideration.
When You’ve Taken Over Someone Else’s Duties
If a co-worker has recently left and your company is not looking to pass along all of their duties to a new hire, the time to ask for a raise is before you actually start taking on these tasks. Anytime you’re expected to take on a role that is going to take a substantial amount of time, energy, or manpower, you deserve to get paid more. It doesn’t matter if you’ve just had your review or even recently received a pay bump – if you’re taking on more, make sure you’re setting a precedent that more work can be handed your way without recognition.
However, we do want to note you should never discuss another employee’s compensation or performance as a basis for your raise. Doing so could immediately shut down the conversation and hurt your growth within the organization.
Need a little motivation and confidence booster before you walk into your raise negotiation meeting? Check out these 5 Ted Talks that are sure to give you that extra kick of energy in your career!
When You’ve Successfully Completed A Large Assignment
If you’ve recently celebrated wrapping up a project or assignment – and managed to do a great job in the process – we definitely suggest taking the time to talk with your supervisor about raising your wages. This is also a good time to discuss the next project you’re ready to tackle and show off your willingness and commitment to the company and job.
Likewise, if you’re someone who time and time again is over-performing and not being compensated for that excellence, we suggest setting up a meeting to discuss your performance and a raise. Make sure you are prepared to state your case with concrete examples of your outstanding contributions and what you have coming up that you plan on over-executing as well.
Elarie Consulting is a full-service professional writing and career consulting company based in Metro Detroit. We specialize in custom resumes, well-crafted cover letters, and honest, practical and real career advice for all working professionals. Learn more at www.elarieconsulting.com